This morning Iluka Resourced Ltd [ASX:ILU] slightly fell in share value, dropping by 0.55%.
Despite the small dip, they’re still trading at a higher value than they were last month.
Why did the Iluka Share Price dip?
During the month of February, they were trading at $9.62 a share, now their shares value at $10.94.
Iluka Resources specialise in metals and minerals and operate throughout Australia, Sierra Leone and the United States.
Their market cap currently stands at $4.589 billion, with an enterprise value of $4.77 billion.
Iluka stays ahead of its game
Recently, the company reduced its loss by $52 million on the prior corresponding period.
Managing director Tom O’Leary expects recent outstanding mineral sands market conditions to persist in 2018.
In 2010, the company’s dividend reinvestment plan was dismissed. However, a new dividend plan has been established for effective payment of the 2017 final dividend.
The West Australian reported that managing director Tom O’Leary is pleased to report higher revenues, as well as strong performance from their Sierra Rutile operations throughout the year, he stated:
‘This has been accompanied by the successful restart of the company’s major zircon mine, Jacinth-Ambrosia, and the finalisation of off-take agreements supporting the approval of the Cataby development. Delivery at Sierra Rutile, Jacinth-Ambrosia and Cataby is Iluka’s core focus for 2018.’
Iluka will continue to prompt sales growth as their 2017 sales volume grew 12% from 2016.
For Money Morning
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