Iluka’s Investor Day Sees Positive Market Outlook Intact
We maintain our AUD 9.30 per share fair value estimate for no-moat Iluka Resources following the 2017 investor day. It provided an extensive update for the group and another opportunity to hear from the relatively new managing director, Tom O’Leary. Key positives are: the strong outlook for zircon and titanium dioxide feedstock markets; more on BHP’s proposed expansion of Mining Area C--and Iluka’s iron ore royalty over it--and better-than-expected improvements at Sierra Rutile.On the downside,...
Iluka Resources is engaged in mineral sands exploration, project development, operations and marketing. Co. is a producer of zircon and titanium dioxide products, as well as rutile and synthetic rutile products. These products are used in a range of applications. Co.'s segments include Australia, which comprises the integrated mineral sands mining and processing operations in Victoria, Western Australia and South Australia; United States, which includes its mineral sands mining and processing operations in Virginia; and Mining Area C, which comprises a deferred consideration iron ore royalty interest over certain mining tenements in Australia operated by BHP Billiton Iron Ore.
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