Magnetite Mines Limited. (ASX:MGT)
Magnetite Mines Limited is a mineral exploration development company that owns and operates the South Australian Razorback Iron project and Ironback Hill project. The Razorback Iron project is a magnetite iron ore deposit capable of producing a high-grade iron ore concentrate product for use in steel production. The project consists of two magnetite iron ore deposits, the Razorback and the Ironback Hill deposits hosted in the Braemar Iron formation. Razorback Iron project is located 240 northeast of Adelaide, South Australia, near the regional town of Yunta in an arid, low-intensity pastoral country. The Ironback Hill prospect occurs on EL6126 and is approximately 12 kilometers south-southwest of Razorback Ridge.