Rutile Pricing (Iluka's thoughts for the next 12 months)

Iluka Presentation earlier in the week.


2019/20 supply looks tight.


Rutile pricing is still moving up and lags pigment pricing.




Base Quarterly Guidance for 2019 - from 10 weeks ago.



90,000t of Rutile at the current price of $1,000t = US$90m.

Every $100/t increase is US$9m to the bottom line.

Easy to see how the US$150m debt was paid in 2 years.


P