Brief: Sierra Rutile Holdings Says Sept Quarter Rutile Production Of 27Kt

Sierra Rutile Holdings

27/10/2023 02:28

Oct 27 (Reuters) - Sierra Rutile Holdings Ltd  SRX.AX :
    * SEPT QUARTER RUTILE PRODUCTION OF 27KT WAS ABOVE PRIOR
QUARTER
    * SEES 2023 NET UNIT COST OF $1,075-1,125/T
    * SEES 2023 CAPEX $25-$27 MILLION
    * SEES 2023 PRODUCTION 115KT-120KT OF RUTILE
    * SOFTENING OF PIGMENT MARKET REMAINS AN ISSUE DUE TO
ONGOING
ECONOMIC UNCERTAINTY IN AN INFLATIONARY ENVIRONMENT
    * IN LONGER TERM HOWEVER, A GLOBAL RUTILE SUPPLY DEFICIT IS
ANTICIPATED
    * INVENTORIES OF FINAL RUTILE PRODUCT ROSE 180% DURING
QUARTER
    * WILL LOOK TO SELL INVENTORIES ONCE RUTILE PRICE IMPROVES
    * INCREASED RUTILE PRODUCTION EXPECTED IN Q4
    * SIMILAR RUTILE SALES PRICING IS ANTICIPATED IN Q4

Source text for Eikon:  ID:nASX5Q8J96 
Further company coverage:  SRX.AX 

 ((Reuters.Briefs@thomsonreuters.com;))