Quantcast
Channel: Proactiveinvestors USA & Canada
Viewing all articles
Browse latest Browse all 2

Ferrum Crescent closer to developing Moonlight iron project

0
0

 

Ferrum Crescent (LON:FCR, ASX:FCR) is "significantly closer" to developing an open pit mine at its Moonlight iron ore project in South Africa.

So said Ed Nealon, the chairman of the firm, which has unveiled a quarterly report covering the three months to end March 2013.

Last month, Ferrum said it would publish “imminently” a decision on the location for the proposed DR pellet plant for the project as the company advances towards a bankable feasibility study (BFS).

It has also appointed Italian specialist Danieli to carry out the process engineering and other technical services needed for the BFS, which is expected to be completed within 12-18 months.

At the end of the three month period, the firm said it had A$ 1.21mln in cash.

Nealon said: "The period saw Ferrum Crescent reach an agreement with Danieli, a major equipment and services supplier to the steel industry, to undertake all beneficiation and plant design components for the Moonlight project BFS underway in South Africa.

"When combined with the off-take agreement with Duferco SA and the significant work the team has carried out since receiving our final mining licences, Ferrum is significantly closer to achieving its aim of developing an open pit mine at Moonlight."


 


Viewing all articles
Browse latest Browse all 2

Latest Images

Trending Articles





Latest Images