Brokers see much potential in brazilian iron ore play – China Electro Muscle Stimulation Machine

It is reported that things are hurrying along at Brazilian iron oreplay Centaurus Metals, with a rush of recent news pointing toaccelerated progress on the company’s bid to replicate majorshareholder Atlas Iron’s success in Australia. In recent months, Centaurus has not only ticked a number of boxeson development at its flagship Jambreiro deposit but releasedstrong maiden drilling results from its Serro da Lontra project,the lynchpin of its export strategy. The stream of news flow has added juice to Centaurus shares, aidinga recovery which has sent them one third higher to 64 cents overthe past five weeks. Covering brokers, however, think the stock hasa lot more in it. Face Lifting Machines

Hartleys, which has the stock as a speculative buy, has a 12 monthprice target of USD 1.89 on Centaurus, while Ord Minnett ranks it ahigh risk buy with a USD 2.20 target, describing it as anoutstanding iron ore development story. The most significant recent milestone for Jambreiro was Centaurus’slodgment of the primary environmental approval documents withregional authorities. The company, whose bankable feasibility studyis due for completion in September, is hoping to secure a licencein October 2011 in line with a timetable which would have Jambreiroproducing by the end of 2013. A resource update at the end of May 2012, which is expected toshunt a significant portion of Jambreiro’s 114 million tonnes intothe measured category, will provide further clarity. The resourceis low grade at 36.8% but Centaurus believes it can be beneficiatedto a high grade hematite product of between 63% and 67%. China Electro Muscle Stimulation Machine

It has supported by initial pilot plant testing of a 2.5 tonnesample during the March 2012 quarter which turned out a lowimpurity product grading 65.6%. Testing of a 50 tonne sample will get underway next week, pavingthe way provided there are no hitches to Centaurus to enternegotiations on offtake agreements with Brazilian mills. At Serro da Lontra, to the north east, the company is chasing up to50 million tonnes and is aiming for a JORC resource by July 2012. Source – WA News. Oxygen Therapy Machine


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