Fe Limited to receive iron ore royalty payment from new Deception mine
Mineral Resources brought the mine into full production in the March quarter and royalty payments to FEL are expected to increase.
Company
ASX:FEL
CuFe Ltd (ASX:CUF) is an emerging iron ore producer with a strategy focused on near-term, high-grade premium product iron ore projects and maintaining exposure to strategic metals. The company has interests in various advanced iron ore projects along with copper and gold interests in Australia.
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Mineral Resources brought the mine into full production in the March quarter and royalty payments to FEL are expected to increase.
The 1,600 square kilometres of tenements are in proximity to numerous known hard rock lithium and gold deposits.
FEL is acquiring lithium projects near Fortescue Metals Group discoveries in the Pilbara region of WA.
Positive results have been returned from drilling by Auris at Forrest and Wodger projects as Sandfire seeks new feed sources.
The company is acquiring two highly prospective lithium projects in the Pilbara region.
Visible copper mineralisation has been intersected in two diamond holes completed at the Forrest prospect.
Recent lithium deposit discoveries have made this region one of the hottest in the electric vehicle battery space.
Assays from the drilling show high-grade copper and gold at the Forrest and Wodger prospects.
Investments and investor services
FEL chairman Tony Sage shares the excitement of Sandfire Resources in WA’s prolific Bryah Basin owing to FEL's significant interest.
Investments and investor services
Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
The company has a free carried 20% interest in a number of prospects in the highly prolific copper-gold region.
New drill results include 12 metres at 0.52% copper from 36 metres at Wodger North and 4 metres at 0.5 g/t gold from 16 metres at Big Billy South.
The company is firming up supplies of copper and cobalt in the DRC and Zambia.
Recent analysis of historical drilling pulps revealed an intersection of 9 metres at 5.8% copper from 76 metres at the Forrest prospect.
Chairman Tony Sage says the company shares the excitement of Sandfire Resources in the prolific Bryah Basin.
The Forrest Project area includes the Wodger, Big Billy and Forrest prospects.
The company has a 20% interest in the Forrest Project alongside Auris Minerals Ltd.
Stock has increased to 2.3 cents following recent encouraging news from DRC and Western Australia.
A targeted drilling program is planned to further investigate previous copper results and to follow up on new cobalt results.
Sandfire Resources has extended its base metals farm-in rights through an agreement with Alchemy Resources.