Corporate
The Company announced its Five Year Strategic Plan 2022-2026 (Strategic Plan)
The Strategic Plan incorporates new vision, values and goals for success. The Company's vision of 'enabling a better world through sustainable and responsible production of critical and industrial minerals and products' represents a clear intent for responsible and sustainable mining and industrial practices. The Strategic Plan aims to return the Company to solid profitability through maximising profitability from existing assets, while expanding its resources and reserves.
Proactive measures in place to ensure employees' safety and to reduce the social impacts of COVID-19 in our communities. The Company is grateful that to date, all infected employees have made a full recovery and returned to work after completing a period of isolation and testing negative. None of our employees has lost employment or suffered a loss of any direct wages or salary due to the pandemic.
Annual Resource Statement states a combined estimate of 562 million tonnes at 6.6%
Total
Maiden ore reserve for the Tormin Inland Strands of 21.8 million tonnes at 31% THM containing 6.7 million tonnes heavy mineral.3
Total final concentrate production increased 10% to 121,652 tonnes, compared to the previous half-year.
Inland Strands testwork, design, construction and commissioning work ongoing during the half-year.
Annual Resource Statement stated a combined estimate of 9.83 million tonnes at 14.3% TGC, containing 1.4 million tonnes of graphite.
MOU signed with technology partner
MOU signed with sales and marketing partner
Successful grant application of AU$3.94M to advance commercialisation of a new graphite ore-to-battery anode business based on the Munglinup graphite project including process piloting for anode materials production.7
Cooperative Research Centres Projects (CRC-P) project successfully completed with battery grades achieved for both Munglinup and Skaland spherical graphite, using the
The half-year results reflect that Skaland production has been above an annualized production rate of 10ktpa, which is the historical peak performance baseline for Skaland. The quality of Skaland concentrate has also been substantially improved postacquisition from below 90% TGC to daily averages of up to 97%. Cost and revenue optimisation is ongoing.
Financial
Total revenue of
EBITDA of
NLBT of
Cash balance
After adjusting for one off adjustments in the comparative half-years, underlying
EBITDA and profit performance in 2022 has improved by 182% and 37% respectively in comparison to 2021.
Management is seeking to improve the profitability at Tormin through: o The re-introduction of production from the Inland Strands, currently expected from December quarter 2023, which will be the catalyst for improved beach mining grades through replenishment with the Strategic Plan providing for the two placer beach deposits being sustainably mined at 1.4-1.5 million tonnes respectively every two years from that point onwards. This plant upgrade is targeted to increase ore processing at
Tormin from 2.4mtpa to 2.7Mtpa; and Significant work has been undertaken assessing the optimal strategy for adding mineral separation plant(s) at Tormin, which will transition MSR from a concentrate only business to higher value garnet and ilmenite finished products by the
Management is seeking to improve profitability at Skaland through revenue and cost optimisation strategies.
Chief Executive Officer
Contact:
INVESTORS & MEDIA
Chief Executive Officer
T: +61 8 6373 8900
E: investor@mncom.com.au
Company Secretary
T: +61 8 6373 8900
E: fletcher.hancock@mncom.com.au
About
Cautionary Statement
This announcement contains forward-looking statements. Any forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. It should be noted that various factors may cause actual results or expectations to differ materially from the results expressed or implied in the forwardlooking statements. These forward-looking statements are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are beyond MRC's control. This may cause actual results and developments to differ materially from those expressed or implied. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. Forward-looking statements in this announcement apply only at the date of issue and are subject to any continuing obligations under applicable law or regulations, MRC does not undertake to publicly update or revise any of the forward-looking statements in this announcement or to advise of any change in events, conditions, or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this announcement.
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