Their IO project is just too far from port to be economic. While IO prices were at their peak there was some interest but production costs of $80/t are just too high.
They do have some prospective gold tenements, including Mt Forrest itself. The company originally listed as a gold explorer but shifted to iron ore. Taking them a very long time to switch back. The directors don’t seem to keen to doo much but they are also the ones keeping the company afloat with cash injections.
Too think these guys knocked back a JV with Sumitomo back in the day as it undervalued the company.
Their IO project is just too far from port to be economic. While...
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