Northern Iron is the brainchild of well known entrepreneur Mr Jim Hickey. It is a magnetite project, rather than hematite. Magnetite projects have been somewhat unpopular of late, due to high costs. The reason is that the majority of magnetite iron ore projects are based upon banded iron formation (“BIF”). While this material can be quite high in iron, it is fine grained and often expensive and difficult to process.

Northern Iron’s magnetite is completely different. While it was originally a BIF, it has subsequently been deeply buried (+10km below surface) and subjected to high pressure and temperature. It is now very coarsely crystalline. This magnetite is much easier and cheaper to process and can produce a much higher grade concentrate than BIF competitors.

The magnetite occurs within a greenstone belt that is also prospective for gold and other metals (more on this to come).

The company recently ran a technical workshop, to which the author  was invited. I must say, it was one of the most impressive workshops I have attended.

I met some of the most experienced, and highly regarded, geologists and metallurgists in the magnetite space. All believed that the project was inherently viable, although much further testwork is required.

Below is the crew: two geologists (obscured), two metallurgists and to the left rear, field personnel. Ian Gebbie, in left foreground, is from Wentworth Global Capital Partners, who are strong supporters of Northam Iron.

NI_crew

Below, Richard Harmsworth and Schulk van der Merwe, the most experienced geologists in coarse magnetite in the world. They were integral to the successful development of a comparable coarse magnetite project in Mauritania.

NI_richard_schulk

Below, two of Australia’s most respected metallurgists, Brian Povey and Richard Peck, with Jim Hickey to the right. Both metallurgists are of the view, subject to testwork, that the Northam Iron magnetite will be amenable to producing a saleable, high grade magnetite concentrate.

NI_brian_rchard_jim

Finally, more geologists; the others you have met, but in the centre is Kevin Schultz, one of Australia’s finest geologists. Along with Jim and Louise Hampel, Kevin is a foundation shareholder of Northern Iron.

NI_kevin_geos

This company represents a very interesting entry into the high grade iron ore space.

Northern Iron is not yet listed but interested potential investors can contact Wentworth Global Capital Partners.

Meanwhile, I shall provide further details in subsequent posts.

 

 

 

 

04 April 2018 Companies