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An update from Genmin Ltd. ( (AU:GEN) ) is now available.
Genmin advanced a Pre-Feasibility Study Addendum for the Baniaka Iron Ore Project during the March quarter, updating engineering, mine design and processing parameters to reflect current costs, market forecasts and potential future expansion. The company engaged PowerChina for EPC-related inputs, continued discussions with Gabon’s rail operator SETRAG and Owendo Mineral Port on tariffs and capacity, and began evaluating non-Chinese sales options to lower freight costs.
Project financing efforts also progressed, with multiple visits to China to advance funding talks with SHICO and other Chinese entities, and preparations for site visits by potential financiers in April and May. Timing for completion of the PFS Addendum has slipped to the end of the June quarter due to ongoing rail and port negotiations, while Genmin has extended non-binding offtake MoUs with major Chinese steelmakers to align with revised development and financing schedules.
More about Genmin Ltd.
Genmin Ltd is an Australian-listed resources company focused on developing the 100%-owned Baniaka Iron Ore Project in south-east Gabon. The project is planned as a conventional open-pit mining operation producing high-quality, low-emissions iron ore products for export, with logistics based on Gabon’s existing rail network and mineral port infrastructure.
Technical Sentiment Signal: Sell
Current Market Cap: A$24.2M
For detailed information about GEN stock, go to TipRanks’ Stock Analysis page.