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CuFe ramps up operations at JWD Iron Ore Project

Last updated: 09:57 22 Dec 2023 AEDT, First published: 15:07 17 Sep 2020 AEST

Snapshot

  • CuFe on track for maiden North Dam lithium and REE drill program; grows West Arunta landholding
  • Fe Limited exercises option to lift JWD interest to 60% in strong iron ore market
  • CuFe on track to drill in March 2024
Fe Limited - Fe Limited extends exposure to strong iron ore market by securing mining rights for production-ready project

About the company

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.

How it is doing

20 Dec 2023

CuFe Ltd (ASX:CUF) is making steady progress towards its maiden drill program at North Dam lithium and rare earth elements (REE) project that is set to commence in the March quarter of 2024, while also significantly increasing its landholding at the West Arunta project.

The North Dam project lies within the heart of the 'lithium corridor' between Mineral Resources’ Mt Marion Lithium Mine and the Pioneer Dome Lithium Project of Essential Metals Ltd/Develop Global Ltd.

Further exploration work at North Dam (E15/1495) has defined drill targets for testing, while regulatory approvals for the maiden drill program are underway, with supporting flora surveys completed and heritage agreements also in progress. 

Fieldwork at the project included field mapping of pegmatite outcrops and rock chip sampling as it prepares for the maiden drill program, along with the submission of a program of works (POW) and flora survey of proposed drill lines. 

21 Nov 2023

CuFe Ltd (ASX:CUF) has inked a 12-month contract for port services at Gerladton Port with Fenix Port Services P/L, a subsidiary of Fenix Resources Ltd, which covers the inload and outload of CuFe’s product, provision of storage and allocation of reserved capacity over the berth.

The contract - which has an effective start date of October 1, 2023 - has a reserved capacity allocation of 1.4 million tonnes, with 80% of this capacity subject to 'Take or Pay' on certain charges and a built-in option to suspend or terminate on notice should operations at the JWD Iron Ore Mine be suspended.

04 Sep 2023

CuFe Ltd (ASX:CUF) has completed the restructuring transaction with major shareholder Gold Valley Group (GVG) to acquire the remaining 40% joint venture interest in the JWD Iron Ore Project (JWD) (increasing to 100%) and to restructure various other obligations that exist between the parties with respect to the Tennant Creek Joint Venture and the Yarram Joint Venture.

With the satisfaction of all conditions precedent, the agreement was completed on September 1, 2023, with the issue of 150 million ordinary shares.

Insight: Fe Limited exercises option to lift JWD interest to 60% in strong iron ore...

28 Jul 2021

Fe Limited (ASX:FEL) has increased its exposure to the producing JWD Iron Ore Joint Venture in Western Australia during a strong iron ore market by lifting its interest in the project to 60%.

The company has exercised its option to purchase an additional 9% interest in the JV for consideration of A$2.5 million after receiving shareholder approval at an Extraordinary General Meeting on July 12, 2021.

What management says

22 Dec 2023

CuFe Ltd (ASX:CUF) CEO Mark Hancock joins Jonathan Jackson in the Proactive Australia studio to discuss the work being done ahead of the company’s maiden North Dam lithium and REE drill program in March 2024. The company remains on track for the program and has identified several drill targets. The company also continues to expand its leasehold, with a recent acquisition in the North Dam region. Hancock discusses the successes others have achieved around North Dam and the opportunities these successes may hold for CuFe in future. Finally, CuFe is also increasing its West Arunta project following recent niobium and REE discoveries.

CuFe on track to drill in March 2024

CuFe Ltd (ASX:CUF) CEO Mark Hancock joins Jonathan Jackson in the Proactive Australia studio to discuss the work being done ahead of the company’s maiden North Dam lithium and REE drill program in March 2024. The company remains on track for the program and has identified several drill targets....

on 22/12/23