Overview of FMS - Lets not forget this project has a lot going for it.
$ Large Resource - Base and Upside Large 1,040Mt hematite resource with significant exploration upside supporting a long-life, low strip ratio operation with simple processing
$Ideal Location - One of the last remaining independent iron ore juniors in the Pilbara, a world class, low risk iron ore region with close proximity to dominant target markets of China, India, South Korea and Japan
$ Strong Product Marketability - Marketing analysis and visits to steel mills have shown there is strong demand for Flinders’ product with 10 MOUs in place
$ Further sinter test work will be completed in January 2015 to confirm product specifications and performance for a single fines product Once sinter test work is completed Flinders will complete its marketing program with the aim of completing offtake agreements for PIOP product at the rate of 25Mtpa
$ Advanced Status and Clear Approvals Path Project will be significantly de-risked once initial rail approval is achieved with other approvals expected mid 2015
$$ Alliance Agreement Executed - Realistic route to market secured via Alliance Agreement with Balla Balla JV participants - Rutila Resources and Todd Minerals (The Todd Corporation is one of NZ's largest and most successful companies with interests in oil and gas, energy, property, healthcare - Pretty substantial backing if you ask me - perfect opportunity for Todd to take a bigger interest in distressed IO assets at Bargain basement prices)
$$ Excellent Project Economics - Robust project economics with low operating and capital costs in the burgeoning, unconstrained West Pilbara iron ore region targeting FID in 2015
$$ Scarcity of Quality - Projects One of the few remaining independent, high-quality hematite iron ore projects of scale left in Australia
$$$ Flinders has appointed Worley Parsons to complete the BFS for the PIOP, which is due for delivery in
June 2015.
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