- GWR Group (GWR) is on track to beat haulage records from its flagship C4 Iron Ore deposit, forecasting 120,000 tonnes of iron ore deliveries for the month
- The company set a new daily record of 4805 tonnes of ore in July and is hoping to increase this to a consistent 5000 tonnes of ore in the coming months
- Further offtake arrangements with fellow ASX-lister Macarthur Minerals are said to be in the works
- An extra 12 trucks are set to be brought in to accommodate the increased production figures
- GWR Group shares closed the day up 5.41 per cent to trade at 39 cents
GWR Group (GWR) is on track to beat haulage records from its flagship C4 Iron Ore deposit, forecasting 120,000 tonnes of iron ore deliveries for the month.
Previous haulage records were set at 4000 tonnes per day of ore, which the company has managed to beat this month after recording a recent daily record of 4805 tonnes of ore.
The company is aiming to export 1,000,000 tonnes by the end of the year and expects to ship at least twice per month, equating to roughly 110,000 tonnes.
The ASX-lister has recruited an extra 12 trucks to accommodate for the increased production which it anticipates will reach a consistent 5000 tonnes per day within the next few months.
Further offtake agreements are said to be progressing, with GWR looking to formalise its conditional sale with fellow ASX-lister Macarthur Minerals (MIO) of up to 400,000 tonnes per annum from its flagship.
GWR also secured its first ship for August which is due to commence loading at the Port of Geraldton between August 11-16, 2021.
GWR Chairman Gary Lyons said he was pleased to advise of the new production record.
“GWR will continue to focus on ramping up its haulage rates and expects to add a
further 12 trucks to its fleet working the C4 deposit with the aim of targeting haulage of consistently 5000 tonnes per day to the Port of Geraldton in the coming months,” he said.
GWR Group shares closed the day up 5.41 per cent to trade at 39 cents.