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MINERAL COMMODITIES LTD — Interim / Quarterly Report 2017
Aug 28, 2017
65371_rns_2017-08-28_5dd7b0bf-13a6-486b-9eb4-74f15a9599a5.pdf
Interim / Quarterly Report
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MINERAL COMMODITIES LTD ABN 39 008 478 653 Email: [email protected] Web: www.mncom.com.au
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28 August 2017
MRC REPORTS HALF YEARLY EBITDA OF US$9.6 MILLION AND ANNOUNCES INTERIM DIVIDEND OF 0.5 AU CENTS PER SHARE
Mineral Commodities Ltd (“ MRC ” or the “ Company ”) today announced half yearly Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA) of US$9.6 million (2016: US$5.9 million), Profit before tax of US$7.3 million (2016: US$4.4 million) and profit after tax of US$5.3 million (2016: US$2.9 million).
On the back of another solid operating performance, the Board has declared an unfranked interim dividend of 0.5 Australian cents per ordinary share in accordance with its capital management policy.
The result was underpinned by the following key metrics:
| Production and Sales Summary | Half-Year to 30 June 2017 | Half-Year to 30 June 2016 |
|---|---|---|
| Mining Production | ||
| Tonnes | 1,012,457 | 899,429 |
| Grade: | 27.17% | 52.00% |
| - Garnet | 19.84% | 32.87% |
| - Ilmenite | 5.24% | 14.69% |
| - Zircon | 1.09% | 3.39% |
| - Rutile | 0.52% | 0.69% |
| - Leucoxene | 0.48% | 0.36% |
| Garnet Stripping Plant / Secondary Concentrator Plant | ||
| Tonnes processed | 359,371 | 281,285 |
| Tonnes produced | ||
| - Garnet concentrate | 145,889 | 143,952 |
| - Ilmenite concentrate | 139,425 | 54,334 |
| - Zircon/Rutile concentrate | 11,673 | 18,646 |
| % zircon in concentrate | 71.44% | 70.69% |
| % rutile in concentrate | 16.98% | 12.50% |
| Sales | ||
| Tonnes sold | ||
| - Zircon/Rutile concentrate | 13,044 | 20,852 |
| - Ilmenite concentrate | 172,097 | 2,002 |
| - Garnet concentrate | 81,536 | - |
36 – 40 Murray Road North WELSHPOOL Western Australia 6106 PO Box 235 WELSHPOOL DC WA 6986
Telephone: +61 8 6253 1100 Fax: +61 8 9258 3601 Email: [email protected]
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Executive Chairman Mr Mark Caruso stated “ the Company was pleased to be able to sell all commodities within its mineral suite during the period, which contributed significantly to the financial performance for the half year. The recommencement of garnet sales and the contribution from ilmenite sales as detailed in announcements during the half year were a result of managements’ drive to optimise the timing of sales for all its products”.
Cash at the end of the period of US$6.9 million was after paying a final dividend in respect to the year ended 31 December 2016 of US$3.6 million (A$4.9 million) and repayment of net debt of US$2.2 million.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr Peter Torre Company Secretary Mineral Commodities Ltd
36 – 40 Murray Road North WELSHPOOL Western Australia 6106 PO Box 235 WELSHPOOL DC WA 6986
Telephone: +61 8 6253 1100 Fax: +61 8 9258 3601 Email: [email protected]
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