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Gindalbie Metals defers iron ore feasibility study

Gindalbie Metals Ltd has deferred the expected completion of the bankable feasibility study for its Karara iron ore project by six months to August 2007 but is still aiming to commence production by late 2009.
Managing director Garrett Dixon said the deferral was a joint decision by Gindalbie and its Chinese joint venture partner Ansteel.
The delay in completing the feasibility study was attributed to three factors: an increase in the size of Gindalbie's magnetite deposit, located south-east of Geraldton; delays in obtaining ore samples for pilot plant testing; and Ansteel reviewing its preferred off-take specifications.
"The real driver has been the increase in the resource," Mr Dixon told WA Business News.
Gindalbie also disclosed that several key elements of the engineering and detailed design process will be undertaken in China following discussions with Ansteel.
Mr Dixon said Ansteel will take over the design of the concentrator, which will supply feedstock for Ansteel's pellet plant in China.
"Its turned into a real joint venture," he said.
Engineering firms Thiess and Promet Engineers have been undertaking the feasibility study to date.
Gindalbie also disclosed that it has not settled on its preferred power supply for the project, nor its preferred shipping arrangement at Geraldton port.
The company previously announced that engineering plans for a new shiploader and berth were due to be concluded in January.
Gindalbie also announced that its phase one Karara hematite project, which was due to commence exports in the second quarter of 2008, would be considered as part of the much larger Karara magnetite project.

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Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
37thLiontown Resources256%21%
323rdEneabba Gas14%-14%
368thGindalbie Metals6%-35%
735thMount Ridley Mines-50%25%
786thKin Mining-63%0%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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10/04/13
$59k Bought
13/12/12
$25k Bought
11/12/12
$25k Bought
Total value as at the date of the transaction
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330th↑Eneabba Gas$8k
331st↓Liontown Resources$7k
332nd↓Gindalbie Metals$7k
333rd↑Mount Ridley Mines$7k
334th↑Kin Mining$7k
507 listed resources companies ranked by revenue.
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Remuneration from Gindalbie Metals

385thRebecca Moylan$304k
575thKeith Jones$207k
750thChris Stevens$141k
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