- Freehill Mining (FHS) begins mining and ore processing at its Yerbas Buenas magnetite project in Chile
- The mining, crushing and processing equipment is on-site and operational with roughly 150,000 metric tonnes of stockpiled mined material ready for processing
- Additionally, Freehill’s magmatic plant has reached 100 per cent capacity and is operating at a processing capacity of 300+ tonnes per hour
- Freehill’s focus in now on stockpiling the ore and discussions are already underway with several offtake partners
- Freehill ends the day in the grey with shares trading at 2.4 cents
Freehill Mining (FHS) has begun mining and ore processing at its Yerbas Buenas magnetite project in Chile.
The Yerbas Buenas project is located in Region IV on the coast of Chile, about 500 kilometres north of the capital Santiago.
Freehill claims it has proven magnetic mineralisation and is prospective for both gold and copper mineralisation.
The mining, crushing and processing equipment is on-site and operational with roughly 150,000 metric tonnes of stockpiled mined material ready for processing.
Additionally, Freehill’s magmatic plant has reached 100 per cent capacity and is operating at a processing capacity of 300+ tonnes per hour.
Freehill’s focus is now on stockpiling the processed ore while offtake sales contracts are assessed.
Discussions with several off-take partners are already underway with demand from a number of further identified potential domestic and international customers.
“We are now well into the production phase at Yerbas Buenas which will deliver
multiple revenue streams from the iron ore and aggregate we are producing,” CEO Paul Davies commented.
“The current operation provides a strong foundation which underpins the growth and development of Freehill. We look forward to updating shareholders as processing activities continue and sales materialise.”
Freehill has ended the day in the grey with shares trading at 2.4 cents in a $42.21 million market cap.