News
17 Jul 2013
Quarterly Activities Report

ASX Release – 15th July 2013
 

June Quarter Financial Performance (unaudited)

Total cash receipts for the quarter were $1,131,000 with additional receipts of $0.66 million banked on 2-Jul-13.

Sales revenue for the quarter increased to $1.77 million bringing total sales revenue for the year to $4.5 million.

There was a net decrease of cash held for the quarter of ($1,185,000) comprised of:-

Net Operating Cash Flow       ($919,000)  

Net Investing Cash Flow        ($266,000)

Net financing Cash Flow        $0

Cash on hand at the end of June 2013 was $2.42 million.

Projected cash income is expected to be $1.82 million for FY14 Q1 (to the end of Sept-13) with outgoings anticipated to be $1.8 million, including capex of $0.4m.

Quarter Highlights:

  • The new Dieme Filter Press is being constructed and assembled on-site and, after commissioning, is planned to be operational by the end of August.
  • Increased tolling fees and reduced operating costs have resulted in the company producing a positive EBITDA result for the month of June.
  • Ongoing operational and costs reviews are resulting in a steady reduction in monthly processing costs. .


NMP-AL80

Production of Non Metallic Product for the quarter was 2,466 tonne with despatches totalling 652 tonne.

Trial shipments of NMP are in transit to China and Korea.

Product Development – potential new markets.

  • Considerable effort is being made to seek and establish new markets for NMP-AL80.
  • NMP-AL80 has been shown to act as a compost accelerant and methane scrubber when mixed in the appropriate ratio with green waste.
  • Ecotoxicological testing will now commence to ensure the final product has no adverse environmental effects.
  • If proven, this will open up a potential new domestic market for the product.
  • Ongoing testing will continue over the next six months.
  • Initial trials of an NMP-AL80 / brick rubble mix has demonstrated that this composite can be used as a low strength “concrete” suitable for fencing applications. It should also have application as a road base additive and a gravel road surfacing material. Further testing will be conducted on the completion of the other activities described above.


US Operations

John Pugh continues to be retained in a reduced capacity and is maintaining relationships with key potential customers who have strong interests in MHM establishing processing operations in the US.

A comprehensive business case to expand into the USA will be developed when the board and management are confident that the Moolap plant is operating efficiently and effectively with the new Filter Press.

For further information contact

Robert McAlister, CEO, on +61 (0) 3 52408999

Rudi Michelson at Monsoon Communications on +61 (0) 3 9620 3333