THE BOURSE WHISPERER: As they say in the classics; it’s better to have 50 per cent of a project than 100 per cent of no project.
Wilcherry Hill JV in offtake discussions
IronClad Mining (ASX: IFE) is in deep discussion regarding the potential sale of direct shipping iron ore from the Wilcherry Hill Joint Venture with Arrium Limited (ASX: ARI) (formerly One Steel Limited) in Whyalla, South Australia.
IronClad is conducting the discussions in its capacity as manager of the Wilcherry Hill JV (IFE 80% and Trafford Resources [ASX: TRF 20%]).
IronClad indicated that if an agreement is reached with Arrium, it is the JV’s intention to mine an initial trial pit at Wilcherry Hill.
The trial pit would generate high-grade iron ore for direct sale to Arrium Limited and produce additional bulk samples for ongoing beneficiation test work.
Mining of the proposed trial pit would commence in November 2014 and take approximately five months to complete.
Northern Territory acquisition and JV
Phoenix Copper (ASX:PNX) has entered into an agreement to acquire and earn into advanced gold and under-explored base metals projects in a two part $4 million agreement with Crocodile Gold Australia, a subsidiary of TSX-listed gold producer, Crocodile Gold Corp.
Under this Asset Sale and Farm-in Joint Venture Agreement Phoenix Copper will, subject to conditions precedent being satisfied, acquire the Iron Blow and Mount Bonnie massive sulphide deposits north of Pine Creek, and have the right to earn up to a 90 per cent interest in the Burnside, Moline and Maud Creek base metals (excluding uranium) and gold exploration projects.
All project areas are within the Pine Creek Orogen located 180 kilometres to the southeast of Darwin and, according to Phoenix Copper, are well positioned in regard to mining infrastructure, rail, road, natural gas and power.
Adelaide and Investigator strike Thurlga JV
Adelaide Resources (ASX: ADN) and Investigator Resources (ASX: IVR) have entered into a farm-in and joint venture agreement – to be known as the Thurlga Joint Venture – to explore one of AND’s Eyre Peninsula tenements for mineral deposits.
The tenement the subject of the Thurlga Joint Venture, EL 5419, secures 333 square kilometres of ground in the emerging Uno Province on the northern Eyre Peninsula.
Investigator Resources’ Paris silver deposit is located on the tenement immediately east of EL 5419.
Investigator has announced a Maiden Inferred Mineral Resource at Paris of 5.9 million tonnes at 110 grams per tonne silver and 0.6 per cent lead for 20 million ounces of contained silver and 38,000 tonnes of contained lead (at a 30g/t silver cut-off).