Flinders Mines - Another player in WA's small cap iron ore industry

Only a couple of years ago, Flinders Mines (formerly Finders Diamonds) had a focus on diamond deposits in Western Australia and South Australia. All that changed in November 2007 when Flinders announced the discovery of a major iron ore target in land adjoining Fortescue Metals Group’s Serenity deposit in the Hamersley Ranges of Western Australia.

Since the initial discovery, Flinders has raised $11.8 million to establish an iron ore exploration group, obtain required exploration approvals and commence drilling. Having defined a 511 million tonne resource, Flinders have recently announced the appointment of Worley Parsons to conduct the Prefeasibility study.

In an announcement released to the ASX, Managing Director Kevin Wills has noted that “the study will cover the entire `mine to ship' prospects of the Pilbara project, and have key study teams in place, with site investigations scheduled to proceed later this quarter".

WorleyParsons work "will cover everything from mine and infrastructure development, to environmental and safety considerations, permitting and approvals, marketing, financial modelling, and the establishment of an integrated management team for the project."

The Prefeasibility Study will progress on the basis of the Scoping Study completed by Flinders in July 2009 and is expected to completed in June 2010.

Another great sign for the economy and one to watch for those interested in the burgeoning small cap iron ore industry.

For more information on Flinders Mines, see www.flindermines.com or for employment opportunities with WorleyParsons visit www.worleyparsons.com