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- Strike Resources (SRK) schedules the departure of its maiden shipment of Paulsens East lump iron ore for this month
- Strike has around 60,000 tonnes of Paulsens East lump direct shipping ore stockpiled at Port Hedland, with a departure date for a Hong Kong buyer scheduled for August 28
- A further 6000 tonnes is also set to be hauled to Utah Point prior to loading onto MV Cepheus Ocean, scheduled for shipment on the same date
- Strike says while the shipment of iron ore will be a significant milestone for the company, it has made the decision to pause further freights from Utah Point given current market conditions and will wind down operations over the coming week
- Strike Resources last traded at 13.5 cents on August 24
Strike Resources (SRK) has scheduled the departure of its maiden shipment of Paulsens East lump iron ore for this month.
Strike currently has around 60,000 tonnes of Paulsens East lump direct shipping ore (DSO) stockpiled at the Utah Point multi-user bulk handling facility at Port Hedland, scheduled for departure on August 28.
A further 6000 tonnes are also set to be hauled to Utah Point prior to loading onto MV Cepheus Ocean, scheduled for shipment on the same date.
The maiden shipment has been sold to a Hong Kong-based buyer, with the terms of the sale agreement reflecting market pricing.
Strike said while the shipment of iron ore from Paulsens East would be a significant milestone for the company, it had made the decision to pause further shipments from Utah Point given current market conditions. This includes the low benchmark iron ore price relative to prices earlier in the year, together with rising input costs.
The company will wind down operations at the mine over the coming week and suspend further production until market conditions improve.
Meanwhile, Strike said work on Stage Two development at the Port of Ashburton, Onslow, was continuing as a more economical export solution. The company is in advanced negotiations with key contractors for transhipment operations from the Port of Ashburton.
Strike Resources last traded at 13.5 cents on August 24.
