CuFe Ltd (ASX: CUF) – Trading Halt

Overview

CuFe Limited (ASX:CUF) is a multi-commodity exploration and development company with interest in eight projects situated throughout mature mining jurisdictions in Western Australia and the Northern Territory. The company’s value proposition is predicated on its high-grade premium product iron ore projects as well as its exposure to copper, lithium and niobium. Its exploration portfolio includes mature copper targets at Tennant Creek, drill-ready lithium targets at North Dam, and greenfield exploration ground in close proximity to WA1’s recent niobium discovery.

Tennant Creek hosts a mineral resource estimate of 7.3 million tons (Mt) at 1.7 percent copper and 0.6 grams per ton (g/t) gold for 127 kt copper and 145 koz gold. CuFe currently owns a 55 percent interest over 240 kilometres of the highly-prospective tenure, situated in the Northern Territory. CuFe’s near-term plan for the mine, based on detailed mine planning, involves a staged cutback of the Orlando open pit to gain access to an ore supply for fast start options.

The JWD iron ore operation is an ultra-flexible high-grade, low-impurity iron ore operation optimised for efficiency, the mine benefits from a low capex, with the capacity to export 60 kt of lump and 15 kt of fines per month at current production rate. CuFe owns 100 percent interest in this operation.

In addition to taking advantage of the growing market for strategic metals, CuFe also has exposure to a near-term iron ore price upside thanks to the high-grade JWD iron ore mine. It plans to leverage the mine to take advantage of elevated iron ore price cycles with the ability to cost-effectively suspend production as the market dictates. CuFe is also evaluating the Yarram project, as its close proximity to Darwin port gives it the potential for low opex.

Lastly, CuFe has a low-risk 2 percent NSR gold royalty over the Northern Star Crossroads project, where mining is expected to commence in 2024.

CuFe is led by a highly experienced management team adept at identifying opportunities, making discoveries, evaluating and developing projects and maintaining operations. The team is led by executive director Mark Hancock, who has 25 years experience in resource projects across a variety of commodities in senior finance, commercial and marketing roles.

Company Highlights

• CuFe Limited is an ASX-listed iron, copper, lithium and niobium exploration and development company with a multi-commodity portfolio of assets.
• The company’s assets are situated in mature mining regions in Western Australia and the Northern Territory, with access to extensive pre-existing infrastructure.
• CuFe’s projects are highly prospective in copper (Tennant Creek, Bryah Basin), lithium (North Dam, Tambourah) and niobium (West Arunta).
• CuFe has 100 percent interest in the iron ore mining rights at the operating Wiluna West JWD mine, known to contain high-grade iron ore product.
• Additionally, the company has a 50 percent interest in the Yarram project,…