Ann: High Grade Resource at Minim Martap, page-18

8 November article of interest for those researching 


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Metro flags low-cost expansion
METRO Mining says the bauxite market is so hot right now it will accelerate production growth at its Bauxite Hills direct shipping ore mine on Queensland’s Western Cape York next year to 3.5 million tonnes.Some further numbers for those researching Bauxite 

The capital works are expected to be funded from cash reserves of $38.2 million and existing financing arrangements.  Payback is expected to be achieved before the end of 2019. It will require bringing forward some stage two works, including supplementing both truck and haulage fleet configuration, duplicating screening capacity at the barge loading facility, and accelerating installation of a jaw crusher to enable shipment of any oversized material. 
 While it will also have to supplement the marine fleet and on-water infrastructure, recent performance has shown that loading rates for the ocean-going vessels can exceed the planned mining rates providing confidence in the targeted production for 2019.  The combined changes should not only increase production but lower unit costs, which averaged $46/t in the September quarter. "The increase in production will allow Metro to deliver meaningful volumes to customers that have experienced shortages of domestic bauxite supply," the miner said this morning. It has made shipments to five customers to date for a total of 1.6Mt, and said its product had been "well accepted in China" and negotiations are advanced to finalise the 2019 sales program. 
It previously reported more than 80% of its initial 2019 production had been sold. Mining began in April and hit full production level in the September quarter, with shipments more than doubling over the June quarter at 822,000t.  The company remains on track to meet its production and shipping guidance of 1.98-2.075Mt for 2018. Shares in Metro were up 6.5% in morning trade to 16.5c, back to levels of around a year ago, and half the level they were in January. The company was capitalised at $228 million. The expansion is being driven by strong customer demand, and is part of a wider upgrade strategy that will see the definitive feasibility study for a further expansion to 6Mtpa updated, with deliver expected in the June 2019 quarter. Long lead items have already been ordered for the stage one expansion to 3.5Mtpa, beyond the previously mooted 3Mtpa plan. Much of the existing plant and infrastructure at Bauxite Hills was designed to accommodate higher operating levels so the initiatives to incrementally increase production should be easy to implement and will cost less than A$7 million.