I thought I should start a tread to highlight the expected news from MRC over the next 90 days,
Norway Skaland Graphite Mine
As most holders would be aware, MRC is expecting to announce the Final Investment Decision FID on the downstream processing to produce spherical graphite / coated anode material during this QTR, this will most likely be approved after MRC enters into an agreement with Mitsubishi Chemicals where the two companies are looking at toll processing for Mitsubishi along with future production from Skaland.
The other possibility for FID is an agreement with FREYR which is currently building its customer evaluation processing facility in Norway.
We still have 2 PFS's which remain outstanding for Skaland (Norway Graphite mine) the expansion study from 16ktpa to 30ktpa, and the PFS for the installation of spherical graphite production at the mine.
Munglinup Graphite project - Western Australia
It is unclear on the status of MRC's second graphite projects EPA application, the company advised it had submitted all documents to the Western Australia EPA for them to complete the final Environmental approval process. MRC has also announced they were successful with obtaining government funding for additional drilling at the Munglinup Graphite project.
Tormin - Mineral SandsTormin is the most important aspect of MRC, As many holders will know, the company ceased processing the Inland strands mineralisation due to poor recovery of the mineral sands, they have been working on a solution over the past 12 months where they have detailed they expect to recommence processing of the mineralisation during this QTR, The inland strands mineralisation contains much higher heavy metal grades to Tormin Beach and the Northern beaches, in higher grade makes up the majority of the companies forecast annual production for 2022.
MRC QTR report
Like many of you have mentioned, I am very surprised MRC didn't require a capital raising during the previous QTR with only US$2.2mil. The last QTR was a complete disaster, where it appears they were mining lower grader areas of beaches 7 and 10, rather than focusing on the areas of the recent mineral resource, which had 20%+ mineralisation.
MRC has obtained land owner consent to mine the virgin beaches 1-5, I still haven't been able to find historic drill results to determine the grade, either way, the grade of heavy metals are likely to be similar to virgin grades at Tormin Beach up 50% HM, or the Northern beaches 20-30% HM.
According to the satellite images, MRC commenced mining these virgin beaches along with the areas of beach 10 MRC recently drilled to provide the companies mineral resources.
MRC is still mining Tormin Beach, which really needs a holiday, so it is hard to tell what the average grade MRC will achieve for the QTR,
Please feel free to add additional commentary about likely news, your expectation for the company's QTR production/cash reserves, or other news the company has indicated they expect to deliver during this QTR.
(20min delay)