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    MGT   AU000000MGT5

MAGNETITE MINES LIMITED

(MGT)
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Magnetite Mines Limited Announces Appointment of Ghd to Razorback Definitive Feasibility Study

09/22/2021 | 07:40pm EDT

Magnetite Mines Limited (Magnetite Mines or the Company) announced that it has appointed leading global engineering and professional services company GHD to deliver the critical Power Supply and Non Process Infrastructure elements of the Definitive Feasibility Study (DFS) for the Razorback Iron Ore Project (Razorback). GHD's appointment follows the preparatory work for the DFS that commenced immediately after the positive Razorback Preliminary Feasibility Study results were released in July 2021. It reflects Magnetite Mines' continued strategy of appointing high calibre, well recognised companies to partner with as Razorback is developed. GHD's scope of work will include further investigation of: Off Site Infrastructure: Power Supply Haul road and rail siding Mine Site Non Process Infrastructure comprising: Administration buildings, mine accommodation camp, workshop, hardstands, maintenance facilities; Site services including provision of water, sewer, communications, power etc.; and Internal road network, car park and haul roads GHD is also contributing to the following study wide elements:· Project execution strategy· Risk Management· Capital Cost. Of these, the Power Supply to site is the most time critical and a significant start has been made. Building on the PFS where a 132KVA transmission line connecting at Robertstown is the preferred option. A LIDAR aerial survey will commence over the proposed route in October informing design and location of the Transmission Line as a precursor to commencing the necessary clearances and obtaining approval. Appointments of other key consultants and contractors to the DFS are in progress.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -1,73 M -1,28 M -1,28 M
Net cash 2021 14,6 M 10,8 M 10,8 M
P/E ratio 2021 -125x
Yield 2021 -
Capitalization 81,8 M 60,6 M 60,6 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 82,9%
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Managers and Directors
Peter Schubert Executive Chairman & Chief Executive Officer
Frank DeMarte Chief Financial Officer & Secretary
Mark Richard Eames Technical Director
Malcolm Roger Joseph Randall Independent Non-Executive Director
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