Slow and steady but it looks like we may be leaving the 50c behind. Feels like a coiled spring building up energy just waiting for news of how this resource will get to market.
Some interesting news from ILU in todays news:
Total mineral sands production in the March quarter fell to 528,500 tonnes for the quarter and sales revenue for the period was $44.5 million, compared to $195 million in the 2008 March quarter.
The Perth-based miner said the slump in production during the March quarter was due to lower output in the Murray Basin, exhaustion of concentrate stockpiles, lower mine grades and steps taken to reduce production of lower value ilmenite, especially sulphate ilmenite.
IMA Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
