HIGHLIGHTS
CuFe Executive Director Mark Hancock commented on the quarter: “It’s been pleasing quarter operationally at our JWD iron ore mine. Iron ore pricing has fallen over the quarter which has impacted margin but our hedge position has provided good protection so overall we achieved a positive margin on operations. Sales prices have continued to weaken post quarter end so we are monitoring the situation carefully and considering options for the way forward.
On the exploration projects we have continued to progress drilling preparation at our North Dam Project, located in close proximity to the Mt Marion Lithium mine. We have recently completed the heritage clearance of the drill lines with representatives of the Traditional Owners which now allows us to finalise arrangements with a drilling contractor with a view to commencing drilling in August. We have also continued to progress Access Agreements negotiations for our projects in the West Arunta region, an area which has continued to see exciting progress made by other players such as WA1 and Encounter.
On our evaluation stage projects we have completed a technical review of our Tennant Creek projects with the assistance of experienced geologist John Dobe. We see the Copper thematic as very positive in coming years and this review gives us a clear pathway to grow our existing copper resource.”
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