Highlights
-- Quarterly customer receipts of A$3.9m – a decrease of 24% compared to prior quarter. The decline was anticipated and was due primarily to planned downtime to install new equipment that will deliver improved operating efficiencies. This subsequently impacted volumes at both the Arden Hills and Black Birch plants in the quarter. Volumes have since normalised.
-- Sales of Powdered Activated Carbon (PAC) declined by 17% compared to the prior quarter driven by the Black Birch facility going offline for nearly a month to install an upgraded milling system.
-- Sales of Activated Carbon Pellets (ACP) were also lower due to the Arden Hills facility going offline for three weeks to implement various optimization processes. This optimization work should reduce costs by approximately 10% per annum.
-- All of Carbonxt’s PAC customers that had agreements expiring in the quarter extended the contract terms and all including price increases. The list of these customers includes the Company’s largest PAC customer who purchases almost 2,500 TPY of PAC products.
-- Carbonxt received strong shareholder support for a Share Purchase Plan to raise $1.58m which was an increase over the initial target amount.
-- The Kentucky Joint Venture is in documentation and expected to be completed in the current quarter.
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