GINDALBIE STATEMENT ON OAKAJEE PORTA statement by Mr Tim...

GINDALBIE STATEMENT ON OAKAJEE PORT
A statement by Mr Tim Netscher, the Managing Director of Gindalbie Metals Limited (ASX: GBG ? ?Gindalbie?) regarding Oakajee Port.
?The Karara Iron Ore Project is investing more than $200 million on infrastructure at Geraldton Port to enable capacity of approximately 16Mtpa. This capacity is suitable for the Stage 1 production level of 10Mtpa and the anticipated Stage 2 expansion to 16Mtpa.?
?For production beyond 16Mtpa Karara requires the development of Oakajee Port and has signed an MOU as a foundation customer of the project. We continue to support the development of Oakajee and continue to be engaged in constructive negotiations with all parties involved.?
ENDS