The iron ore explorer controlled by the Todd family empire in New Zealand now has a lever to proceed towards development.
Late last year Flinders Mines Ltd (ASX: FMS) came under the control of Todd Corporation. It moved headquarters from Adelaide to Perth after Todd gained a control block and began lifting investing in advanced exploration on the Pilbara Iron Ore Project (PIOP).
Flinders announced an updated mineral resource estimate for the key Blacksmith and Anvil tenements in the PIOP project.
The total resources for these two projects are 1.484 million tonnes grading 54% Fe and 4.96% aluminium oxide.
Interim executive director David McAdam said the resource estimation phase for PIOP was now complete and there would now be planning and process engineering activities aimed at determining technical and product tonnages.
Flinders said this maturation work confirms earlier studies that detrital ore has potential to be upgraded into economic saleable product.
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