Aquilla Resources tables PFS on Hardey

THE BOURSE WHISPERER:    Aquila Resources has announced positive results from the Pre-Feasibility Study of the development of the Hardey iron ore deposit being developed by its 50% owned Australian Premium Iron Joint Venture.

Aquila identified the completion of the PFS for Hardey as the first stage in leveraging the investment in the West Pilbara Iron Ore Project rail and port infrastructure.

The PFS was focused on a direct ship fines product based on a blend of Brockman and Marra Mamba ores.

The company expects the decision to proceed to the next stage to be imminent for the commencement of the feasibility study for the development of Hardey.

“The PFS has confirmed the technical and financial viability of a development based on a 10 million tonnes per annum iron ore operation for 14 years, with 150 kilometres of new railway to join on to the proposed rail infrastructure for the Stage One Project, as well as the use of that project’s train unloader with expanded facilities at Anketell Port,” Aquilla said in an announcement.

Hardey is located approximately 150km south east of the southern terminal of the proposed rail line for the West Pilbara Iron Ore Project
Ship loading will be facilitated by adding an additional berth to the Stage One Project jetty and using the Stage One Project ship loader for the Hardey product.
Subject to approvals, construction of the Hardey Project could be integrated with the Stage One development, with first shipments expected during 2016.

The proposed extension of the rail network provides opportunities for other “stranded” deposits in the surrounding Pilbara area to access an export corridor through Anketell Port.

The West Pilbara Iron Ore Project has a substantial presence in the Pilbara region, with access to over 8,000km2 of prospective ground available through several joint ventures.