Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
RSC Mining and Mineral Exploration Services compiles the best drill intersections around the world and then ranks them based on gold equivalent grams per tonne using ruling metal and mineral prices.
Year-to-date, Osisko Mining’s Windfall gold project in Quebec’s Abitibi belt is the runaway winner, with Global Atomic Corp’s uranium project in Niger coming in second.
There are caveats. The Windfall grades are spectacular, but over just two metres. Number 7 on the list, GGX Gold’s project in southern BC called Gold Drop returned top class grades over 7.3 metres.
That helps to explain the difference in investor reaction – GGX shares opened 57% higher on the TSX Venture Exchange the day after the announcement while the effect on Osisko Mining’s stock was a 4.9% drop in value (other market factors also play a role, of course).
RSC also points out that in polymetallic deposits like the ASX-listed winner Adriatic Metals’ Rupice exploration project in Bosnia not all the elements would necessarily be recovered and sold.
No wonder RSC cautions the companies mentioned not to use these tables in company presentations, websites or social media.
Nevertheless, the rankings, which are updated each week, make for some interesting comparisons.
Canadian companies are responsible for eight of the ten most significant drill intersections so far this year. Fair dinkum.
Nothing like a bit of friendly rivalry.
Year to date significant drill results from RSC weekly bulletin 28 January – 3 February 2019.
Year to date significant drill results from RSC weekly bulletin 28 January – 3 February 2019.
Click here for more and do read RSC’s disclaimers and methodology.
