This is great news for SCN. They get to focus on what they always wanted to and also get an immediate stake in FEX which is earning good money right now and will continue to do so if IO prices hold at todays level for the next year or two.
FEX are focussed on IO and need to expand their mineral resource, so finding another 4-5mt on the SCN plot will boost the SP significantly.
Must admit as a holder of both SCN and FEX, I am in a win/win situation here.
Now let’s go find some IO and some decent PGE-Ni-Cu.
Ann: SCN Accelerates Pharos Iron Ore Agreement with FEX, page-2
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