Monto Minerals as started work at the feldspar wash plant at Dakiel. Monto contractor L & R Benecke has been awarded the earthworks contract for the Dakiel plant and started work at the site this week, protect officer Phil McMurtrie said. He said Queensland Rail has to inspect the railway line at Dakiel to see if any work is required, but he expected minimal work needed to be done so the feldspar could be transported by rail. Mr McMurtrie said a decision on the successful tender on the building of the main processing plant at the Goondicum site has been made but was confidential until the contracts were finalised. The company announced that the project and water pipeline construction are proceeding to plan. They are also accelerating the development of high value ground feldspar. CEO Geoffrey Moore said with feldspar for glass making under severe competitive pressure in Europe, they are accelerating development of the higher value ground feldspar, which commands a premium price in international markets. "Monto Minerals is confident in the long term growth and development of its ground feldspar product, particularly due to recent interest from the USA, a market where Montos silica free feldspar is particularly suited," Mr Moore said. Glass feldspar is the subject of a current price war in Europe, and increased freight costs and unfavourable exchange rates have added significantly to the cost of Montos feldspar exports to glass manufacturers, resulting in a reduction in projected export sales of glass feldspar, the CEO said.
MOO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
