For thousands of other reports visit RSC's Mineral Intellingence Map
Red Hill Iron Ltd.
Summary
| Project: | Red Hill Iron Ore Joint Venture | |
|---|---|---|
| Deposit: | Red Hill Iron Ore Joint Venture | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 11/24/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-11-2016: Red Hill Iron Ltd. announces a Resource Estimation report for its Red Hill Iron Ore Joint Venture deposit at the Red Hill Iron Ore Joint Venture project. Joint Venture - updated mineral resource estimate for project. API Management Pty Ltd (AP | |
| Resources: | (Resource, Total): 30.6Mt @ 56.82% Fe at project | |
| CP/QP: | [Resources]: Richard Gaze (Golder Associates) | |
| ABSTRACT: | API Management Pty Ltd (API), the Manager of the Red Hill Iron Ore Joint Venture (RHIOJV), has delivered to Red Hill Iron Limited (RHI) and the other members of the RHIOJV updated Mineral Resource estimates dated 22 November 2016. A copy of the API covering letter and the report produced by Golder Associates Pty Ltd are attached. The updated Mineral Resource estimates include maiden estimates for the Trixie West and Cardo Bore West Channel Iron Deposits (CID) and an updated estimate for the Red Hill Creek CID. The overall increase of 3 million tonnes in Mineral Resource estimates takes the total Mineral Resources from 813Mt (RHI ASX announcement 26 June 2015) to 816Mt. RHI owns a 40% interest in the RHIOJV, which is maintained on a carry basis by API at no direct cost to RHI until the commencement of commercial production. Upon commencement of commercial production, RHI may either elect to participate in the continuing RHIOJV mining operation at the 19% level or elect to convert its joint venture interest to a 2% FOB Royalty on all RHIOJV iron ore production. In the event of RHI electing to convert to the 2% Royalty, all funds advanced on RHI’s behalf during the carry phase will be written off and the company’s interest in the RHIOJV (which will be restricted to the FOB Royalty) will be debt free. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report