Huayi Resources Ltd Share Price

HuaYi Resources Ltd is an Australia-based company, which has a magnesite project, the Jincheng Magnesite Project in the mountainous region in Haicheng City, in the Province of Liaoning, People's Republic of China (PRC). The Jincheng Magnesite Project covers an area of approximately 0.214 square kilometers. The Company intends to undertake a drilling program with the aim to provide resource for the Jincheng Magnesite Project and verify and validate the PRC classified mineralisation estimates. The Company has about a 5-year mining license expiring which enables the Company to remove around 300,000 tons of magnesite ore per annum from the Jincheng Magnesite Project. The Company has undertaken 3D modelling which indicates that an exploration target tonnage estimate of between around 41 Million tons and 46 Million tons of magnesite mineralization should be considered for the Jincheng Magnesite Project.