Highlights
- Mineral Commodities has restarted primary drilling and ore production at the Skaland Graphite AS (Skaland) operations.
- MRC has commissioned a rental drill rig at Skaland, replacing the primary ore production drill rig (Tamrock Data Solo 1020).
- The drilling has been restarted one week before the set time of mid-October 2023.
Global mining and development company, Mineral Commodities Ltd (ASX: MRC) has restarted primary drilling as well as ore production at the Skaland Graphite AS operations. The Skaland Graphite AS (Skaland) is owned by MRC Graphite (Norway) Pty Ltd (MRCGN), a subsidiary of the company.
The ASX-listed firm has sourced and commissioned a rental drill rig at Skaland, replacing the primary ore production drill rig (Tamrock Data Solo 1020) after it encountered an in-service failure last month. The breakdown was primarily because the Skaland owned rig is nearing the end of its useful life. It was manufactured in the year 2002.
Share price performance
Following the update, MRC’s share price jumped to AU$0.034 per share, 3.03% higher at the time of writing on 10 October 2023. The company has a market capitalisation of over AU$22.81 million.