The review will detail the value of its 47% stake in the project, which it holds through Karara Mining.

The company said it expected to remain on hold until August 11.

In other updates, Gindalbie produced 930,000 tonnes of iron ore concentrate from Karara in June, up from the 901,000t and 829,000t recorded in previous quarters.

A total 895,000t was exported on 35 shipments for the three-month period, broadly in line with the 911,000t and 897,000t recorded in March and December.

No direct-shipping ore was mined over the quarter, but the company bought some product to maximise rail and port capacity.

A total 1.1 million tonnes of DSO material was exported in June.

Gindalbie said it could not provide guidance on when Karara would achieve positive cash flow.

It said any forecast would depend on the outcome of ongoing work assessing and improving the project’s capacity and performance.

Work to assess and de-bottleneck Karara’s process plant continued over the quarter, and Gindalbie said it had also continued with initiatives to address harder-than-expected zones in the orebody.

In other parts of the business, the June quarter saw Karara Mining obtain a new $US300 million ($A322 million) loan to meet a funding shortfall for Karara.

The company also received environmental approval for its Hinge iron ore project 23km northeast of Karara.

Last month MACA was awarded a $A90 million contract for civil, mining and drill and blast services at the development.

First ore is expected to be exported in the December quarter.

The June period also saw Karara Mining undertake near-mine drilling, while Gindalbie tested a number of targets as part of its regional program.

Gindalbie finished the quarter with cash reserves of $18.5 million and term deposits of $24.5 million.

It said it had reduced its workforce over the past three months, and an ongoing cost reduction program was in place.

Gindalbie shares last traded at 5.8c before entering a trading halt.