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  • Apollo Minerals In Halt Pending Announcement Of Farm-In 0 comments
    Feb 7, 2013 7:11 PM

    Apollo Minerals (ASX:AON) is in trading halt pending an announcement of a farm in joint venture with another ASX listed company.

    The halt will be in place until 12 February, 2013.

    Last quarter, Apollo completed the scoping study for the Sequoia iron ore deposit at the Commonwealth Hill project in South Australia.

    The study showed potential to support a 17 year mine life at 2.5 million tonnes per annum sales.

    The study also showed that the extraction and onsite processing of iron ore from the Sequoia mineral resource is likely to be successful, and the project warrants progression to pre-feasibility study stage.

    Apollo estimated the direct start up capital expenditure at US$333 million.

    Last quarter, Apollo also published exploration target at the Kango North project to range between 200-300 million tonnes at 30-45% Fe.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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