Macro Metals Advances Pilbara Extension Iron Ore Project with A$5.3m Development Budget

Kogi Iron Ltd. ( (AU:M4M) ) has issued an announcement.

Macro Metals has secured approval from the shareholders of Project Rusty Pty Ltd for a A$5.3 million budget to advance the Extension Iron Ore Project in the Pilbara to mine construction readiness, covering remaining technical, environmental, heritage, and feasibility work. The program, managed and delivered by Macro Mining Services, will support regulatory approvals, resource definition and metallurgical optimisation, a 200,000-tonne bulk sample for product and funding validation, and finalisation of offtake agreements, underpinned by a JORC 2012 Indicated Mineral Resource of 16.1Mt at 54.2% Fe and confirmed 4.0Mtpa export capacity via Utah Point in Port Hedland, materially de-risking logistics and enhancing the project’s development prospects and revenue potential for Macro and its shareholders.

The most recent analyst rating on (AU:M4M) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Kogi Iron Ltd. stock, see the AU:M4M Stock Forecast page.

More about Kogi Iron Ltd.

Macro Metals Limited is an Australian iron ore company listed on the ASX, focused on developing iron ore assets in the Pilbara region of Western Australia. Through its 27.3% equity stake in Project Rusty Pty Ltd and its wholly owned subsidiary Macro Mining Services Pty Ltd, which holds a life-of-mine mining services contract, the company combines project ownership with contracted mining services revenue, positioning itself to benefit from both production and operational activities at the Extension Iron Ore Project.

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Technical Sentiment Signal: Sell

Current Market Cap: A$38.84M

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