Iluka Resources Ltd Positive March quarter performance

Positive March quarter performance: Iluka Resources Ltd (ASX: ILU) stock rallied over 3.7% on April 24, 2017 following a total rise of over 15.2% in the last five days (as at April 21, 2017) with improving sentiments and commodity price movements. For March Quarter, the group’s revenue enhanced 118.5% against same period last year driven by better sales volumes which comprise Sierra Rutile sales volumes. Sales volumes surged 131.5% year on year (yoy) during the period. As a result, the group decreased their net debt to $403 million as at 31 March 2017 as compared to $506 million as at 31 December 2017.Overall Z/R/SR production surged 52.9% to 232.2 thousand tonnes against the March quarter 2016, driven by Sierra Rutile product and rising zircon production. Rutile production surged 112.5% with the inclusion of 35.7 thousand tonnes from Sierra Rutile, but even without Sierra Rutile contribution, rutile production rose 26.9%. Meanwhile, Northcape Capital PTY LTD reduced its shareholding to 6.11% from 7.26%,    

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