WPG Resources WPG Resources WPG Resources
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WPG Resources - An emerging South Australian Iron Ore Producer

WPG Resources Ltd is an Australian ASX listed mineral resources company with emerging iron ore and advanced coal exploration projects located in South Australia. The ASX code is WPG.

When WPG sold its iron ore assets in October 2011 for $320 million, a seven-fold increase in the amount expended since the assets were acquired in 2006, the Company had delivered total shareholder returns of 110%, 84% and 58% per annum over the previous 1, 3 and 5 year periods. Following the distribution of the proceeds of the sale to shareholders, including the payment of the Company's maiden dividend, WPG's market capitalisation has fallen from well over $300 million to its current level as expected. Management is determined to endeavour to repeat this outstanding performance, to the benefit of all shareholders.

WPG’s key projects now include tenements in the Northern Gawler Craton that are prospective for iron ore, gold, copper, nickel and uranium together with its coal interests in South Australia. The most advanced coal project, Penrhyn, contains a total resource of 352.4 million tonnes of coal, with further exploration potential, and the total coal resource inventory inclusive of the lignite at Lochiel North exceeds 600 million tonnes.

An additional key asset held by the Company is the land it owns at Port Pirie and the approvals already in place to develop an iron ore receival, storage and load-out facility there.  This facility is equally suitable for the export of other bulk commodities, including coal, subject to some additional approvals. WPG believes its Port Pirie asset is a key plank in delivering a mine-to-market solution for a number of resource assets in South Australia which, without port access, will never be developed. WPG will be leveraging off this strategic opportunity.

WPG has commenced a program to assess investment opportunities designed to replace the iron ore assets it sold in October 2011.

 

WPG Resources WPG Resources WPG Resources
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WPG Resources Ltd

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