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2 stories mentioning ASX:BCKUpdated 24d ago

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Asia

Brockman Mining Unit Takes Full Ownership of Western Australia Project as Mineral Resources Subsidiary Exits

Brockman Mining (ASX:BCK, HKG:0159) unit Brockman East has secured 100% ownership of the Ophthalmia Project after agreeing with Mineral Resources' (ASX:MIN) subsidiary, Polaris Metals, to terminate Polaris' interest in the project effective July 1, according to an Australian bourse filing on Thursday after market hours.The associated AU$1.1 million Ophthalmia Project loan was also terminated, releasing Brockman East from its repayment obligations, per the filing.The Marillana Iron Ore Project joint venture remains unchanged, with both parties committed to advancing the project under the existing farm-in and joint venture agreement and the Marillana Project loan, the filing added.

ASX:BCKASX:MINHKG:0159
Asia

Brockman Mining Advances Marillana Iron Ore Project Studies

Brockman Mining (ASX:BCK) said its unit, Brockman Iron, continued progressing the Marillana Iron Ore Project during the June quarter through technical, environmental and infrastructure work, while no mining production or development activities took place during the period, according to an Australian bourse filing on Thursday after market hours.The company said technical studies showed that a modified processing flowsheet could increase iron ore recovery to more than 45% while maintaining an iron content above nearly 62%, while environmental planning and consultations with traditional owners were also progressing, per the filing.It noted that Brockman Iron's equally owned joint venture over the Marillana Project with Polaris Metals, a wholly owned subsidiary of Mineral Resources (ASX:MIN), has been in place since Polaris completed its farm-in obligations in April 2021.The joint venture is advancing logistics and export infrastructure, including the proposed Stanley Point Berth 3 facility at Port Hedland, which has secured a port capacity allocation and is awaiting approvals and a final investment decision.Operations at the Ophthalmia Iron Ore Project remained reduced during the quarter pending an infrastructure solution, while a heritage survey was completed at Duck Creek East.The company reported a consolidated cash position of HK$3.9 million as of June 30.

ASX:BCKASX:MIN

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