Projects

PROJECT STATUS
BLUE SKY Barrambie Vanadium Project

Definitive Feasibility Study into the production of around 6300t of ferrovanadium per year is due for completion in January 2009.

An MOU for the offtake of the entire production during the first ten years has been signed with a major commodity trader.

Mt Finnerty Nickel

Western Areas have identified four highly anomalous soil geochemical anomalies that are coincident with the basal ultramafic/basal contact, spread over 10km of strike.

Western Areas has agreed to spend $3 million in order to earn a 65 per cent interest in the nickel rights.

Mt Finnerty Iron Ore

Portman have identified significant potential for economic bedded and secondary iron resources at Mt Finnerty.

Portman has earned an eighty per cent interest in Reed Resources' Mt Finnerty Iron Ore project.

Comet Vale Nickel

Heron Resources has agreed to spend $400,000 in order to earn a 70% interest in part of the Comet Vale Nickel Project.

GROWTH Comet Vale Gold

Targeting production of around 35,000oz p.a. The system is open at depth and along strike.

CASHFLOW Comet Vale Gold

In production under JV with Kingrose Pty Ltd (50%).

COMMODITY PROJECT
STEEL Barrambie
Mt Finnerty
GOLD Comet Vale
Mt Finnerty
NICKEL Mt Finnerty
Comet Vale