Alchemists in their attempts to turn lead into gold were notoriously wrong... 1. Titanium content... Preliminary petrographic analysis has been carried out for Eastern Iron by Paul Ashley Petrographic and Geological Services. This preliminary result indicates potential both for an unbeneficiated magnetite (DSO) product similar to assays previously reported for massive magnetite samples from Hawkwood (ie circa 60% Fe, 9% TiO2, 0.5%V, 2% Al2O3, 1.7% SiO2) and a beneficiated product of substantially lower TiO2, SiO2 and Al2O3 and higher Fe. http://www.easterniron.com.au/media/announcements/28_Jun_10.pdf 2. Results to date... As reported in earlier mineralogical studies titanium mainly exists as a separate (ilmenite) phase which reports to the tailings and whilst no attempt has been made to produce an ilmenite product this represents an opportunity to derive further value from the ore during production. http://www.easterniron.com.au/media/announcements/2010/23_nov_Outstanding_Results.pdf 3. Rail lines The Eulogie project lies within Mineral Development Licence (MDL) 362, located 23km south of Mount Morgan and close to sealed roads connected to the main Moura?Gladstone railway line. This line is rated for high tonnage loadings and is part of the Central Queensland coal network. The acquisition of the Eulogie project provides Eastern with a potential additional source of iron ore in the Central Queensland area supplying a common export point at Gladstone Port. Eulogie is ideally placed with respect to infrastructure and potentially could be brought on stream at relatively low capital cost and in a short time frame. http://www.easterniron.com.au/media/announcements/2011/Eulogie_Iron_Project_Sale.pdf
Rail within 23km of first production centre... world class port... steel mill... Who needs QLD government... why would you go to New Zealand? Do your own research
BGD Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
