Tsodilo Resources (TSD.V) has released the results from ongoing metallurgical test work at its Xaudum iron ore project in Botswana, Africa. The main takeaway is the fact that all mineralized zones within the Xaudum project are amenable to be processed to end up with an end product containing an iron content higher than 68%. This is an extremely important result, as the price for 68% Fe-containing iron ore is substantially higher than the benchmark price which is based on an iron content of ‘just’ 62%.
The company plans to release a new resource estimate in the second quarter of this year. Tsodilo had a working capital position of $1M as of at the end of the third quarter, so we are expecting a private placement sometime in the first half of this year.
> Click here to read the press release
Disclosure: The author holds no position in Tsodilo Resources. Please see our disclaimer for current positions.
