I'm here guys, I've been very busy at work and got in late last night so I was unable to write anything.
debdeb, that is very funny.
The Quarterly. Where do I start? We know that 11,000t was shipped off to China, but the payment for that delivery has not made it into this quarterly's 'official figures'. It may have been 'received' on the 1st July and you would not be able to bank that in the previous quarter.
wjr has worked out a price of $250/t. I actually think this could be a part payment from the agent. It's a new product and they would be sticking his neck out paying for it all up front, especially in a climate where even Iluka are having troubles selling product.
I do agree, that table is pretty ordinary.
As for the rest of it. They talk about the modifications and 'deficiencies' being rectified, well let's hope so. Wet mill availability at 87% is a reasonable number, but they would expecting something in the mid 90's.
The recovery rates are better, but again they would be aiming for the low 90's.
I see the tailings filter has needed work, obviously the moisture was still too high in the truck for the return trip.
Dry mill recovery of 72% and 84%. They'd be expecting higher, but they are at least improving. Availability of 96% is right on the money, so it will be a case of getting the new HTR's online and hopefully seeing better recovery rates.
Exploration. Same as last quarter really. They've got a heap of surrounding land and it wouldn't take a lot to work out if its mineralised.
OH+S Working with machinery, people can get hurt, thankfully he's okay.
Marketing Chromite is not immune like other commodities. The one big difference is that in South Africa they just shut mines at the end of a shift. There has been talk that some of these mines may never re-open due to power issues.
Zircon I could sell that from debdeb's back room.
Litigation Ridiculous argument, but it keeps all the low level lawyers that just didn't make it in a job.
Cash A bit low, but if you add in a couple of million from China boat, it seems okay.
All in all, I was expecting management to give a more thorough quarterly brief, especially on the plant modifications and sales.
Let's hope they update us soon.
Pep
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