Centrex Metals (CXM)

Shares / Stock Code

CXM

Stock Exchange / Sharemarket

Australian Securities Exchange

Centrex Metals Ltd (CXM) specialises in the exploration for iron ore within 200 sq kilometres of the Eyre Peninsula in South Australia. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted. The Company has tenement holdings over iron ore resources and exploration targets on Eyre Peninsula in the southern Gawler Craton adjacent to rail/port facilities.

Centrex Metals History

Centrex Metals Ltd (‘CXM’) was incorporated on 23 March 2001 to explore for iron ore on Eyre Peninsula. In June 2001, CXM acquired the Greenpatch, Bungalow and Cockabidnie tenements. In early 2002 Portman Limited, through its wholly owned subsidiary South Australian Iron Ore Group Pty Ltd (SAIOG), applied for iron ore tenements on Eyre Peninsula. In April 2002 SAIOG and CXM entered into a joint venture in which SAIOG was to conduct exploration of the magnetite resources on CXM and SAIOG tenements to evaluate the potential to establish a stand alone magnetite operation. SAIOG spent over $2.0 million in exploration but subsequently withdrew from the joint venture. Portman Limited determined that the indicative economics for a magnetite concentrate operation based on known magnetite deposits and the prevailing iron ore prices, did not meet corporate targets.

As a consequence of SAIOG withdrawing from the joint venture, SAIOG was acquired by CXM and is now a wholly-owned subsidiary of CXM. The Company and its subsidiary are the registered holder of, and are entitled to exploit iron ore on a number of exploration licences covering an area of over 2,000km2 over known iron ore deposits and prospects on Eyre Peninsula, South Australia.

Centrex Metals Projects

Centrex Metals Ltd has extensive tenement holdings over iron ore resources and exploration targets on Eyre Peninsula in the southern Gawler Craton adjacent to existing rail/port facilities. The resources and targets are mainly within the early Proterozoic Middleback Subgroup sequence of banded iron formations (BIF) that host the historically important and currently operating iron ore mines of the Middleback Range (Onesteel Ltd). The extensive iron formations of Eyre Peninsula contain significant inferred resources of hematite and/or magnetite banded iron formation. Both historical and recent assays and metallurgical work have confirmed their potential and furthermore, the compositions of magnetic separations are favourable with high iron and low silica, alumina, phosphorous, alkalis and manganese.

Centrex Metals (CXM) Products and Services

  • Mineral exploration

Centrex Metals (CXM) Locations and Subsidiaries

Centrex Metals Head Office
100 Pirie Street, Level 3,
ADELAIDE, SA 5000
Phone: (08) 8232 0400
Fax: (02) 8232 0500

Centrex Metals (CXM) Share Price

Submitted by ASX Listed Company on 7 March, 2010 - 00:10