Initial US$4.5 Million Received In Sales Prepayments
Strike Resources Limited (ASX:SRK) has confirmed that the vessel MV Federal Nakagawa has docked at the Port of Pisco in Peru and is currently loading approximately 35,000 tonnes of Apurimac Premium Lump direct shipping iron ore (DSO) sourced from Strike’s Apurimac Project in Peru.
Once loading is complete this week, the MV Federal Nakagawa will then set sail for China, where under the terms of Strike’s Offtake Agreement with Good Importing International (Good Importing) Pty Limited, it will deliver its load of Apurimac Premium Lump DSO to China with an expected voyage time of approximately 32 days.
Strike has received a further US$2.5 Million from Good Importing as part prepayment for this first shipment, in addition to US$2 Million previously received by Strike. Strike has therefore received US$4.5 Million in prepayments for this first shipment so far, with the balance of sale proceeds to be received prior to ship arrival in China.
Managing Director, William Johnson, said the loading of the first shipment of iron ore from the Port of Pisco is a major milestone in the development of Strike’s 100% owned high grade Apurimac Iron Ore Project in Peru.
“Strike continues to focus on building its local infrastructure in Peru to support an increased annualised production rate in the near term.”
Apurimac Iron Ore Project – JORC Mineral Resource
The Apurimac Project (Strike – 100%) has a JORC Code (2012 Edition) compliant Mineral Resource of 269.4 Mt, consisting of:
- a 142.2 Mt Indicated Mineral Resource at 57.8% Fe; and
- a 127.2 Mt Inferred Mineral Resource at 56.7% Fe.
In addition to the current JORC Mineral Resource, there is significant exploration potential given the deposits are open at depth and along strike (with very promising drill results including 154m @ 62% Fe) with extensive undrilled gravity and magnetic anomalies.
For further information please visit: https://www.strikeresources.com.au
