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to look wider to diversify our The company is still on the

income stream and reduce risk lookout for prospective gold

for the company and its share- and base metals projects, with

holders.” Vorster and his team to cast

That diversification strat- their net wider than the tradi-

egy has started with BC Iron tional assets found in WA.

acquiring a 15% interest in Iron Valley, a former Iron Ore

the Carnegie potash project, Holdings operation which is run

220km north-east of Wiluna, by Mineral Resources Ltd, re-

Western Australia, after enter- mains the company’s flagship

ing into a JV with newly listed asset and, according to Vor-

Kalium Lakes Ltd ster, is an example of BC Iron’s

BC Iron will earn a further ideal business model.

15% interest in Carnegie upon “My preferred model is that

contributing $1 million of ex- we are the manager of a di-

penditure towards a scoping versified portfolio of assets,

study and related exploration but with an emphasis on the

activities. manager, not necessarily the

Several members of the Kali- Iron Valley will continue to be the lead project in BC Iron’s newly operator...Iron Valley is proving
um Lakes team, including man- diversified portfolio of assets that it can work in that regard,”
aging director Brett Hazelden he said.

and chief development officer Rudolph few of the current [Australian potash] Vorster described the undeveloped

van Niekerk, worked under Vorster at players who are struggling with funding. Buckland project, West Pilbara, as the

Iron Ore Holdings. We have the right skillset in terms of the “sleeper” in the company’s portfolio and

“That was the swinging factor for us in management and we have funding we the time had come for BC Iron to wake it

deciding to partner with them, acknowl- can contribute to fast-track that project to up from its slumber and provide share-

edging that their main project is Beyon- become competitive.” holders with some clarity around a poten-

die [potash project, also in WA],” Vorster BC Iron is also looking to advance the tial development and funding model.

said. Mardi salt project, 100km south of Damp- – Michael Washbourne
“We think we can accelerate Carnegie ier, with a scoping study due at the time

very quickly to catch up with at least a of print.

AUSTRALIA’S PAYDIRT MAY 2017 PAGE 11