STA +8.11%: another positive update from Strandline as they approach first production at their Coburn mineral sands project. The company announced the Wet Concentration Plant (WCP) build is coming along rapidly, raising hopes of production kick-starting this quarter. The project is now 85% built and on budget with Strandline looking to take advantage of a strong mineral sands market. In Iluka’s quarterly yesterday, they noted zircon prices were running 25% ahead of last half which was already well up on the prior 6 months. Strandline said prices are currently 35% above feasibility assumption numbers.
MM is long and bullish STA in the Emerging Companies Portfolio
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