IronClad has determined potential project savings by
amending a previously agreed transportation plan to a
bulk storage facility instead, requiring far fewer containers
for efficient transshipment loading, whilst still retaining
environmental safeguards. Approval for this amendment is
being sought.
IronClad also anticipates improved efficiencies in its
transshipment process, by altering the number and type
of tugs and barges used, and reducing the distance of the
transshipment point in concert with Sea Transport Corporation,
the port owner.
Wilcherry Hill is located north of the Kimba township –
gateway to the popular Gawler Ranges, but a district whose
population has been gradually declining. Despite this,
IronClad remains firmly committed to working with the local
community wherever it can, and places much emphasis on
taking the community along with it as the project progresses.
The Shire communities of Kimba and Franklin Harbour appear
very supportive of IronClad’s plans.
With $65 million raised through equity since inception,
IronClad is negotiating debt financing rather than approaching
shareholders to cover the estimated $15 million needed for
working capital and remaining stage one capital works (mainly
at the port). IronClad’s board is very mindful of shareholder
wealth, and has experienced gratifying loyalty from its top
20
or so shareholders, who have largely been with the company
since the beginning.
Making Wilcherry Hill a seriously profitable operation when
production occurs remains the company’s principle priority.
Below: Ore from excavation
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Above: Drilling at Wilcherry Hill
IronClad has the full range
of infrastructure covered
with its port structure
in place, and a road
directly connected to the
Lucky Bay port some
154
kilometres away.