IronClad says 'only matter of time' before iron ore mine operating
Posted 3 Oct 2013Thu 3 Oct 2013, 12:22pm
Map: Kimba 5641
IronClad Mining says it is confident its proposed iron ore mine near Kimba, on South Australia's Eyre Peninsula, will be operating soon, possibly by the middle of next year.
The company says a major review of the mine has boosted its economic prospects.
Executive chairman Ian Finch says even if the iron ore price eased, there would still be good cash flow and it is hoped financial institutions will come on board.
"In this game you've got to be confident - it's been a long time, we've done a lot of innovative things to get to where we are," he said.
"As far as we can see there is no turning back, we've spent something in the order of $67 million to get to where we are today - we seem to have 99 per cent support - therefore it would seem to be only a matter of time.
"So the financial model is very, very robust, the company is in the strongest position it's ever been and hopefully one of the many banks and institutions we've been talking to over the last year will come to the party because it's a very bankable document now."
I note the above from the ABC website. I must have a very different Dictionary and Calendar than Ironclad. I always assumed that 'soon' meant 'not long' and that middle of the year was June/July . But at least they're "confident"????
Despairingly yours,
Catweasle
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