Mutiny Gold Completes Scoping Studies on DSO Rocksteady Project

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Researched by Industrial Info Resources Australia (Perth, Australia)--Mutiny Gold Limited (ASX:MYG) is making progress with its near-term Rocksteady direct-shipping ore (DSO) project in Western Australia. The company recently announced the completion of a successful scoping study and its intentions to progress with a feasibility study.

While focusing on the iron-ore project is its immediate priority, the company intends to continue working toward finalizing agreements for the Deflector copper-gold project, which will be its flagship project. The company has contracted the services of GR Engineering (ASX:GNG) to help with Deflector; however, it is not clear if the engineering company will be assisting with the iron-ore project.

Mutiny Gold's core business concept is to become a profitable gold producer. The company holds a portfolio of emerging projects that are in the tenement that the company acquired in 2010. It is approximately 75 kilometres from the small township of Mullewa, in the Southern Murchison region of Western Australia, and includes potential projects such as Spanish Galleon, Golden Stream and the more recent Rocksteady.

John Greeve, the managing director of Mutiny Gold, said that the company intends to develop the near-term iron ore project to generate funds to drive its flagship project. "While a Deflector gold-copper mine is our key project, we have a multi-mine strategy that encompasses the development of additional gold and iron mines."

In regards to the Rocksteady project, Greeve said: "An immediate opportunity has been identified at the historic Rocksteady iron field, and Mutiny is focused on bringing it into production and generating early cash flow. We have also identified an extension of Rocksteady that may increase the resource base."

The company can generate quick profits from the DSO project as it plans to begin site works early in the new year, with production and shipping planned for mid-year. The location of the project benefits the company, including access to the current rail network. The ore must be transported about 200 kilometres, and then can be shipped from the existing Geraldton port in Western Australia.

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