Shares in Ferrum Crescent jumped 10% as it released an operational summary of its activities in 2012.
However, these include a new joint ore reserve committee compliant resource at Moonlight Iron Ore Project of 307.8 million tonnes at 26.9% iron. Moonlight has been granted mining rights with licenses covering Moonlight, Julietta and Gouda Fontein all having met the criteria under South African law including environmental and social and labor plans.
According to the company, a high resolution airborne magnetic survey at Moonlight has enhanced assumptions at existing exploration area and also identified new prospective areas to the south, east and west of the Moonlight Deposit.
Source:
http://www.steelguru.com/raw_material_news/Ferrum_Crescent_releases_operational_summary_in_2012/296172.html
