Brockman Advances Marillana Project with Key JV and Port Infrastructure Moves

Marillana Project Momentum

Brockman Mining Limited’s quarterly activities report for the period ending 31 December 2024 highlights ongoing advancement of the Marillana Iron Ore Project in Western Australia. The company, in partnership with Mineral Resources Limited (MinRes) and Hancock Prospecting Pty Ltd, continues to execute the agreed Indicative Development Proposal, focusing on project development and infrastructure.

Polaris Metals, a wholly owned subsidiary of MinRes, has satisfied its farm-in obligations and now holds a 50% interest in the Marillana Project, formalizing the joint venture established in April 2021. This partnership is pivotal in driving the project through technical studies, environmental planning, and infrastructure development.

Infrastructure and Logistics Progress

The joint venture is actively progressing studies and approvals for critical infrastructure, including loading facilities, haul roads, a rail spur, and a new iron ore export berth at Port Hedland’s Stanley Point Berth 3 (SP3) in South West Creek. These facilities are essential to facilitate efficient export logistics for Marillana’s product.

MinRes and Hancock Prospecting’s collaboration on the new port development received a port capacity allocation from the Western Australian Government, confirming available capacity to meet production requirements. However, the final investment decision remains contingent on securing all necessary approvals and agreements.

Exploration and Environmental Stewardship

Exploration activities continue with geological mapping and drilling planned for 2025 at the Ophthalmia Project’s Three Pools and Hancock Range prospects, aiming to expand the resource base. Environmental management remains a priority, with updated plans addressing water, greenhouse gas emissions, and ecological monitoring. Notably, extensive consultation with Traditional Owners has commenced, reflecting recent legislative requirements for social surrounds consultation.

Financial Position and Corporate Overview

Despite no mining production or development expenditure this quarter, Brockman maintains a consolidated cash position of HK$2.0 million. The company benefits from substantial financing facilities, including unsecured loans from substantial shareholders and Polaris Metals, providing a runway of approximately 3.5 quarters based on current cash outflows.

Payments to related parties, including executive and non-executive directors, amounted to HK$1.0 million during the quarter. The company’s securities on issue stand at over 9.28 billion fully paid shares, with governance overseen by a board comprising both executive and independent non-executive directors.

Looking Ahead

While the Marillana Project’s development is progressing steadily, the absence of mining production this quarter underscores the early stage of operational ramp-up. The success of infrastructure approvals and the final investment decision will be critical milestones to watch, as they will determine the project’s transition from development to production.