The fate of Brockman Resources’ Marillana iron ore development in the Pilbara is up in the air, after major shareholder Wah Nam International commissioned a review of the Perth-based junior’s operations.
Brockman announced it had pushed back a feasibility study due for Marillana until a revised timetable had been prepared for the project at the completion of the strategic review
A bankable feasibility study for Marillana was originally due to be completed in September or October.
The company said the review covered not only the Marillana project, but the entirety of Brockman’s operations.
Brockman replaced most of its board of directors in September, after Wah Nam took a 53.3 per cent stake in the company.
Brockman’s Marillana project has the potential to produce 426 million tonnes of direct shipping hematite iron ore.
It is currently actively pursuing rail and port infrastructure arrangements for the project.
At close of trade today Brockman stocks had lost 1.45 per cent, to trade at $1.69.