Sydney - Monday - July 4: (RWE Aust Business News) - Iron Road (ASX:IRD) has a resource upgrade for the Central Eyre iron project, South Australia, increasing it in size from 1.23 billion tonnes to 1.33bnt. The upgrade comes as part of an ongoing mineral resource expansion at Murphy South. With the establishment of over one billion tonnes in resources at Murphy South alone, Iron Road continues to demonstrate the necessary size and scale of resource to underpin the capital required for a potential long life initial 12.4Mtpa high grade iron concentrate export operation and the development of associated export infrastructure. Prefeasibility test work has demonstrated that at high quality concentrate grading 67pc iron can be produced at Murphy South using a coarse grind size of -106im. This product is suited as a high grade blast furnace sinter feed with low impurities.
IRD Price at posting:
85.5¢ Sentiment: LT Buy Disclosure: Held
