Private company with 100% project ownership
Midwest focused iron ore developer
Meeting growing demand for high purity concentrate for the low carbon steel market
Low capex hurdle to deliver a high value product (69% Fe – DR Grade)
Excellent Location
400km northeast of Perth
180km from the Port of Geraldton by rail or road
Surrounded by high quality existing infrastructure
Extensive Infrastructure
Immediately adjacent to both ANSTEEL and Sinosteel
Existing sealed roads to the Port of Geraldton
Rail line to site
Existing 330kV power (WA State Government)
Lodestone Magnetite “Unique Characteristics”
- Coarse grained, fully recrystallized magnetite ore body, 10 to 100 x coarser than any other known deposit in Western Australia
- High quality concentrate (+69% Fe) liberated at a very coarse grind (250 microns)
- Major value driver is location and access to existing infrastructure
- Low CapEx hurdle – No infrastructure required outside mine gate
What are the Major Advantages of that Coarse Grained Nature?
- Allows for a simple circuit design
- Substantial savings in operating costs
- Massively reduces pre-production capital
- Staged development opportunities
Concentrate Grade vs Grind Size
Lodestone Cross Section
Background/History
Work Completed to Date
- Privately owned and funded for over a decade
- Initial discovery and maiden drill program – 2012
- Completed three RC programs for over 5,000 metres of drilling – 2021 & 2023
- Maiden JORC resource estimate
- Two phases of metallurgical testwork completed (ALS Labs)
- Independent metallurgical review completed (Allegiant Minerals Engineering)
- Independent Engineering Study completed (Sedgman Engineering)
- Commissioned Independent Financial Model (Anandarasa Consulting)
