MRC 0.00% 2.6¢ mineral commodities ltd

Ann: Suspension from Quotation, page-10

  1. 44 Posts.
    lightbulb Created with Sketch. 14
    A key item to note is that the sea water intake pipe structure has been damaged and made unusable, (i.e. destroyed) by the storms and rough sea's.

    Whether the ship was there or not, this would have still happened and therefore a suspension would seem likely to have still taken place.
    This event looks like it has given MRC the possibility to legitimize the cutting of the dead weight of Tormin.

    As the sea water intake is a vital piece of infrastructure it is surprising that there is not a more solid emergency process water plan, or a procedure for an alternative pumping solution put in place.

    I am wondering what their insurance situation is regarding such an event.
    If they are de-funding Tormin as per the announcement, would they still get a pay out if insured, and then surely this would be substantial and would simply go into the coffers, possibly of MRC not MSR.

    So they could potentially end up with a windfall of sorts?







    Last edited by ChuckSImmo: 31/07/24
 
watchlist Created with Sketch. Add MRC (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.