STA -2.08%: another positive update from the mineral sands company today as they progress towards the first shipment from their WA Coburn asset. Construction works are now more than 90% complete, on budget and set to be delivered ahead of schedule. Works are no focusing on finalizing the Mineral Separation Plant and supportive infrastructure with their first 10kt shipment of heavy mineral concentrate expected to depart early next quarter. According to the update, current prices are around 35% ahead of feasibility study levels, with each shipment expected to generate ~$10m of revenue and help support further ramp-up of production.
MM is bullish and long STA in the Emerging Companies Portfolio
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