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Iron Bear Resources Ltd (ASX:IBR)

ALERT: Price-sensitive ASX Announcement for IBR
Current share price for IBR : $0.026 -0.026 (-50%)+
Announcement
Release
21 Aug 2026 10:24AM
Price at Release
$0.052
Full Release
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Summary
Iron Bear Resources Ltd announced the receipt of a USD$1.3m funding tranche from Vale, marking the final payment of the Phase 1 contribution towards the development of the Iron Bear iron ore project. Located in the Labrador Trough, Canada, the project hosts a significant JORC 2012 compliant Mineral Resource and is supported by a Development Agreement with Vale, which allows Vale to provide up to USD$138 million in funding across two phases to secure a 75% stake in the project. The project has successfully produced high-grade direct reduction concentrate and DR pellets, crucial for the production of high-quality steel.
Key Points
  • Iron Bear Resources Ltd received a USD$1.3m funding tranche from Vale to advance Project Iron Bear.
  • Vale has committed a total of USD 18m towards Phase 1 of the Iron Bear Project.
  • The Iron Bear Project is located in the Labrador Trough, Canada, and has a JORC 2012 compliant Mineral Resource of 13.6 billion tonnes at 30% Fe.
  • Vale can provide up to USD$138 million in funding across two phases to earn a 75% interest in the project.
  • Metallurgical test work has produced high-grade direct reduction concentrate and low-carbon DR pellets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.