Fe Limited to receive iron ore royalty payment from new Deception mine
Mineral Resources brought the mine into full production in the March quarter and royalty payments to FEL are expected to increase.
Company
ASX:FEL
CuFe Ltd (ASX:CUF) is an emerging iron ore producer with a strategy focused on near-term, high-grade premium product iron ore projects and maintaining exposure to strategic metals. The company has interests in various advanced iron ore projects along with copper and gold interests in Australia.
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Mineral Resources brought the mine into full production in the March quarter and royalty payments to FEL are expected to increase.
The 1,600 square kilometres of tenements are in proximity to numerous known hard rock lithium and gold deposits.
FEL is acquiring lithium projects near Fortescue Metals Group discoveries in the Pilbara region of WA.
Positive results have been returned from drilling by Auris at Forrest and Wodger projects as Sandfire seeks new feed sources.
The company is acquiring two highly prospective lithium projects in the Pilbara region.
Visible copper mineralisation has been intersected in two diamond holes completed at the Forrest prospect.
Recent lithium deposit discoveries have made this region one of the hottest in the electric vehicle battery space.
Assays from the drilling show high-grade copper and gold at the Forrest and Wodger prospects.
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FEL chairman Tony Sage shares the excitement of Sandfire Resources in WA’s prolific Bryah Basin owing to FEL's significant interest.
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Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
The company has a free carried 20% interest in a number of prospects in the highly prolific copper-gold region.
New drill results include 12 metres at 0.52% copper from 36 metres at Wodger North and 4 metres at 0.5 g/t gold from 16 metres at Big Billy South.
The company is firming up supplies of copper and cobalt in the DRC and Zambia.
Recent analysis of historical drilling pulps revealed an intersection of 9 metres at 5.8% copper from 76 metres at the Forrest prospect.
Chairman Tony Sage says the company shares the excitement of Sandfire Resources in the prolific Bryah Basin.
The Forrest Project area includes the Wodger, Big Billy and Forrest prospects.
The company has a 20% interest in the Forrest Project alongside Auris Minerals Ltd.
Stock has increased to 2.3 cents following recent encouraging news from DRC and Western Australia.
A targeted drilling program is planned to further investigate previous copper results and to follow up on new cobalt results.
Sandfire Resources has extended its base metals farm-in rights through an agreement with Alchemy Resources.
The company is progressing a cobalt project in the DRC and has interests in iron ore, copper, nickel and gold projects in WA.
35,450 metres of highly encouraging drilling was completed across the project area in Q2 2018.
Fe Limited, chaired by Tony Sage, has the potential to earn $2 million a year through royalties.
Drilling intersected narrow zones of sulphide and supergene copper mineralisation.
The Evanston Iron Ore Project is in the Southern Yilgarn Iron Province.
Sandfire Resources is involved in a farm-in with Auris Minerals and Fe Limited.
Sandfire sees Morck's Well as a new volcanogenic massive sulphide (VMS) target.
The company and its partner Auris Minerals’ share prices have surged today.
Renowned resources company Sandfire Resources is farming into the Morck's Well Project.
Interpreted to be located within the Karalundi Formation which hosts the DeGrussa and Monty orebodies.
Fe Limited has received further promising drill results from the Kasombo Copper-Cobalt Project.
Drilling returns up to 24 metres at 3.5% copper from 37 metres and 10 metres at 0.22% cobalt from 11 metres.
Apple took markets by surprise recently when it entered into talks directly with cobalt miners.
The zone is 15 metres thick and averages 1,670 ppm cobalt.
Sandfire has a proven track record of exploration and development success in the area.
Users of cobalt are seeking to acquire supplies direct from producing companies.
The company is a major shareholder in Fe Limited, holding a 39.63% interest.
Results of up to 10 metres at 5.18% copper have been returned from Kasombo 5.
Strong share price performance over recent months means the options are in-the-money.
The cobalt price has increased circa 50% since Fe acquired stake in Kasombo.
Preliminary drilling works have been completed at two prospects within the project.
Assay results from preliminary drilling are expected later this month.
SG Hiscock holds 5.28% after acquiring further shares.
Fe Limited is focussed on the Kasombo Copper-Cobalt Project.
The company is acquiring the Kasombo Copper-Cobalt Project.
Fe Limited is set to increase exploration news flow in 2018.
The company recently raised capital by issuing shares at a premium in a placement.
Fe Limited is acquiring the Kasombo Copper-Cobalt Project from Cape Lambert Resources.
Auris’ drilling is targeting copper-rich mineralisation of massive sulphides.
Potential presence of significant economic mineralisation at the Wodger prospect.
Wodger has shown geological similarities to the nearby DeGrussa deposit.
Auris is exploring for high-grade VMS copper-gold discoveries.
The Wodger prospect has shown similarities to the nearby DeGrussa deposit.
Auris Minerals is on the trail of the primary copper zone.
Kasombo is located near some of the world’s largest copper and cobalt mines.
Fe Limited is in the process of acquiring an equity interest in the copper-cobalt project from Cape Lambert Resources.
Chairman of the board, Tony Sage, has increased his holding in the company to over 3 million shares.
Alongside Fe Limited's 20% interest, Auris Minerals Ltd (ASX:AUR) owns 80% of the Forrest Project.
This will allow the company to focus on fast-tracking its Kipushi Tailings Project and Zambian Kitwe Tailings Project.
Cobalt prices have more than doubled over the past 12 months.
Soil sampling results have changed Fe's focus to cobalt.