IOH prepares sale catalogue.
THE BOURSE WHISPERER: Diversified ASX-listed explorer Iron Ore Holdings is conducting a review of its portfolio of high-quality iron ore tenements and projects located in the Pilbara region of Western Australia.
The review is part of a previously announced commercialisation process, which has resulted in a formal review process of the company’s Central satellite projects and prospects, all falling under the collective term of ‘Satellites’ to have commenced.
The Satellites are located in IOH’s Central Hub, sitting approximately 100 kilometres north-west of Newman.
The Satellites comprise of six deposits across four tenement groups that host a combined Resource of over 208 million tonnes.
Source: Iron Ore Holdings
The company has appointed PCF Capital Group as corporate advisor to assist it with the strategic review and will now commence a confidential “expressions of interest” process
IOH anticipates the process to last at least two months, after which it will make further decisions on the preferred development model for the Satellites.
“The commencement of this Satellite review process is another important step in IOH positioning itself to realise value from all its iron ore assets,” Iron Ore Holdings managing director Alwyn Vorster said in a company release.
“The Satellites represent one of the four pillars of the IOH commercialisation strategy.
“The other pillars being Iron Valley in the Central Pilbara, Bungaroo South in the Western Pilbara and the Maitland River magnetite prospect.”
Mining pre-feasibility level study activities being carried out by IOH on Iron Valley continue on track for finalisation in the next calendar quarter and task scoping for a potential Bungaroo South pre-feasibility study phase has commenced.
IOH’s total JORC Resources remain at 689 million tonnes at present.
An extensive drilling program at the Maitland River magnetite deposit is underway and further announcements regarding the additional identified resources are expected to follow.
IOH is also continuing strategic discussions with potential project partners and other interested parties across its portfolio, and with authorities regarding port capacity allocation at Port Hedland and the future Anketell Port.