June 2013 Quarterly Report
Perth, July 31, 2013 AEST (ABN Newswire) - Equatorial Resources Limited (
ASX:EQX) ("Equatorial" or the "Company") is pleased to present its quarterly report for the period ended 30 June 2013 with the following highlights.
Mayoko-Moussondji Iron Project
- Scoping Study completed for Mayoko-Moussondji with excellent results.
- Drilling Program completed with resource upgrade expected by calendar year end.
- Metallurgical test work and process flowsheet design completed with results defining target product: "Mayoko Premium Fines".
- Environmental and Social Impact Assessment ("ESIA") completed.
- Two additional Exploration Licences secured adjacent to Mayoko-Moussondji.
- Application for Mining Licence and associated infrastructure agreements now being prepared.
Badondo Iron Project
- WorleyParsons engaged to review development scenarios for Badondo and the Cameroon, Congo, Gabon iron province.
- Work continues on remodelling the Exploration Target for Badondo and the design and implementation of a resource definition drilling campaign.
Corporate
- Restructured management and operation teams designed to focus on value creation, increased efficiency and cost savings.
- The Company is investigating strategic partnership and other funding opportunities to fast track progress of the Mayoko-Moussondji Iron Project into production.
- Equatorial remains in a strong financial position with significant cash reserves and no debt. As at 30 June 2013 the Company held $51.9 million in cash.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-EQX-643684.pdf
Contact
Equatorial Resources Limited
T: +61-8-9322-6322
F: +61-8-9322-6558
WWW: www.equatorialresources.com.au
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