MRGC Signed An Agreement With Mondium To Commence ECI And FEED For Munglinup Graphite Project

  • Mar 28, 2019 AEDT
  • Team Kalkine
MRGC Signed An Agreement With Mondium To Commence ECI And FEED For Munglinup Graphite Project

Mineral Commodities Ltd (ASX: MRC), is engaged in the development of the mineral sands projects and investigations into other mineral resources. The company has announced that its 100% owned subsidiary company, MRC Graphite Pty Ltd (MRCG) has executed the professional services agreement with Mondium Pty Ltd for undertaking the Early Contractor Involvement (“ECI”) as well as Front-End Engineering and Design (“FEED”) for the Munglinup Graphite Project.

MRC Graphite Pty Ltd has reached its final stages of completing the Definitive Feasibility Study (“DFS”) for the Munglinup Graphite Project situated in Western Australia. Post that MRCG will provide a final decision to start the construction.

Besides, the environmental permitting process is in progress. Considering the current schedule, and the regulatory processes along with the seasonal variation in the south coast, there is an opportunity where highly regarded engineering and construction firm can be involved that will provide support in delivering additional value to Munglinup Graphite Project via purposeful ECI and FEED program.

Mondium Pty Ltd is a joint venture between Monadelphous Group Limited and Lycopodium Ltd that utilizes the skills of both the companies to support its client while providing them with technical as well as delivery solutions. Mondium delivers complementary strengths, resources as well as experience of Monadelphous in terms of construction while utilizing the innovative skills of Lycopodium. The combination is considered to be suitable for purpose multidisciplinary expertise in engineering as well as delivery of minerals project.

On 1 March 2018, the company declared its full-year financial results for the period ended 31 December 2018. During the period, there was a fall in the revenue by 12% to US$55.399 million as compared to the previous corresponding period. The company made a net profit after tax of US$8.823 million, down by 11% to its previous corresponding period. The company declared a total dividend of A$2,947,641, at A$0.7 cents per share.

The fall in the revenue and profit was driven by the increased mining cash cost per tonnes at Tormin during the year due to higher diesel prices plus the maintenance on an ageing fleet. As a result of additional mining activity, processing plant utilization along with the PBC throughput for compensating the decreased mine grades and increase diesel prices resulted in the increased production cost per net tonne of zircon/rutile, ilmenite and garnet concentrate for the year. In spite of all the above, the company still made a profit and was able to provide a dividend of 0.7 cents per share to its shareholders.

The company reported a net asset base of $42.1 million on its balance sheet. By the end of the period, the company had net cash and cash equivalent of $12.41 million.

In the previous six months, the stock has generated a negative return of 20%. Today, on 28 March 2019, the stock closed unchanged at A$0.160 (As on 28 March 2019). The company has a market capitalization of A$67.37 million with approximately 421.09 million outstanding shares and PE ratio of 5.370x.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK