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2016 'a year of enormous change' says Ferrum Crescent exec chairman Justin Tooth

Mining group Ferrum Crescent (LON:FCR) has undergone a metamorphosis this year, switching from iron ore in Africa to a zinc and lead project in Spain.

Up until recently its main interest was the 97% it owned in the Moonlight iron ore project in South Africa, but as has been well documented that commodity has crashed in recent years.

Executive chairman Justin Tooth tells Proactive: ''2016 has been a year of enormous change for Ferrum Crescent. I came in right at the end of 2015 and took the reigns of the company at the end of March with a new strategy - to find a sector we thought we could deliver value in, to find a project we thought was suitable, that had a lot of embedded value that we could get for a reasonable price in terms of cash and shares and then hope to deliver swiftly a series of news flow on how we can take it forward''.

In terms of why zinc, Tooth says: '''It's proved to be the right choice this year and even in the last week or so we've really seen the price start to rocket''.

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