Flinders Mines in pre open pending Pilbara iron ore project announcement

Flinders Mineshas been granted a trading halt by the ASX pending the release of a strategic review on the wholly owned Pilbara Iron Ore project in Western Australia, with the company's shares placed in pre-open.

Flinders now has time to review its options, with the halt lasting until the earlier of the announcement being made to the market, or the opening of trade on Friday 25 November.

Earlier in the month Flinders boosted the company's global resource at the project to 917 million tonnes at 55.2% iron.

Importantly - some of the resource is contained in the higher confidence categories, with Measured Resources of 101.0 million tonnes at 56.4% iron, Indicated Resources of 343.7 million tonne at 55.5% iron, with the remainder being Inferred Resources of 472.6 million tonnes at 54.7% iron.

WorleyParsons (ASX: WOR) is currently undertaking a Definitive Feasibility Study at the project, with the latest resource being integrated into the study.

(Sourced from proactiveinvestors.com.au)