Dear Esteemed Shareholders
Worth a new thread and some points of discussion..
Hancock Prospecting has hit a key milestone in progressing the prospective Mount Bevan iron ore project in Western Australia that could see the major invest billions.
A pre-feasibility study (PFS) was completed this week, which established Mount Bevan as a 12-million-tonne-per-annum high-grade magnetite project nestled in the central Yilgarn. More than $5 billion of capital expenditure is set to be invested in Mount Bevan, with a new 125km slurry pipeline to be built.
Following the results of the PFS, the joint venture partners have committed to commence a ‘forward works plan’ to further define, optimise and de-risk the project.
“The completion of the Mount Bevan magnetite project PFS is a significant milestone for the joint venture and reflects the hard work of Hancock, Legacy Iron and Hawthorn Resources,” Hancocksaid.
“The technical outcomes from the work done are positive and further work is being undertaken to optimise the design and costs for supply of power, transport of iron ore product from mine site to a port for export of the product and identification of water sources required for processing and production of the concentrates.”
The PFS incorporated over 9000m of exploration drilling, baseline environmental and heritage surveys, comprehensive metallurgical test work, the development of a 25-year mine plan, process and plant infrastructure design, and third-party engagement for transport logistics.
According to metallurgical testing, the project can deliver a product grade of greater than 70 per cent iron.
“Our commitment as joint venture partners in Mount Bevan, has been to unlock the potential of what is one of Australia’s highest grade in situ magnetite deposits for the benefit of our shareholders and the nation,” Hawthorn managing director and chief executive officer Brian Thornton said.
The Mount Bevan project is a joint venture between Legacy Iron Ore, Hawthorn Resources and Hancock Magnetite Holdings, a wholly-owned subsidiary of Hancock Prospecting, and is managed by Hanroy Iron Ore Projects.
Are the FE. ANS assets in Western Australia of any future value ?
