- Portfolio assessment by new administration crew validates vital scale of Lincoln’s Inexperienced Iron Mission on South Australia’s Eyre Peninsula, underpinned by 1.2 billion tonne magnetite useful resource1.
- Beforehand accomplished research contemplated manufacturing eventualities of three – 10 million tonnes each year of magnetite focus analysing all features of undertaking growth, together with mining, processing, logistics, port, energy and water.
- Earlier incomplete feasibility research demonstrated the undertaking’s beneficial metallurgical properties, together with excessive recoveries, excessive resultant iron ore grades and beneficial grind dimension traits.
- The graduation of a partnering course of for Lincoln’s Inexperienced Iron Mission is step one in the direction of unlocking shareholder and regional worth from its magnetite useful resource. The Firm understands the native Eyre Peninsula neighborhood has an curiosity in our tasks and Lincoln seems to be ahead to working constructively with the neighborhood to develop this vital Inexperienced Iron Mission.
- Current initiatives geared toward decarbonising Australia’s metal business are anticipated to assist third celebration undertaking curiosity, noting plans by the SA Authorities to replace its magnetite technique, through which Lincoln has been requested to take part.
- Mission partnering course of geared toward advancing the undertaking to Definitive Feasibility Examine (DFS) standing and full approval paperwork to begin imminently, overseen by Lincoln Director Julian Babarczy.
- Worth realised from Lincoln’s Inexperienced Iron Mission will fund and fast-track growth of the Kookaburra Graphite Mission, the Firm’s core asset and first focus.
The Inexperienced Iron Mission partnership course of, which Lincoln is launching as we speak, seeks to determine a funding and undertaking associate for advancing the Inexperienced Iron Mission to operational standing. The preliminary part includes progressing the undertaking to Definitive Feasibility Examine (DFS) standing and finishing obligatory approval paperwork. It is very important word that earlier DFS-level research and regulatory approvals weren’t finalized, though have been properly superior. The aim of the partnering course of is to grasp worth for shareholders and probably safe funding for the Kookaburra Graphite Mission (KGP) whereas minimizing fairness dilution for Lincoln shareholders.
Lincoln Director Julian Babarczy stated, “We imagine there may be substantial potential worth in Lincoln’s 100%-owned Inexperienced Iron Mission, which in our view is at present not mirrored in Lincoln’s share value, resulting from a ignorance by the market of the size and attractiveness of earlier research outcomes. Throughout the sturdy iron ore pricing atmosphere of 2010-2012, the undertaking attracted vital funding in addition to sturdy engagement from main metal firms, nonetheless undertaking development halted as a result of retracement of iron ore costs in subsequent years.
Following our assessment of the undertaking, it’s clear it has a compelling and vital scale, with detailed but incomplete, superior stage feasibility research undertaken on all features of the undertaking displaying the potential to supply a really high-quality magnetite end-product with beneficial metallurgical traits, excellent for the manufacturing of inexperienced metal within the area. I stay up for overseeing this vital partnering course of for the Firm within the months forward.”
Lincoln CEO Jonathon Trewartha stated,“Magnetite, with its environmental benefits, has emerged as an interesting choice for sustainable, low carbon metal manufacturing. Lincoln’s Inexperienced Iron Mission, centered on producing a coarse-grind, high-grade iron ore focus, is anticipated to draw curiosity from potential metal producers, as has been the case with different friends within the area. The undertaking’s distinctive properties, constructive environmental impression, and proximity to established infrastructure and workforce contribute considerably to the undertaking’s attractiveness.”
“Lincoln Minerals has lately unearthed a wealth of belongings throughout an intensive assessment of the corporate’s general portfolio. Amongst these are the iron ore belongings, which symbolize only one side of Lincoln’s underlying worth and potential. Moreover, we’re within the ultimate levels of evaluating Lincoln’s Uranium belongings, which we stay up for updating shareholders on shortly.”
“Whereas we stay centered on growth of our Kookaburra Graphite Mission, our intention is to ship most worth to our shareholders and realise worth from belongings inside our broad portfolio in one of the best pursuits of shareholders.”
Overview of Lincoln’s Inexperienced Iron Mission
Lincoln’s Inexperienced Iron Mission encompasses iron ore rights for a large-scale magnetite undertaking on the Eyre Peninsula in South Australia, with a JORC Mineral Useful resource estimate of >1.2 Bt of magnetite iron ore, which has demonstrated sturdy metallurgical recoveries and a high-quality finish product (as displayed in Desk 1).
Desk 1: Mixed Complete Mineral Sources by Useful resource classification##For additional particulars regarding Lincoln’s magnetite useful resource, please consult with ASX launch dated 21 March 2024, titled “1.2Bt Eyre Peninsula Inexperienced Iron Mission Partnering Commences”.
Mineral Sources & Metallurgy1
Underpinning Lincoln’s Inexperienced Iron Mission is a magnetite Complete Mineral Useful resource of 1.2 Bt at a head grade of 25.7% Fe, which is taken into account vital as a result of optimum location of the useful resource, the strongly supportive metallurgical traits, the general potential scale of the undertaking in addition to the lately emerged desire for top of the range magnetite feedstock for inexperienced metal manufacturing.
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