Pelican Resources Ltd reported on the quarter ended December 2009. At Cockatoo Island iron operations,Western Australia, although there was no production during the quarter, development of the Stage 3 seawall continued with mining scheduled to recommence approximately mid-2010. The review of the aeromagnetic data, the VTEM data, the soil geochemistry and the rock chip sampling at the Donald Well tenements, Western Australia indicate that the magnetic anomalies are coincident with the iron formation and the VTEM anomalies are coincident with and slightly to the east or down dip from the iron formation.
Reported the decrease in production compared to 2007 was primiarily due to inventory stockpile reductions. In addition, production at Cockatoo declined as the second stage of the seawall reserves were exhausted. Construction on Phase 3 of the seawall is expected to be completed in May 2009, with sales continuing for approximately two years through June 2011.
October 30, 2008
Reported that approval was granted for Stage 3 mining of the existing deposit and construction of the seawall extension commenced during August. Seawall construction is expected to take approximately one year.
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