Killi Resources Limited (ASX:KLI)

Killi Resources Limited announced the acquisition of the Lodestone Iron Ore Project located in Western Australia's Midwest Iron Ore District. The project is strategically positioned near the Port of Geraldton and is connected by road and rail infrastructure. The acquisition includes a substantial inferred resource of 110Mt at 33% mass recovery, producing a high-quality 69% Fe concentrate with low impurities. The Lodestone project presents significant growth potential as the current resource accounts for only 20% of the known magnetite mineralization. Killi aims to advance this resource through additional drilling and metallurgical test work to enhance its mineral resource estimate. The acquisition from private interests involves an agreement to issue shares and a royalty arrangement. The company secured $15 million through a share placement to fund exploration and development at Lodestone and other projects. Killi's strategy focuses on leveraging the high-purity magnetite market, driven by the demand for green steel, and maximizing operational efficiencies through the project's advantageous ore characteristics and infrastructure.