Tombador Iron Limited announced the results from a Preliminary Feasibility Study (PFS) on its 100% owned Tombador Project (Project). The PFS confirms the potential for the Project to produce a high-grade product and generate strong returns over its life of mine. The PFS shows a maiden Ore Reserve of 5.59Mt at 65.5% Fe which underpins 100% of the forecasted annual production of 1.2 million tonnes for 5 years.

The PFS was based on a production target of 1.2Mtpa and the last 5-year average iron ore index price The project is forecast to generate healthy cashflows on this basis.