Quarterly Report – Ferrum Crescent – FCR
Justin Tooth, Executive Chairman of Ferrum Crescent, today commented:
In the quarter under review we focused on dual elements; we continued to work towards progressing our Moonlight project whilst our exclusive option over promising brownfield lead‐zinc assets in Spain required careful evaluation and negotiation. At Moonlight, we have been reviewing and discussing development pathways with potential engineering partners for a possible reduced cost production model.
Regarding Spain, following two short nil‐cost option extensions to ensure that the vendors had addressed the various conditions precedent to the Board’s satisfaction, in late September the Company exercised its right to acquire 100% of Goldquest and its promising lead‐zinc assets. We are now progressing exploration activities at the Toral project site and have simultaneously begun to reassess the considerable amounts of historical geological data on the asset and prepare it for suitable recodification and release. I look forward to updating the market further in due course.
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