News: SRX Sierra Rutile Holdings Says Sept Quarter Rutile Production Of 27Kt

Oct 27 (Reuters) - Sierra Rutile Holdings Ltd (SRX) :

• SEPT QUARTER RUTILE PRODUCTION OF 27KT WAS ABOVE PRIOR QUARTER
• SEES 2023 NET UNIT COST OF $1,075-1,125/T
• SEES 2023 CAPEX $25-$27 MILLION
• SEES 2023 PRODUCTION 115KT-120KT OF RUTILE
• SOFTENING OF PIGMENT MARKET REMAINS AN ISSUE DUE TO ONGOING ECONOMIC UNCERTAINTY IN AN INFLATIONARY ENVIRONMENT
• IN LONGER TERM HOWEVER, A GLOBAL RUTILE SUPPLY DEFICIT IS ANTICIPATED
• INVENTORIES OF FINAL RUTILE PRODUCT ROSE 180% DURING QUARTER
• WILL LOOK TO SELL INVENTORIES ONCE RUTILE PRICE IMPROVES
• INCREASED RUTILE PRODUCTION EXPECTED IN Q4
• SIMILAR RUTILE SALES PRICING IS ANTICIPATED IN Q4