Australian (ASX) Stock Market Forum

SRX - Sierra Rutile Holdings

Joined
27 June 2010
Posts
3,801
Reactions
195
Sierra Rutile, currently a subsidiary of Iluka Resources, is a multi-mine operation located in the Bonthe and Moyamba districts, south west Sierra Leone.

Sierra Rutile has the world’s largest natural rutile deposit and encompasses two operations at Lanti and Gangama; a mineral separation plant; and a dedicated port facility. Sierra Rutile's main product stream is natural rutile and the operation also produces smaller quantities of ilmenite and zircon (in concentrate).

A Demerger Resolution to approve the proposed Demerger of Sierra Rutile will be put to Iluka Shareholders at an Extraordinary General Meeting to be held on Friday, 22 July 2022.

It is anticipated that SRX will list on the ASX during July 2022.

 

Dona Ferentes

NEMO SIBI NASCITVR
Joined
11 January 2016
Posts
8,501
Reactions
10,020
Listing date27 July 2022 11:00AM AEST ##
Company contact detailshttps://sierra-rutile.com/
Ph: +61 417 960 185
Principal ActivitiesSierra Rutile is a multi-mine mineral sands operation straddling the Bonthe and Moyamba districts in southern Sierra Leone.
GICS industry groupTBA
Issue PriceN/A
Issue TypeOrdinary Fully Paid Shares
Security codeSRX

made it to the ASX, market cap is about $130 million

1660095965241.png
 
Joined
20 July 2021
Posts
5,323
Reactions
7,085
i already held ILU and have so far missed my sub 20c top up price

mineral sands ... Africa , i have already got singed there before , so am ultra-cautious
 
Joined
20 July 2021
Posts
5,323
Reactions
7,085
Production and Cost Update for September 2022 Quarter

In advance of release of its Quarterly Report for the quarter ended 30 September 2022,
Sierra Rutile Holdings Limited (ASX: SRX) (“Sierra Rutile” or the “Company”) provides the
following interim update to the market in relation to production and operating cost
performance.
Operations during the quarter were hampered by unusually heavy rainfall in August and
September which resulted in reduced mining and production. It was the highest quarterly
rainfall recorded at site and a 39% increase over Q3 2021. The adverse weather conditions
resulted in reduced ore being mined and processed, with quarterly production of rutile of
28kt, down 22% as against both the previous quarter and Q3 2021.
Combined with increased costs, primarily due to the high rainfall but also impacted by higher
fuel costs and an (expected) absence of material by-product sales revenue, the lower
production resulted in unit operating costs for the quarter ended 30 September 2022 being
materially higher than those experienced in the first half or projected for the full year.
Subject to final review, unit costs for the quarter are expected to be US$1,490 per tonne of
rutile production.
The heavy rainfalls have now subsided and production levels have normalised. At this stage,
the Company expects that production in the remaining months of the year will return to
normal levels, and combined with further by-product sales, unit costs are anticipated to be
significantly lower in Q4 2022.
Full operational, development, ESG and corporate details for the quarter, including
commentary on full year guidance, will be released to the market on Thursday 27th October
in the September Quarterly Report.
Ends
This ASX Release was authorised
--------------------------------------------------------------------------------------------------------------------------------
i hold SRX ( courtesy of the ILU spin-off )

i am looking to add some cheap to bulk up the holding ( say , somewhere around 17 cents a share )
 
Joined
28 May 2020
Posts
2,436
Reactions
4,077
I added some more today, after getting my inital allocation from the ILU spinoff.
Quarterly out today shows all the important increases - production, sales, and net cash
The decreases were unit cash production costs.
More than happy with that.
1674607361595.png
 
Joined
20 July 2021
Posts
5,323
Reactions
7,085
I added some more today, after getting my inital allocation from the ILU spinoff.
Quarterly out today shows all the important increases - production, sales, and net cash
The decreases were unit cash production costs.
More than happy with that.
View attachment 152104
i agree with your opinion , after acquiring some SRX the same way

i have a long-standing order in the market sub 16c , but am still considering a second nibble sub 20 c

am still trying to figure out what is the factor triggering the 13% drop today , at first glance the report wasn't that bad ( only the impact of seasonal factors/weather stood-out to me )
 
Joined
28 May 2020
Posts
2,436
Reactions
4,077
i agree with your opinion , after acquiring some SRX the same way

i have a long-standing order in the market sub 16c , but am still considering a second nibble sub 20 c

am still trying to figure out what is the factor triggering the 13% drop today , at first glance the report wasn't that bad ( only the impact of seasonal factors/weather stood-out to me )
Yea, I looked at that drop and couldn't really figure out why, so that was another reason to buy more.
The parcel i got in the spinoff is a lot smaller than I would normally deal in, so was either going to offload or add more over time.
Got mine at 19.5, which I guess is just under the 20, but would have taken 20 if it was on offer.
Mick
 
Joined
20 July 2021
Posts
5,323
Reactions
7,085
have thrown in a small order at 19 cents which MIGHT be cancelled at the end of the day , leaving the older order just waiting
 
Top