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Ferrex is an AIM listed resource pre-production and development company with assets in Australia and Africa. The Company is focused on bringing low capex deposits, which benefit from proximal established infrastructure, into production to facilitate the development of larger opportunities with minimal dilution.

Ferrex has a five year tribute agreement with a subsidiary of Norton Gold Fields to mine certain defined gold deposits in Australia, for treatment at Norton's nearby Paddington processing plant. This will generate revenue in H1 2016 with no capital outlay requirements. The Company is also developing the Nayega Manganese Project into a low cost export mining operation with a view of production within nine months of receipt of the Mining Permit.

Production from both will facilitate the development of larger, higher value opportunities into production with minimal dilution. The Company is currently evaluating projects with this in mind, while examining opportunities to realise value or monetise its non-core iron ore portfolio through joint ventures or trade sales.

Current share price: 0.40 GBX

Date: 29.11.15
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