"Rio Tinto expanding Pilbara IRON ORE footprint."-6 days ago.9 May 2022 19:00
"Rio Tinto expanding P i l b a r a IRON ORE footprint."-Australian Resources, 6 days ago.
Rio is talking options in 2 TENEMENTS at the SYLVANIA iron ore prospect [+4 others in the licence area].
It is 15km South West of Newman proximate to BHP's Newman iron ore mine.
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IRON ORE: PILBARA , WESTERN AUSTRALIA
[] Gina Rinehart enters into a 9% initial stake at Mt Bevan, Pilbara, W.Australia NEXT DOOR to Juno [ASX] at MT MASON [hematite]. Mt Bevan has two projects, one is a MAGNETITE iron ore prospect at 1.1bt tonnes.
[] Sino iron ore, Pilbara, W.A has just reported they made a profit of $1.3 bn from their MAGNETITE iron ore mine thus furthering interest in magnetite iron ore. Sino's deposit is 4bn tonnes.
[] Rio Tinto now enters the iron ore space ie expand footprint in Pilbara iron ore, W.A.
-----------Juno MD stated : M T I D A , Pilbara, W.A is the most technically advanced in the Yilgarn . The prospect is at 1.85bn tonnes and the objective i to complete the Feasibility Study. Durack , MD said Mt Ida is a potential TIER 1 - MAGNETITE iron ore.
A. Bell said in a recent interview with Stockbox Media that the exploration target for Mt Ida is 2-3bn tonnes. -------------
RRR'S INTEREST IN MT IDA.
1.4m shares in Juno, ASX listed.
1/2 of 1.5% royalty at Mt Ida.
[Juno's Mt Mason is at Investment Decision time per latest Ann]
https://hotcopper.com/ASX/JUNO/
Edison: They put Mt Ida value at US$1.165 BILLION [based on 1.1bn-1.3bn tonnes] and at US$3.50 per tonne. This equates to a buy-out price because the iron ore price is around the US$150/tonne mark [ give and take]. So, with Mt Ida now at 1.85 bn tonnes, the Edison cals will have to be revised.
So, RRR 's balanced portfolio has exposure to iron ore in the Pilbara, W.A and more importantly a potential TIER 1. Gina's huge Roy Hill iron ore mine is at some 2.4bn tonnes.
Mon, 9 May 2022.