- Portfolio evaluation by new administration workforce 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 situations of three – 10 million tonnes every year of magnetite focus analysing all facets of challenge growth, together with mining, processing, logistics, port, energy and water.
- Earlier incomplete feasibility research demonstrated the challenge’s beneficial metallurgical properties, together with excessive recoveries, excessive resultant iron ore grades and beneficial grind measurement 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 group has an curiosity in our initiatives and Lincoln seems ahead to working constructively with the group to develop this essential Inexperienced Iron Mission.
- Current initiatives aimed toward decarbonising Australia’s metal business are anticipated to assist third get together challenge curiosity, noting plans by the SA Authorities to replace its magnetite technique, wherein Lincoln has been requested to take part.
- Mission partnering course of aimed toward advancing the challenge to Definitive Feasibility Research (DFS) standing and full approval paperwork to start 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 immediately, seeks to determine a funding and challenge accomplice for advancing the Inexperienced Iron Mission to operational standing. The preliminary section includes progressing the challenge to Definitive Feasibility Research (DFS) standing and finishing needed approval paperwork. It is very important be aware that earlier DFS-level research and regulatory approvals weren’t finalized, though have been properly superior. The objective of the partnering course of is to understand worth for shareholders and doubtlessly safe funding for the Kookaburra Graphite Mission (KGP) whereas minimizing fairness dilution for Lincoln shareholders.
Lincoln Director Julian Babarczy stated, “We consider there may be substantial potential worth in Lincoln’s 100%-owned Inexperienced Iron Mission, which in our view is at the moment not mirrored in Lincoln’s share worth, as a consequence of a lack of know-how by the market of the dimensions and attractiveness of earlier research outcomes. Throughout the sturdy iron ore pricing atmosphere of 2010-2012, the challenge attracted vital funding in addition to sturdy engagement from main metal corporations, nevertheless challenge development halted as a result of retracement of iron ore costs in subsequent years.
Following our evaluation of the challenge, it’s clear it has a compelling and vital scale, with detailed but incomplete, superior stage feasibility research undertaken on all facets of the challenge 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 sit up for overseeing this essential 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 challenge’s distinctive properties, optimistic environmental impression, and proximity to established infrastructure and workforce contribute considerably to the challenge’s attractiveness.”
“Lincoln Minerals has just lately unearthed a wealth of property throughout an intensive evaluation of the corporate’s total portfolio. Amongst these are the iron ore property, which symbolize only one aspect of Lincoln’s underlying worth and potential. Moreover, we’re within the remaining phases of evaluating Lincoln’s Uranium property, which we sit up for updating shareholders on shortly.”
“Whereas we stay centered on growth of our Kookaburra Graphite Mission, our goal is to ship most worth to our shareholders and realise worth from property inside our broad portfolio in the very 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 challenge 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 referring to Lincoln’s magnetite useful resource, please discuss 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 challenge in addition to the just lately emerged choice for prime quality magnetite feedstock for inexperienced metal manufacturing.
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