THE BOURSE WHISPERER: 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.