Sign up Australia
Proactive Investors - Run By Investors For Investors

Strike Resources to update on Apurimac iron ore JV in Peru

Strike Resources to update on Apurimac iron ore JV in Peru

Strike Resources (ASX:SRK) is set to provide an update on its Apurimac iron ore joint venture in Peru and has requested a voluntary suspension from the ASX until 31 December 2012.

Strike's two principal projects in the bulk commodities market include the Apurimac and Cusco iron ore projects in Peru, with the Apurimac in the pre-feasibility stage.

It is hoping to establish a 15 million tonne per annum operation in Peru based on current iron ore resources totalling 374 million tonnes and potential access to additional resources of 178.6 million tonnes held by Cuervo in Cusco, all with significant upside.

Strike holds warrants in Canada-listed Peruvian explorer Cuervo Resources , which if exercised, will allow it to acquire up to 49% of Cuervo.

The joint venture Apurimac Ferrum holds concessions covering almost 600 square kilometres of highly prospective ground with the most advanced project, Opaban, containing iron ore resources totalling 269 million tonnes at an average grade of 57.3% iron.

Though Strike has a 50% interest in the project via a 50% shareholding in Peruvian company Apurimac Ferrum, which holds the project's mineral concessions, Strike now has the option to to buy joint venture partner D&C's shares in Apurimac Ferrum.

Strike emerged as a "shootout" winner and can now move to a 100% ownership of Apurimac Ferrum after the JV partners failed to purchase all of Strike's shares and repay Strike's loans by 15 November 2012.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full SRK profile View Profile

Strike Resources Timeline

Related Articles

copper wires
April 12 2018
Leigh Creek will add to the cash being generated by New Mexico-based iron ore business Cobre to fund exploration and development opportunities elsewhere.
copper tubes
May 30 2018
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices
picture of steel mill
December 01 2017
Bushveld will have 59.1% of Vametco once it completes the buy-out of partner Yellow Dragon.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use