Cyclone Metals Limited (ASX: CLE) has announced a major step forward with the commencement of a Pre-Feasibility Study (PFS) for its 100%-owned flagship Iron Bear Project, located in the Labrador Trough, Canada (Figure 1). The appointment of global engineering firm Hatch to lead the study underscores the project’s significance and the Company’s intention to position Iron Bear as a strategic supplier of high-grade magnetite concentrate for the global steel market.

Cyclone Metals Limited (ASX: CLE) has released the results of its Scoping Study for the flagship Iron Bear Project, located in the Labrador Trough, Canada — a region that has been a cornerstone of North America’s iron ore industry for over 70 years. The study outlines the potential for a world-class, long-life magnetite operation, producing premium iron ore products that are aligned with the growing demand for low-carbon “green steel”.

Cyclone Metals Limited (ASX: CLE) has released its Quarterly Activities Report for the period ending 30 June 2025, and the momentum behind the Iron Bear Project is evident. Backed by a strategic partnership with Vale S.A., the quarter saw the completion of critical technical studies, advancement in metallurgical testing, progress across engineering and environmental baselines, and tangible steps toward the upcoming Scoping Study and PFS.