164th Sydney Mining Club Presents John Welborn, Managing Director and CEO of Equatorial Resource (ASX:EQX) on 1st March
27.02.2012 | ABN Newswire
09:34 AEST Feb 27, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Equatorial Resources Limited (ASX:EQX) is an ASX listed iron ore exploration and development company with two 100% owned large-scale iron ore projects in the politically stable and investment friendly Republic of Congo ('ROC').
Equatorial's Mayoko-Moussondji Iron Project and Badondo Iron Project are both highly prospective with significant scale potential.
IRON AWE
Equatorial is exploring two 100% owned large-scale iron ore projects in the politically stable and investment friendly Republic of Congo.
Central and West Africa host undeveloped world-class high-grade iron ore deposits and recent investments in the region by majors including BHP, Rio Tinto, Vale, Tata and Xstrata indicate its growing significance as the next major iron ore province.
Equatorial's two projects have a combined whacking exploration target of 3.6bn-6.1bn tonnes of iron ore grading 30-65% iron.
The bigger of the two projects, Mayoko-Moussondji, lies just 500 metres from an operating but under-used bulk haulage railway that runs directly to a deep water port at Pointe-Norie. An initial resource is expected this year.
The smaller project, Badondo, is in a regional cluster of world-class iron ore exploration projects and geological mapping has identified extensive haematite mineralisation up to 50m thick. Drilling is expected in the first quarter of this year.
Equatorial has been awarded two new iron ore exploration permits that confirm its position as the dominant landholder in the region.
The company's metallurgical consultant for all its iron ore projects is Professor John Clout, who was Fortescue's head of resource strategy from 2004 to 2010.
Equatorial, with market cap of $270 million, is well funded with more than $70 million in cash and securities. It also has a 19.8% stake in African Iron Ore, which received an all-cash off-market bid from Exxaro in January.
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The first Sydney Mining Club forum was held in March 1997.
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