WA junior attracts Chinese for iron ore development

摘要

One company that has recently been in the fast lane in terms of share price acceleration is Gindalbie Metals Ltd, which is aggressively progressing its iron ore ambitions in Western Australia's Mid West. A former gold miner (with Two Boys and Minjar) Gindalbie is entering new territory and has experienced a significant re-rating in the market since divesting its Minjar gold and base metal assets to focus solely on the development of its Karara iron ore project, located some 220 kilometres south east of Geraldton. The junior plans to develop two mining operations in the project area, including the stage one Karara hematite play (which will produce direct shipping ore starting in the middle of next year) and the stage two Karara magnetite project, where the focus will be on the development of the world-class Karara magnetite ore body to produce blast furnace iron pellets.