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HDG 1.0¢

Iron Sand Deposit.


    1,551 Posts.

    I have been trying to find out information on the new Hodge Iron Sand deposits at Mokau/Manukau. Apparently these deposits extend to as much as 20 K. off-shore.
    These deposits contain Magnetite 8-16%, Titanium 1.3% to 2.6% and Vanadium from.6% to .14%.
    Apparently Hodge are targeting an overall resource from 2.5 B/T to 3 B/t. Even if the project falls well short of this mark it has the potential to be a very lucrative project.
    From my observations it could well mean an end result of 54-56 % magnetite concentrate
    With an OPEX in the reange of US$25 to $30/T.
    In the main the Capex costs of these projects are very low when compared to traditional
    magnetite projects.
    I have read somewhere that these type of magnetite projects that are around 10% Fe could
    be very bad for the local environment if sea water is subjected to a raise in temperature.
    So there should be a change in attitude to these types of projects around the world which in turn should make it a little easier to gain the necessary approvals.
    Has anyone any further information on this tenement because I have found information pretty hard to come by.

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