TiZir are still struggling with the ramp-up, which was expected to take 12 months but is now 22 months on.
HMC production up 10% on last quarter, because of the issues in July with production we could have expected 15 to 20% improvement this quarter.
Grand Cote is now at 87% of HMC nameplate production.
Zircon the big money spinner is now 64% of nameplate production.
Talk about "successes" of 2015 belies a very mediocre performance.
The takeover of WTR could generate $5m and give MDL a much need cash boost to push on and achieve the production targets.
MDL Price at posting:
18.0¢ Sentiment: None Disclosure: Held
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