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Oceanic Iron Ore ( (TSE:FEO) ) just unveiled an announcement.
Oceanic Iron Ore has reported Phase 2 metallurgical testwork results from its Hopes Advance project in northern Québec, confirming that its gravity concentrate can achieve roughly 98% iron recovery at a 68% Fe direct reduction (DR) grade with very low silica and high weight recovery, aligning with Canadian critical mineral qualification standards. The work also shows promising performance from magnetic separation, suggesting flowsheet options such as flotation and wet high-intensity magnetic separation to optimize capital and operating costs, and indicates that magnetic concentrate could supplement DR-grade gravity feed. Together with prior results, the program demonstrates that Hopes Advance can produce both conventional blast furnace/basic oxygen furnace product and premium DR-grade concentrate with modest flowsheet modifications, enhancing product versatility, potential price premia, and strategic appeal to green steel and other high-quality iron ore buyers.
More about Oceanic Iron Ore
Oceanic Iron Ore Corp. is a Canadian mineral exploration and development company focused on advancing its 100%-owned Hopes Advance iron ore project in northern Québec. The project is designed to produce high-grade iron ore concentrates for blast furnace/basic oxygen furnace and direct reduction applications, targeting low-cost, premium-quality supply to steelmakers, including those pursuing lower-carbon, green steel production.
Average Trading Volume: 120,669
Technical Sentiment Signal: Buy
Current Market Cap: C$102.5M
For a thorough assessment of FEO stock, go to TipRanks’ Stock Analysis page.