29th Jan 2016 10:45
LONDON (Alliance News) - Iron ore miner Ferrum Crescent Ltd on Friday said it will be focusing on the Moonlight iron ore project in South Africa in the quarter to the end of March.
Ferrum earlier this month said it has decided to push back the completion of the bankable feasibility study for the Moonlight project by three months, meaning the deadline for the study is now early 2017. It does still expect the work on the study to start in the current quarter.
The company said talks are ongoing with potential domestic off-take partners for the project, though they remain at an early stage.
"We continue to align the project with the infrastructure plans of the South African and Limpopo governments and seek to address the aspirations and interests of such authorities and those of the local communities and municipalities. Our aim continues to be the maximisation of the value of Moonlight for the benefit of all stakeholders," said Tom Revy, Ferrum's managing director.
Shares in Ferrum were untraded on Friday, having last traded at 0.167 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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