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The sand market like any other commodity at the moment is volatile, no doubts. I would be thinking they've got the plant very close to production, or even have it at the mark now, but you only need look at Iluka's sales of Zircon into China and Europe to work out that its a hard slog.

Now we know money is tight and I would be expecting management to come out with some sort of plan to get through this, especially if the plant is right.

P