Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Friday 03rd of September 2010
Tuesday, May 27, 2008

Murchison reports mineral resource upgrade at Jack Hills

Murchison reports mineral resource upgrade at Jack Hills

Murchison Metals Limited, the Australian listed iron ore company, has announced a substantial upgrade of mineral resources at its Jack Hills project in Western Australia.

The mine is operated by Crosslands Resources (a 50/50 joint venture with Mitsubishi Development), which has reported that the mineral resource has risen 13%, to 79.1 Mt, and beneficiation feed mineral resource has risen more than fivefold, to 445MT.

Murchison’s managing director, Trevor Matthews, has described the increase as an important boost to the development of the Jack Hills project and indicative of its underlying value.

He is also confident that it will reinforce the value proposition to all shareholders of Murchison’s proposed merger with Midwest Corporation.

Midwest is a rival iron ore developer and the companies have been negotiating an agreement that will take the form of a reverse takeover of Midwest by Murchison.

The Jack Hills mine is currently in its first stage of development, which should see production of iron ore raised to 2.0 million tonnes per annum over five years.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Murchison reports mineral resource upgrade at Jack Hills

Closer of offer for Midwest ...

Midwest rejects Sinosteel proposal ...

Murchison abandons merger with Midwest ...

Western Areas update on Spotted Quoll nickel project ...

Verena increases 66.7% resource estimate ...

Latest Metals News:

Latest News  US pending home sales data helps copper prices

Latest News  Positive data chases gold prices lower

Latest News  Gold gains on search for safetey ahead of economic data

Latest News  Gold gains as US dollar weakens

Latest News  Gold prices fall on US jobs news

Latest News  US durable goods orders, new home sales drive metals price moves

Latest News  Gold gains, copper drops on US home sales data

Latest News  Copper prices fall on economic, demand concerns

Latest News  US unemployment numbers hurt copper prices

Latest News  Copper prices gain on more inventory declines


Previous: «
Next: »

Visited 3596 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):