Stockhead's morning newsletter makes things simple: Markets coverage, company profiles and industry insights from Australia's best business journalists - all collated and delivered straight to your inbox every morning. “BCI is currently in discussions with multiple parties, including the parties referenced in the article,” company secretary Susan Hunt said in her response to the ASX. The article listed bidders like Ms Rinehart’s privately owned Hancock Prospecting, Mr Forrest’s Fortescue Metals Group (ASX:FMG), Mineral Resources (ASX:MIN) and BBI Group. Get the latest Stockhead news delivered free to your inbox. The problem for many players is their iron ore is much lower grade than what the big guys can produce. That’s what Catalyst has been doing along the Whitelaw Belt, a prospective zone some 75km long and 5-10km wide which runs to the north under younger Murray Basin sediments from the old out-cropping Bendigo goldfield. referenced in the article is speculative only.”. The Company extracts iron ore, uranium, zinc, gold, diamonds, and petroleum. Junior miner BCI Minerals has confirmed that its iron ore assets have attracted the interest of mining magnates Gina Rinehart and Andrew “Twiggy” Forrest. The drilling program was delayed while a 10-year retention licence on the property was secured with the Victorian government but is now in full swing. It's free. It recently increased its equity stake in Catalyst to 16 per cent by taking up a $5 million placement of shares. October 1, 2018 | Angela East, July 2, 2018 | Angela East, June 29, 2018 | Angela East. Drilling is now been wrapped up at Tandarra and there are some remaining assays to be reported. This has seen the bigger guys swoop in to pick up bargains to expand their own operations. Centaurus Metals (ASX:CXM) also still has its iron ore projects, but has expanded its portfolio to include nickel, cobalt, copper and gold. So look out for a ton of results from the program over the next couple of months before the weather sets in. Stockhead is providing factual information where there is a reasonable likelihood of doubt. “Terms of any transaction, including the value of assets making up the portfolio, have not been settled with any party and discussions are continuing. Lower grade iron ore suffered discounts of as much as 40 per cent in FY18 as Chinese steelmakers increasingly favoured higher quality feedstocks to boost mill productivity and meet more stringent pollution control measures. ‘Garimpeiro’ columnist Barry FitzGerald has covered the resources industry for 35 years. Ms Rinehart’s Hancock Prospecting has spent $4.2 million in recent years earning a 50 per cent interest in the Four Eagles gold project north of Bendigo in a joint venture led by ASX-listed Catalyst Metals (ASX:CYL). Unsubscribe whenever your want. There has been a mass exodus by junior players from the iron ore sector. October 10, 2018January 27, 2020 | Angela East. Mrs Rinehart's Hancock Prospecting has been chasing Asian partners to help build the 55 million tonnes a year project, which the company has previously flagged could cost up to $6 billion to construct. Catalyst is now a $1.15 stock, with the share price gain reflecting the hope that the company’s dominant ground position to the north of Bendigo – the “old’’ goldfield produced 22m ozs of gold in its heyday – contains another big deposit. Unsubscribe whenever your want. But a rough rule of thumb would be that its half interest accounts for 75 per cent or $60 million of its current market value of $80 million — implying a $60 million value for Ms Rinehart’s interest. Markets coverage, company profiles and industry insights from Australia's best business journalists - all collated and delivered straight to your inbox. The delivered product returned a high-grade 64.6 per cent iron with very low impurities. While Catalyst’s shallow gold discoveries are interesting enough, it is the potential for the discovery of deeper Bendigo and Fosterville-type multiple “stacked” shallow-plunging gold lodes which has fired up interest in the group’s exploration effort. BCI said the article also states the “portfolio is expected to be worth $100 million”. On that score, drilling at both Four Eagles and Tandarra have given some recent encouragement. The $100 million value Stockhead's morning newsletter makes things simple: Markets coverage, company profiles and industry insights from Australia's best business journalists - all collated and delivered straight to your inbox every morning.

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