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OPERATIONAL REVIEW
DIGGeRs & DeALeRs PReVIeW MACA.NET.AU

chasing a “COVID zero approach” – with cities like Shanghai ex-
periencing months of lockdowns at a time. Such lockdowns more
recently prompted food shortages and protests.
New reports of China’s Government moving to install a central
buyer to impose more control on iron ore prices also appeared in
June. However, this is not the first time such reports have been
made and thus, Australia’s major exporters remain sceptical.
At the junior end of town, new entrants to the ASX looking to
become small producers have to face the uncertainty wrapped in
the iron ore market.
Juno Minerals Ltd, which listed in May of last year, received
final statutory approvals for its Mount Mason hematite project
outside the town of Menzies in April.
Mount Mason originally underwent studies in 2012 but entered
care-and-maintenance due to economic conditions and infra-
structure access.
Juno managing director Greg Durack is aware of iron ore’s vol-
atility – conceding it was reflected in the company’s share price
as of late – but maintains a positive outlook for the sector, shirking
negatives forecasts.
“The share price did take a bit of a dive with the decreasing iron
ore prices,” Durack told Paydirt. “However, our overheads are a
lot smaller and with the current iron ore price, there’s a decent
margin to be had, there’s going to be a decent return.
“Hopefully those prices can continue to be favourable, but no-
body can predict that. We will be looking at hedging strategies to
protect the downside as we move forward and I remain optimistic.
“I was optimistic last year when the iron ore price dropped...I
Greg Durack expected things to move along when the world started to emerge
from COVID. We’re now focused on completing the permitting of

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