IronClad Mining
Full IronClad Mining profile here
IronClad Mining (ASX: IFE) was established to accelerate the development of the exciting Wilcherry Hill iron ore deposits located 40 kilometres north of Kimba on South Australia’s Eyre Peninsula.
The Wilcherry deposits contain coarse crystalline magnetite and low silica contents which enable low cost and efficient production of concentrates containing over 70% Fe with very low impurity levels. Mine start-up is scheduled for early 2012.
IronClad Mining shares continue to soar on back of substantial offtake agreement
Wednesday, February 08, 2012 by Angela Kean
IronClad Mining (ASX: IFE) has made the list of top ASX gainers today with a share price increase of 12.2% to A$0.92.
The company has been on an upwards share price trajectory since announcing it had secured a significant offtake agreement for iron ore from its Wilcherry Hill project in South Australia early this month.
The four year offtake agreement with Hong Kong-based resources industry investment group New Page Investments is for up to 50% of annual iron ore production from Wilcherry Hill.
Last month IronClad secured a $6 million investment from New Page Investments which will be used to finance start-up works at the Wilcherry Hill site.
Wilcherry Hill is on track for maiden production in the March quarter of 2012, with the first shipment of iron ore to be exported to Chinese customers in the June quarter.
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