WPG 0.00% 1.5¢ wpg resources ltd

todays herald sun newspaper

  1. 7,334 Posts.
    THE list of small iron ore players continues to grow with Western Plains Gold the latest player.
    Chairman Bob Duffin is so excited by the potential of the haematite Peculiar Knob deposit in South Australia that he is becoming an executive until the project is a goer.

    Chinese commodity trader China Kingdom is preparing to take shares, sign offtake agreements and provide $30 million to bring the project to fruition and Bob said there's no shortage of other iron ore consumers keen to deal with companies other than the giants BHP, Rio Tinto and CVRD.

    "We have got really high quality ore that will be ship ready so there is no problem finding a home for it," he said.

    Unlike some projects, Peculiar Knob won't need a massive amount of new infrastructure to enter production and Bob is aiming for first ore in 2008.

    It lies north of Oxiana's Prominent Hill development and is 100km from the Adelaide to Darwin railway line.

    Once on the railway the ore could be sent to ports at Whyalla, Port Bonython or even Darwin.

    Grades at Peculiar Knob are an impressive 63.2 per cent iron with very low impurities.

    Previous exploration suggests 14 million tonnes, but further drilling and the Hawks Nest deposit could boost that total.


 
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