Next low-cost green producer of high purity pig iron

Global environmental leader in iron making

Grand River Ironsands (GRI) continues to aggressively advance an enormous mineral sands (iron) resource that is the basis for a low cost-high purity iron product — cast iron, pig iron, iron ingots, etc. The immediate targets are: to satisfy the requirements of resource delineation, determine the grade of the iron products, the cost metrics, and the permitting to advance construction. GRI is committed to proving this iron product can be produced in the top 10% globally for low cost, and top of the class environmentally.

Targeted Cast Iron Grade: Fe 95-96%; C 3.5-4.0%; Si 0.18%; S 0.05%; P 0.03%; Mn <0.01%; Ti <0.01

Top Priorities in 2012:
  1. Resource Statement
    1. Inferred Resource Statement for 25 years of pig iron production of 500,000 tonnes per annum——Completed in February 2012
    2. Indicated Resource Statement for 25 years of pig iron production of 500,000 tonnes per annum——To be Completed by June 2012
  2. Summer Drill Program——Projected by September 2012
    1. Deep drilling to 40 metres (currently 10-15 metres depths) to establish grade to depth
    2. 20 holes to be drilled on the river block to close off a resource calculation on river
    3. Resource expansion of land targets and drilling program——Projected Q3-Q4 2012
  3. Development of Pilot Plant for Magnetic Separation——In progress and projected to be Completed by July 2012
  4. Finalize design and testing of commercial level separation plant——In progress and Completion in Q3 2012
  5. Bulk Sample of 7,000 tonnes of sand to produce ~300 tonnes of iron ore concentrate——Permitting approved and work to begin in June 2012
  6. Melt Test of 250-300 tonnes of iron ore concentrate to validate identified melting process and establish the grade of pig iron with ironsands——Projected to be Completed in Q4 2012
  7. Community Development and Consultation Program——In progress
  8. Secure Off-Take Commitments: Focusing on those that value the environmental benefits of "Green" Cast Iron/Ingots——In discussions with Steel Mills, Foundries, and Traders
  9. Secure strategic and Financial partners for $400 million CapEx——In progress and to be Completed by Q4 2012
  10. Establish and review potential sites for iron making plant (low cost electricity (125 MW); port; community support;  infrastructure; local and government leadership in economic development)——In progress
  11. Initiate Mining Plan and Prefeasibility Study——In progress
  12. Initiate Connectional Design and Engineering of Iron Making plant — contract awarded to Tenova Group in January 2012——Projected to be Completed by July 2012
  13. Initiate Environmental Permitting Process for mining (iron ore concentrate) with potential for iron making locally and elsewhere——Projected initiation in Q3 2012
  14. Impact Benefits Agreement with Innu First Nation and other local agreements——To be initiated in Q3 2012 top