Thanks for the input prawn, Ill have a look later, any idea of similar MS companies out there? I've heard people comparing Image to Iluka back when it was starting up, would that really be fair?
Tukker
THE struggling mineral sands miner Iluka Resources revealed it is dependent on an iron ore mine royalty, land sales and the sale of its interest in a coal mine to keep it profitable while its core operations are in a transitional phase.
A broker a LONG time ago gave Cooljarloo an estimated resource of 100 -200 million tonne of ore grading at about 5%HM. It is possibly on the website a long time ago.
Given that this was perhaps up to one year ago, I would say we should be at the 200 million tonne at 5%, which gives HM of 10 million tonne. I wouldn't be surprised if the grade is higher than this (they said they had a large core grading at least 10%).
c.f. bemax (new producer really struggling against strong $A) has Reserves and resources of 12.6Mt and 98.8Mt of contained HM
Hi Tukker
Check your sand density (SG) - sands are normally in the range 1.5 - 2.0, depending on whether they are loose or dense. For what it's worth, concrete is 2.4, aluminium is 2.7, steel is 7.85, and gold is 19.3
A comprehensive reinterpretation of Image’s existing ground magnetic data and of recently completed ground magnetic surveys in the North Perth Basin has highlighted a major increase in cumulative target length from 120km to 247km.
It is relevant to point out that to date Image has delineated an aggregate strike length of some 38km of mineralised strands, largely based on drilling of ground magnetic targets. Based on these results it is anticipated that a significant proportion of the 247km of targets identified in the review are likely to convert to resources when they are drilled.
MaybeThe Daily Reckoning makes mention of a small australian company holder of fossil beaches in the North Perth Basin in their recommendations for tonights report. I think it is Image after today's announcement. What do you think?
A comprehensive reinterpretation of Image’s existing ground magnetic data and of recently completed ground magnetic surveys in the North Perth Basin has highlighted a major increase in cumulative target length from 120km to 247km.
--Is bauxite the next iron ore? Or is zircon the next bauxite? We just wrapped up our investigation into Australia's mineral sands industry. A long-line of prospective new producers are lining up. But most of them have yet to really define their resource base, much less put out a realistic valuation to shareholders based on the market price for zircon, ilmenite, and rutile (the two main feedstocks of titanium dioxide pigment).
--But even Rio Tinto has noticed zircon prices are rising. Zircon is what we'd call an "element of urbanisation." It's used to glaze ceramics and glass. Demand is driven by the big demographic trends in China and India, where people are moving off the farm and into the city.
--Assuming the world doesn't starve itself by overproducing people and underproducing food, demand for zircon, ilmenite, and rutile is going to grow. That means more producers will be needed in Australia, which already has the world's largest economically defined resource of mineral sands and is the world's leading producer.
--The hot regions for new production and exploration are the Murray Basin and the Eucla Basin. After careful investigation, though, we reckon the North Perth Basin is where the real action will be. After all, that's where all the action has been in the last 40 years. There are some familiar patterns emerging where new companies are accumulating tenements and drilling on properties right next door to known mineral sands mines. It's a pretty clever strategy. Will it work? We'll keep you posted.
Nice deduction. Sure looks like they are pointing to image. My uncle has a significant holding in image and he has regular chats with the board, he says he is cautiously optimistic about the next couple of months. Being a stern conservative I'd say he is pretty upbeat on it.
Interesting to see Image hold a share price higher than some producers'. Do you think thats the takeover value factored in Grace?
Indicated and Inferred Resources in an initial 7 deposits total 260Mt @2.4%HM (heavy minerals), containing 6.4Mt of HM.
• The resources defined so far contain a total of:
- 340,000 tonnes of leucoxene and rutile
- 4,500,000 tonnes of ilmenite
- 545,000 tonnes of zircon
- 390,000 tonnes of garnet
• A high valuable heavy mineral content of 87%.
• The resources outlined to date are contained within 60km of ground
magnetic targets, comprising only 20% of the 300km of magnetic targets
defined so far. The remaining 247 km of targets have yet to be drilled and
some 68% of the project area remains to be surveyed, indicating a high
probability of further significant discoveries increasing the resource base.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?