MZI reports lower mineral sands sales, expects stronger 2017
Published: Thursday, 19 January 2017
Although revenue from sales declined in the December quarter, MZI expects demand for leucoxene and other high grade TiO2 feedstocks to grow as the pigment market continues to strengthen. Its outlook for zircon is not as positive though, as the market waits for a rebound in building and construction.
ASX-listed mineral sands produced MZI
Resources reported negative cash flows from its Australian
Keysbrook operations for the fourth quarter of 2016, as cash
from sales fell sequentially.
Sales revenue booked in Q4 totalled $7m, with cash received
from sales totalling $7.5m. This compares with Q3 sales revenue
of $6.8m and cash...