Padbury's key corporate aim is to build value for shareholders through the strategic exploration and development of its 2000sqkm of potentially high grade mineralised tenements in the Mid West.
The company has made significant inroads to this end, with the announcement in April 2011 of a maiden JORC compliant magnetite resource of 850Mt at 27.3% Fe at its flagship Peak Hill Joint Venture. This has since been upgraded to 925Mt @ 27.2% Fe including 251Mt @27.4% Fe in the Indicated category.
This project is also highly prospective for Direct Shipping Ore, with a maiden JORC compliant resource of 11.55Mt @ 58.55% Fe.
Padbury's Corporate Strategy incorporates a growth plan through development of its key iron ore asset, the Peak Hill Iron Project, as well as strategic joint venture, farm-in or acquisition of other relevant companies/tenements that can add value to the company.
With a range of iron ore projects in various stages of production, from junior exploration to producing mines, as well as other significant mineral resource deposits, the Mid West is shaping up to be Australia's next major mineral commodities export region.
Achieving this goal is dependent on the development of deep water port and rail facilities, which will ensure the region's prospective mines are not left stranded without the means of transporting product to market.
The Western Australian Government has recognised this with its support of the development of the Oakajee Port and rail infrastructure, a commitment strongly endorsed by Padbury. Along with the region's major producers and developers, such as Sinosteel Midwest Corporation, Gindalbie and Murchison Metals, Padbury will require the port and rail infrastructure to export its products.