MRC: Maiden Mineral Resource at De Punt

MINERAL COMMODITIES LTD

• Maiden Mineral Resource at De Punt contains 11.19 million tonnes of total heavy mineral and a mineralization continuity over the tenement length.
• MRC's Tormin Mineral Resources significantly increased in resource tonnes and in situ heavy mineral.
• There's potential to further increase Mineral Resources as only one of seven identified De Punt exploration targets has been drilled.

2023-05-24 08:17:00

MRC: Additional Information - MSP Funding and Garnet Offtake

MINERAL COMMODITIES LTD

• Mineral Commodities Ltd (MRC) and its empowerment partner, Blue Bantry, have entered into offtake and funding agreements through their subsidiary Mineral Sands Resources with Garnet International Resources Pty Ltd, a member of the GMA Group.
• The offtake agreement's termination provisions include conditions such as material breach of provisions, insolvency, and force majeure events.
• The funding agreement is secured by an initial General Notarial Bond during construction, followed by a Special Notarial Bond over the funded Mineral Separation Plant, along with MRC acting as a guarantor.

2023-05-23 09:07:00

MRC: Tormin Secures MSP Funding and Finished Garnet Offtake

MINERAL COMMODITIES LTD

• Mineral Commodities Limited has entered formal agreements with GMA Group for Offtake and Funding.
• MSR agrees to supply GMA Group with finished garnet product and GMA Group will provide MSR with US$10,000,000 in loan funding for MSP's design and construction.
• This agreement aligns with MRC's Strategic Plan to transition into higher value finished products.

2023-05-22 08:25:00

MRC: Final high grade drilling results from De Punt

MINERAL COMMODITIES LTD

• Completed 6,018m of air core drilling from 169 holes as part of De Punt exploration program, with 149 holes showing significant intercepts.
• Expect Maiden Mineral Resource to be announced in June 2023 after receiving 100% of assay results.
• Notable high grade mineralization intersected from resource definition drilling, including DP-L16-1, DP-L20-1, and DP-L23-3.

2023-05-10 08:40:00

MRC: Operations Update - Skaland

MINERAL COMMODITIES LTD

• Operations at Skaland graphite operation have recommenced due to a resolution in the national workers strike in Norway.
• Negotiations between the country's two main unions and employers' representatives achieved an amicable solution.
• There has been no material impact on operations as a result of the quick resolution.

2023-04-24 08:15:00

MRC: Operations Update - Skaland

MINERAL COMMODITIES LTD

• Operations at Skaland graphite have been temporarily suspended due to a national workers strike in Norway.
• Mediation between unions and employers' representatives is ongoing, with the company monitoring the situation.
• The temporary suspension is expected to have limited impact on Mineral Commodities Ltd's financial performance.

2023-04-21 08:17:00

MRC: MRC to Increase Ownership Interest in Tormin

MINERAL COMMODITIES LTD

• MRC to increase its ownership interest in Tormin mine from 50% to 69%.
• Ownership restructuring in compliance with South Africa's 2018 Mining Charter recommendations.
• New ownership structure: 69% MRC, 21% B-BBEE Shareholders, 5% employees, and 5% local community.

2023-04-12 08:40:00

MRC: Significant Ore Reserve Increase for Tormin Inland Strands

MINERAL COMMODITIES LTD

• Total Ore Reserve increase of 177% for Tormin Inland Strands, with an updated Ore Reserve of 60.3 million tonnes containing 2.21 million tonnes of heavy mineral.
• Ore Reserve increase of 181% within the current Expanded Mining Right (EMR) of the Tormin Inland Strands, with an updated Ore Reserve of 21.5 million tonnes containing 1.17 million tonnes of heavy mineral.
• The reserve upgrade reflects the Company's commitment to its Strategic Plan aiming to increase Tormin's asset value and returning it to historical profitability levels.

2023-04-04 08:14:00

MRC: Commissioning Complete for Inland Strands Ore

MINERAL COMMODITIES LTD

• Mineral Sands Resources (MSR) has fully commissioned its processing circuit to produce heavy mineral concentrate and saleable concentrate products at theoretical production and historical recovery rates.
• Commercial production of garnet, ilmenite, zircon and rutile is operating at historical concentrate grades with ongoing optimisation underway at Inland Strands.
• Mineral Commodities Limited will now focus on the design and construction of the Third Primary Concentration Plant (PCP-3) to increase production capacity from 2.7Mtpa to 3.9Mtpa by December quarter 2023.

2023-03-27 08:22:00

MRC: Commercial Production from Inland Strands Ore

MINERAL COMMODITIES LTD

• Production of zircon, rutile, ilmenite and garnet concentrate from Inland Strand ore has commenced.
• Mineral Sands Resources has produced sufficient heavy mineral concentrate stocks to transition to commercial production.
• Inland Strands commercial production is an important step in improving cash flow generation and increasing production capacity.

2023-03-21 08:17:00

MRC: Further Information - Notice of Default and Writ of Summons

MINERAL COMMODITIES LTD

• Mineral Commodities Ltd has received a Writ of Summons from BSG Mining LLC, a minority shareholder
• The Writ concerns an alleged default under the shareholders deed between MRCGN, BSG and Skaland
• MRCGN denies any default and is in discussions with BSG for a mutually agreeable outcome

2023-03-16 17:37:00

MRC: High Grade Drilling Results at De Punt Inland Strands

MINERAL COMMODITIES LTD

• 6,018m of air core drilling completed at De Punt
• 52% of 3,041 assays received, the rest expected by end of March
• High grade mineralisation intersected in first phase of resource definition drilling

2023-03-15 08:19:00

MRC: Receipt of BSG Writ of Summons

MINERAL COMMODITIES LTD

• Mineral Commodities Ltd received a Writ of Summons from a minority 10% shareholder.
• The shareholder's deed between MRC Graphite, BSG, and Skaland is under dispute.
• BSG is seeking a compulsory share sale of MRCGN's shares in Skaland at fair market value.

2023-03-14 09:39:00

MRC: Transition to 24-hour Inland Strands Ore Processing

MINERAL COMMODITIES LTD

• Mineral Sands Resources (MSR) has transitioned to 24-hour operations to meet Inland Strands production targets.
• Plant throughputs of up to 130-140 tph have been achieved, and water recovery from Inland Strands tails dewatering has significantly reduced water demand.
• Once Heavy Mineral Concentrate (HMC) stocks have been generated, Inland Strands HMC will be processed through the secondary plant to produce saleable concentrates.

2023-03-10 08:12:00

MRC: Inland Strands Ore Processing Commences at Tormin

MINERAL COMMODITIES LTD

• Mineral Commodities Limited and its empowerment partner, Blue Bantry Investments 255 (Pty) Ltd have completed on-water commissioning of the upgraded plant and commenced processing Inland Strand ore.
• The tailings dewatering system is performing well, with the dewatering screen effectively minimising the moisture content of the coarse tails and the thickener/flocculant system reducing the moisture content of the fines.
• The production schedule enables sustainable beach mining, with beach mining now able to be rotated annually between Tormin Beaches and Northern Beaches production.

2023-03-06 08:16:00

MRC: Skaland Graphite AS successful with EU Horizon Funding

MINERAL COMMODITIES LTD

1. Skaland Graphite AS has been successful in its application for funding under the European Union’s Horizon Europe program.
2. The project, titled DINAMINE (“Digital and Innovative Mine of the Future”), has been approved for €12.3M of funding, which includes €9.2M of grant funding support from the European Commission.
3. The project will apply innovative and digitization technologies (robotics, artificial intelligence, automation, integrated mine-to-port management systems) to improve efficiencies and sustainability of small to medium European mines.

2023-01-18 08:22:00

MRC: CEO Resigns, Stays On In An Advisory Role

Mineral Commodities Ltd

1. Jacob Deysel has resigned for personal reasons, but will remain available in an advisory capacity.
2. Adam Bick will assume the role of Interim CEO, effective today.
3. Adam joined MRC in April 2017 and became CFO in June 2019, bringing with him nearly three decades of experience across global resource companies.

2023-01-06 08:19:00

MRC: Rights Issue Strongly Supported by Shareholders

Mineral Commodities Ltd

1. Rights Issue and Shortfall Offer strongly supported by eligible shareholders, with an acceptance rate of over 70%.
2. Issue price for new shares subscribed under the Offer ($0.075) is approximately 9% higher than the last share price on the closing date of the Offer.
3. Successful result highlights the strong support the Company has from its shareholders and is a clear endorsement of the Company’s growth strategy.

2023-01-03 08:14:00

MRC: Rights Issue Closed - Notice of Shortfall

Mineral Commodities Limited

1. Rights Issue closed on Friday, 23 December 2022.
2. Eligible shareholders were entitled to subscribe for one (1) new fully paid Share (New Share) for every three (3) Shares held at an issue price of $0.075 (7.5 cents) per New Share.
3. Eligible shareholders were also entitled to apply for additional New Shares under a 'Shortfall Offer' and allocation of the Shortfall Shares will occur in accordance with the allocation policy.

2022-12-30 16:16:00