re: trade4profit
Minerals Corporation Ltd (MSC) is an industrial minerals company with activities encompassing exploration, mining, processing, distribution and marketing of minerals, primarily Kaolin. The company is primarily focused on the kaolin producing Skardon River Kaolin project. Skardon River Kaolin Pty Ltd:MSC owns and operates the Skardon River Kaolin Project, located in Queensland, through subsidiary Skardon River Kaolin Pty Ltd. Reserves and resources as at March 2005 were estimated at 2.8Mt @ 93% kaolin and 11.3Mt @ 65% kaolin. The company produces kaolin for a range of applications including ceramics, paints, plastics and paper making. Bulk bagging capacity at Skardon River is around 120,000tpa, planned to increase to 175,000tpa during FY05. Swan River Kaolin:The project is located in Western Australia. Kaolin resources as at March 2005 were estimated at 41.6Mt @ 42% kaolin. During December 2004q, MSC received an AusIndustry grant of $1.1m towards the development of a demonstration processing plant in Western Australia. Other Subsidiaries:Westhire Contract Services: Involved in the provision of labour and earth moving resources to wholly owned group companies at cost. Minerals Mining and Marine Pty Ltd: Provides barge and mining services to Skardon River. Sinotel Limited: A project telecommunication services company. Sinotel has a minority interest in a JV that holds a 20 year business licence in China. China construction minerals JV (35%):The project is located in Shanghai, China and comprises two stone quarries. As at March 2005, production was running at 720,000 tpa of construction stone with plans to increase it to 1.68Mtpa during 2H05. Eucla JV (19%):The project is located on the WA/SA border and is prospective for heavy minerals. Tenements are held by Diatreme Resources Limited. MSC has committed $400,000 to a drilling programme over the first year and has an option to increase its interest to 40% by providing further $3m.
MSC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
