Project concepts have previously included the production of pig iron at or near the Moonlight site. However, the Company now believes, that the initial development concept for the Project is likely to involve mining at site and the production of an iron ore concentrate for transportation via a slurry pipeline to a dewatering and loading facility to be located in Thabazimbi. The high grade product would initially be sold to the domestic market. To this end, Ferrum has received a Letter of Intent ("LOI") for production offtake.
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