Equatorial Resources Limited
ASX Code
EQX
Sector
Materials
Investor Centre
https://www.equatorialresources.com.au/asx-announcements
Website
https://www.equatorialresources.com.au/
About
Equatorial Resources Limited (“Equatorial”) 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. The Mayoko-Moussondji Iron Project has the exceptional advantages of having the potential to produce premium iron products and access to existing transport infrastructure. These advantages create the opportunity for production to commence at a fraction of the capital cost of almost all other African based iron ore developers and producers. The Project currently hosts a Hematite Resource of 102 million tonnes at 40.6% Fe as part of a total JORC mineral resource estimate (hematite and magnetite) of 767 million tonnes at 31.9% Fe. Metallurgical test work demonstrates the potential for the Hematite Resource to deliver premium lump and fines iron products grading above 63% Fe with low impurities using simple beneficiation techniques and with high overall mass recoveries. The project has direct access to an operational rail line running directly to the deep-water port of Pointe-Noire, where the Company’s administrative office is located. Equatorial is investigating the potential for early production using the existing rail and port infrastructure that service the project and plans a staged ramp up of operations, recognising the ability for incremental investment to increase capacity over time.