Bellzone Mining shares plunged over 46 per cent in early Wednesday trading as the company announced limited iron ore resources at its flagship Kalia Mine Project in the Republic of Guinea, West Africa.
The miner said it had to revise its export target from 3.0m-4.0m tonnes to 0.8-1.0m tonnes due to lack of Joint Ore Reserves Committee (JORC) direct shipping ore. It is now expected to deliver 58% of iron content lump and fines products.
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