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GWR Group (ASX:GWR) secures access to Port of Geraldton
Geraldton Port. Source: CruiseMapper
  • GWR Group (GWR) has secured access to the Port of Geraldton to export its iron ore from its Wiluna West Iron Ore Project in WA
  • The company signed the agreement with the Mid West Ports Authority (MWPA), which operates the Geraldton port
  • GWR will begin using the port on the first day of December and is expecting its first shipment in January 2021
  • On the market this morning, GWR is up 6.06 per cent and trading at 17.5 cents per share

GWR Group (GWR) has achieved a key project milestone as it secures access to the Port of Geraldton to export its iron ore.

The company has signed a binding port access and service agreement with Mid West Ports Authority (MWPA), which is the operator of the Port of Geraldton in WA.

The port access agreement allows GWR to export iron ore, produced at its high-grade C4 iron deposit, from site 88. The site includes a truck unloading facility, a storage shed with around 100,000 tonnes of capacity, and associated conveyor networks.

MWPA is a highly experienced operator and manager of the port and handled 14.95 million tonnes of ore in 2019 and 2020.

"On behalf of MWPA, I congratulate the entire GWR Group team on executing this port access and services agreement with MWPA, enabling the company to take another significant step forward toward production of their C4 iron ore deposit," MWPA CEO Dr Rochelle Macdonald said.

GWR will begin using the port on the first day of December and is expecting its first shipment in January 2021.

The approval comes after the company received results from its reverse circulation (RC) drilling program at C4 and began drill blasting in the area. Pleasingly, results peaked at 65.1 per cent iron ore, with high-grade, low-impurity mineralisation intersected. The C4 deposit forms part of the Wiluna West Iron Ore Project and spans 1.4 kilometres in length.

Chairman Gary Lyons says today's milestone comes after many years of hard work and sacrifice.

"Whilst the agreement is an integral part of the process to drive GWR to become the next ASX-listed iron ore producer, development operations continue, with drill blasting holes within the Stage One-C4 Iron pit having commenced this week and mining and production operations due to commence in the first week of December 2020," he told the market.

On the market this morning, GWR is up 6.06 per cent and trading at 17.5 cents per share at 11:31 am AEDT


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