"Murchison Metals Ltd (MMX) says it is targeting an additional 400 million to 1 billion tonnes of primarily beneficiation feed, with a component of direct shipping material, at its Jack Hills iron ore project. Ongoing exploration at the prospect has revealed the potential, which Murchison says is if fully realised will lift the project size to between 1.5 to 2.1 billion tonnes. Murchison says the results mean the Jack Hills mine has the potential to be a large scale, multi-decade project yielding substantial cash flow and economic value. Shares in Murchison Metals rose 9.22 per cent to $1.955."
- Posted on the 3/9/2009 "announcements" thread
PDY Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
