An Indian government-backed company which part-owns a $5-billion iron ore project controlled by Hancock Prospecting has been released from ASX purgatory.
With “hematite” iron ore discoveries slowing to a trickle, billionaires and others are turning to the once-maligned poor cousin of the iron ore industry “magnetite” that comes with almost biblical scale.
Gina Rinehart's Hancock Prospecting and its joint venture partners have put a $5 billion price tag on developing a major magnetite mine in the Yilgarn.
A project-wide lithium sweep of St George Mining's Mt Alexander operation near the historic Western Australian town of Menzies has isolated multiple new drill targets for a campaign slated to launch in the second half of this year. The company's soil sampling and lithium pegmatite fertility review also identified geochemical analogues and a relationship between local gold mineralisation and pegmatites.
Thick pegmatites, including one stretching more than 120m, have boosted St George Mining's lithium search at its Mt Alexander project in WA, as it attempts to define a bigger lithium system. Management says its project confidence is growing after assay results from its recent drilling program at its Jailbreak prospect also confirmed multiple lithium-bearing pegmatites, with a peak value of 1.28 per cent lithium.
Gina Rinehart's company has struck a joint venture with two explorers focused on a new lithium development against the backdrop of the billionaire's recent meeting with the Indian Prime Minister.
Speculation of a tie-up between two companies in an emerging lithium province scoped by Hancock Prospecting has surfaced after the pair entered a trading halt flagging a joint venture announcement.
Our board moves wrap includes Peter Iancov, Amitava Mukherjee, Sumit Deb, Michael Atkins, Mark Wilson, Oliver Kiddie, Dean Dalla Valle, and Susan Lloyd-Hurwitz.
A former managing director of Legacy Iron Ore has been sentenced to three years' imprisonment over allegations of stealing more than $725,000 from the exploration company.
Charges against former Legacy Iron Ore company accountant Karen Kwan, over allegations of stolen money totalling more than $750,000, have been withdrawn.
St George Mining shares shot up nearly 40 per cent at one point during intraday trading on news of significant lithium potential at the company's Mt Alexander project 95km west of Leonora in WA. Initial field mapping and rock chip sampling at the project has confirmed numerous outcropping pegmatite dykes occurring in swarms that extend over 15km within its ground.
Hancock Prospecting's plan to earn-in to a slice of a Yilgarn magnetite project is proceeding, with the deal finalised just days after a new trade agreement with India.
Fortescue Metals Group has continued to surprise the market with its ambitious plans, striking an agreement with Sinosteel to evaluate a magnetite mine in the Mid West and a port at Oakajee.
Our board moves wrap includes Sarah Smith, Terry Donnelly, Mark Hancock, Tony Sage, N Baijendra Kumar, Fiona van Maanen, Michael Jefferies, Trevor Benson, Francis Lim, Hao Wen, and Wing Kee Cheng.
Indian state-owned corporation NMDC recently lifted its stake in local mining hopeful Legacy Iron Ore to more than 90 per cent in a deal that minor shareholders say dramatically diluted their equity, with regulators powerless to take action.
Legacy Iron Ore has received commitments to raise $11.74 million through a four-for-one rights issue, primarily to accelerate production at the Mt Celia gold project in Western Australia.
Legacy Iron Ore founding director Sharon Heng has resigned after a board review of financial transactions during the past three years found Ms Heng owed the firm about $868,000.
Ramelius Resources will appoint chief operating officer Mark Zeptner to succeed retiring managing director Ian Gordon when he steps down in June after seven years with the gold miner.
Shares in East Perth-based Legacy Iron Ore have surged 67 per cent higher after it entered into a potential joint venture deal with Lachlan Capital Partners over its Robertson Range and Hamersley iron ore projects in the Pilbara.
