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 allots rights issue shortfall
Friday, September 03, 2010
South Australian-focussed IronClad Mining (ASX:IFE) has allotted 1,821,716 fully paid shares representing the shortfall in the rights issue announced on 4th August, 2010.
The rights issue has raised $7.5 million for the commencement an early works program and to finalise a Definitive Feasibility Study on its Wilcherry Hill Iron Ore Project in South Australia.
The works program will include a trial shipment to China and secure long lead time capital equipment in readiness for the start of mining.
It will also see commencement of onsite infrastructure construction such as a road upgrade, office accomodation and power provision.
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