I cannot see the requirements for a CR, they just sold around $9.3mil worth of Ilmenite.
From what I can tell by the satellite images, the works have already been completed to the dam and they are currently in the process of refilling the dam.
If you also read the statement from the ASX announcement, it states what the potential impacts are.
Potential production impacts While the investigation, inspection and assessment of repairs are being conducted, alternative water arrangements are being planned to allow production to continue with every effort being made to minimise the impact on volumes. Options being assessed include diverting seawater intake to the lower capacity settlement ponds, processing beach material and reprocessing of mined grade coarse tailings and beach / garnet material through the GSP.
If you have not seen my other satellite images, MRC is back mining on Beach 10 of the Northern Beaches. i.e continued production. they also had another option for diverting seawater while the repairs were ongoing. there will be some impact on the QTR, but I cannot see any significant financial impacts.
Thank you for pointing out my honesting, I will call it out the way I see it, MRC disclosure is poor, they didn't even advise they had restarted mining on the northern beaches,
MRC Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
