Metromining owns and operates the Bauxite Hills Bauxite Mine in Cape York, Queensland.
They have been mining for about 12 months and production is increasing, with 2019 production expected to reach approximately 3.5 million wet metric tons. From 2021, production is expected to level off at around 6 million wet metric tons. The life of the mine is estimated to be 17 years.
Ramp-up margins remain strong despite higher fares due to weather turmoil and lower AUD / higher bunker fuel prices. Significant cost reductions have been confirmed and are expected to be realized after 2019.
MMI’s share price has halved in the last 12 months, but it seems that 13c has formed a solid foundation. Volume has increased daily over the past three days, with today’s stock price rising from 13.5c to 15c.
So what’s the bottom? It’s hard to say for sure, but the MMI situation is certain as the worst is over, production has increased, and bauxite prices are now at 51 DMT (up from $ 45 12 months ago). It is a little brighter.
A brief overview for those who are interested.
MMI-Metro Mining | Australian Equity Forum
https://www.aussiestockforums.com/threads/mmi-metro-mining.22805/ MMI-Metro Mining | Australian Equity Forum