Spitfire Resources (SPI)

Shares / Stock Code

SPI

Stock Exchange / Sharemarket

Australian Securities Exchange

Spitfire Resources (SPI) Australian Securities Exchange Ticker: SPI is an Australian minerals company focused on the exploration and development of raw materials for the carbon steel and energy sectors. The Company’s flagship asset is South Woodie Woodie, located 230km north-east of Newman in the East Pilbara – a region renowned globally as a major source of iron ore and manganese to the Asian steel industry.

Spitfire’s tenements are located approximately 50km to the south of the world-class Woodie Woodie Manganese Mine, operated by Consolidated Minerals Limited (part of the Palmary Enterprises group), which has a total historic and mined endowment of approximately 28 million tonnes of high-grade manganese. The company was listed on Australian Stock Exchange (ASX) on 12 December, 2007.

Spitfire Resources' core objective is to delineate strategic high-grade (+40% Mn) manganese resources which would position Spitfire to capitalise on strong levels of demand for high-grade manganese globally.Spitfire is also reviewing options to progress the Tally-Ho Manganese Deposit, where it has defined a JORC compliant resource of 2.94Mt @ 7.07% Mn with results from preliminary metallurgical test work indicating the material can be beneficiated to achieve a Mn product grading around 40%.

Importantly, the Tally-Ho deposit remains open in a number of directions, particularly to the north and north-east and Spitfire believes there is potential to further increase the resource tonnage by undertaking further drilling in these areas.

Spitfire has a strategic relationship with the French-based specialty metals and mining group, Eramet, which holds 7.52% of the Company’s issued capital. As part of the Company’s $1.82m capital raising completed in April 2010 and in combination with on-market transactions, two additional strategic shareholders have acquired significant holdings in the Company – SK Resources and Prosperity Steel United. Spitfire is a publicly listed company on the Australian stock market.

Spitfire Resources (SPI) Products and Services

  • Minerals company focused on the exploration and development of raw materials for the carbon steel and energy sectors.

Spitfire Resources (SPI) Locations and Subsidiaries

Spitfire Resources Head Office
Suite 1, 346 Barker Road, SUBIACO,
WA, AUSTRALIA, 6008
Phone: 0863823700
Fax: 0863823777

Spitfire Resources (SPI) Share Price

Submitted by ASX Listed Company on 31 May, 2010 - 19:50

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