That quarterly production report will lift investor spirits - oh, it has. +91c in the first half an hour.
$100m off net debt as it runs down that colossal Zircon stockpile at minimal cost - even while spending big capex at Sierra. Truly impressive.
Interesting ILU has replaced the surface fleet at Sierra. Probably bought the gear in Perth for a song - so much used mining equipment available there. And a second barge.
Sierra still hasn't hit the production potential of the existing operational kit, but ILU seems very confident this is imminent.
I wonder if they plan to upgrade Sierra Ilmenite production to Synthetic Rutile. Perhaps next year.
GLTAH
Ash
Ann: Iluka Resources March 2017 Quarterly Production Report, page-2
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