Territory Iron Ltd is looking to raise 10 million dollars and list on the ASX so it JL can advance its plans to revive the Frances Creek iron ore operations in the Northern Territory. The funds would be used to assess Frances Creek's potential and investigate a number of related targets in the Rum Jungle, Warrego and Mt Bundey areas. Frances Creek is located about 200 kilometres south of Darwin, Rum Jungle is 100 km south of Darwin while Mt Bundey is about 100 km south-east of the NT capital. The company's project portfolio contains 27 tenements held either directly by Territory Iron or under deals with other parties. Frances Creek is favoured by the company for its iron ore perspectivity and proximity to road, rail and port infrastructure.
展开▼
