safm starts iron ore production in brazil

relists today, following the company??s $15 million capital raising.

Issued capital:
157.2 m Fully Paid Ordinary Shares (SFZ)
22.4 m Options (SFZO)
251.9m Performance Shares (unlisted)

The Ponto Verde Iron Ore Project has an exploration target of between 140 million and 150 million tonnes1 of Haematite-rich Itabirite in a range of 33% to 41% Fe in situ, upgradeable to 60%+ Fe, and shares a common boundary to ground held by Brazilian mining giant Vale. The project includes an existing plant which is capable of producing 1 million tonnes per annum.

Initial production and beneficiation by LGA has produced three iron ore products:
?h Sinter feed at 61% iron content
?h Small lump ore at 61% iron content
?h Concentrate at 66% iron content

A further drilling programme is planned in order to define a resource. This drilling programme is expected to recommence, along with engineering studies to increase production to 3 million tonnes per year at +60% Fe.