THE BOURSE WHISPERER: Burley Minerals (ASX: BUR) was welcomed onto the boards of the ASX on Wednesday by a feeding frenzy that saw the 20 cent IPO list on the positive side of 37 cents.
Burley Minerals listed on the back of the Yerecoin project, which the company believes has the nickel-copper-PGE potential to become another Julimar deposit that is located just 60 kilometres to the south.
The Yerecoin project already hosts a JORC 2012 compliant Indicated and Inferred Mineral Resources totalling approx. 247 million tonnes of high-grade coarse-grained magnetite at an average grade of 30 per cent iron.
Metallurgical studies have demonstrated magnetite concentrate at 68 per cent iron concentrate grade, considered by Burley to be a potentially premium coarse-grained magnetite product with low level impurities, suitable for direct sinter plant feed.
The company is led by CEO and managing director Gary Powell, who is supported by non-executive director Jeff Brill and executive chairman Bryan Dixon.