Tempest Minerals Achieves Milestone with Inaugural Resource Estimate at Remorse Deposit

The latest announcement is out from Tempest Minerals Limited ( (AU:TEM) ).

Tempest Minerals Ltd has announced the completion of its inaugural inferred resource estimate for the Remorse Magnetite Iron Deposit, marking a significant milestone in the transition from exploration to resource definition. The estimate, which comprises 63.5 million tonnes at 30.6% iron, provides a foundation for future development studies and potential mining operations. The company anticipates further increases in resource size with ongoing drilling and development. This development positions TEM to advance from an explorer to a developer, supported by a memorandum of understanding with GreenSteel and Iron Pty Ltd for potential processing synergies.

More about Tempest Minerals Limited

Tempest Minerals Ltd (TEM) operates in the mining industry, focusing on the exploration and development of mineral resources. The company is involved in the Yalgoo Project in Western Australia, which includes a large magnetite iron deposit known as the Remorse Deposit. TEM collaborates with various companies across multiple commodities, including base metals, gold, and iron.

Technical Sentiment Signal: Buy

Current Market Cap: €1.43M

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