AUSTRALIAN RESOURCES Showcase
Contents PPR Welcome Representing a contingent of Australian companies
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Auralia Mining Consulting Auralia delivers expertise in Mine engineering and resource modelling
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Continental Coal Ltd Positive numbers for a fourth Continental Coal mine in South africa
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DLA Piper What foreign mining investors need to know about the OHADA treaty
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Bauxite Resources Ltd Bauxite Resources holds premium land with historic production
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Kupang Resources Ltd Licence to operate puts Kupang into production in West Timor
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Apollo Minerals Ltd Search for world-class Copper-Gold projects in a New Frontier
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Cape Lambert Resources Ltd Broad exposure underpins strategy for accelerated investor value
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Kaboko Mining Ltd Funding agreement accelerates production for Kaboko
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Nkwe Platinum Ltd Chinese partnership paves the way to production
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Cauldron Energy Ltd High recoveries point to cost-effective uranium production at Yanrey
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Mandarin translations An overview of the companies represented by PPR and exhibiting at Mines & Money Hong Kong 2014
Our team Professional Public Relations (PPR), as Australasia’s leading investor relations firm, will be sending several of its senior practitioners and a videographer to Mines & Money Hong Kong to co-ordinate the activities of the above mentioned companies at the event. The PPR representatives listed below will be available to assist you source further information on these companies and if required, co-ordinate introductions to key executives.
David Tasker
National Director Investor Relations M: +61 (0) 433 112 936 E: david.tasker@ppr.com.au
DISCLAIMER: PPR has taken care to collect and publish this information in good faith but makes no warranties or representations as to the accuracy of any facts or representations, and has relied upon information provided to it in doing so. PPR does not accept any responsibility for the accuracy of any facts or representations published, or for any opinions expressed. PPR is not a financial adviser, and nothing within the publication is financial or other advice whatsoever. Subject to any terms implied or expressed by the law, PPR does not accept any responsibility for any reliance, loss, damage, cost or expense incurred by any reliance upon this information or anything published by PPR herein, or by acting upon it or for any error, omission or misrepresentation conveyed. The information published is general only and does not take into account any individual objectives of investors.
Colin Hay
Ryan Sparks
M: +61 (0) 404 683 355 E: colin.hay@ppr.com.au
M: +61 (0) 405 989 743 E: ryan.sparks@ppr.com.au
Account Manager
Editor: Writing:
Denice Rice Ria Rinaldi
Videographer
Cover:
Specialist photography by Tony McDonough +61 (0)8 9495 1624. +61 0418 952 495
rawimage.com.au
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Representing Australian companies on the global stage Welcome to PPR’s Investor Relations’ Australian Resources Showcase Magazine, which has been published to support PPR’s involvement in the prestigious Mines & Money Hong Kong 2014 Conference and Exhibition, being staged from March 24 to 28 at the Hong Kong Conference & Exhibition Centre. PPR is proud to be supporting the companies represented in this magazine and participating at Mines & Money Hong Kong 2014. As one of Australasia’s leading Public Relations and Investor Relations companies, PPR prides itself on being an innovative leader in promoting its clients to important audiences – and the PPR Australian Resources Showcase Pavilion at Mines & Money Hong Kong 2014, and production of this associated magazine, are just two examples of the avenues the company is pioneering in this regard. PPR broke new ground in 2011 when it brought together a major group of Australian companies under the one banner to participate in Mines & Money Hong Kong and the success of that initiative has been borne out of our continued participation this year, with nine of our client companies making the trip to be represented at Mines & Money Hong Kong 2014. Our PPR Australian Showcase Pavilion is one of the largest at the exhibition and provides an ideal venue for anyone who would like to meet with PPR’s high-quality stable
of clients attending this year’s event. Those attending include: • Apollo Minerals Ltd • Auralia Mining Consulting • Bauxite Resources Ltd • Cape Lambert Resources Ltd • Cauldron Energy Ltd • Continental Coal Ltd • Kaboko Mining Ltd • Kupang Resources Ltd • Nkwe Platinum Ltd The PPR Investor Relations division will again this year have a strong representation at the exhibition, with Investor Relations National Director, David Tasker, accompanied by Account Manager Colin Hay and Video Content Producer Ryan Spark. The IR Mines & Money Hong Kong team will be on hand throughout the event to introduce you to our client companies.
VIDEO PRODUCTION AT MINES & MONEY HONG KONG 2014 PPR in conjunction with Proactive Investors have been appointed the video interview partner for Mines & Money Hong Kong 2014.
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Proactive Investors global family of websites, Hong Kong / China, Australia, UK and Canada/U.S.
Proactive Investors with the help of PPR’s Video Content Producer Ryan Spark will be recording video interviews at the Australian Resources Showcase Pavilion with sponsors and exhibiting companies from March 25 to 27 at the event.
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The Mines and Money website
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Plus it will appear at the top of or near the top of page one on a search on Google News, Google Finance and Google Videos
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MSN, Yahoo, Seeking Alpha (No. 1 fund manager website)
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Industry and sector portals
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Social media: Twitter, Facebook etc
The interview will be broadcast over a number of key platforms including: To have a corporate video produced for your company contact: Andrew McCrea, Managing Director Proactive Investors M: +61 (0) 422 900 108 E: andrew@proactiveinvestors.com.au
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What foreign mining investors need to know about the OHADA treaty Efforts to modernise and unify business law in Africa, and to increase foreign investors’ confidence in commercial transactions, led to the OHADA Treaty being signed in 1993. It is vital that foreign investors understand the laws and practical realities of the lands they are operating in and for investors in OHADA member states, this includes understanding OHADA and the practical realities of its operations and implementation on the ground.
This treaty created the OHADA organisation itself, as well as the institutions required by the OHADA member states (being the African countries that have signed the OHADA Treaty) to harmonise and create a uniform system of business law. The term OHADA describes, collectively, the treaty and these institutions and is itself an acronym from the French name Organisation pour l’Harmonisation en Afrique du Droit des Affaires, which translates into English as The Organisation for the Harmonisation of African Business Law. There are currently 17 OHADA Member States which have ratified the OHADA Treaty. The OHADA Uniform Acts apply directly
OHADA Member States • Benin
• Gabon
• Burkina Faso
• Guinea
• Cameroon
• Guinea-Bissau
• Central African Republic
• Mali
• Chad • Comoros
• Republic of the Congo
• Côte d'Ivoire
• Senegal
• Equatorial Guinea
• Togo
• Democratic Republic of the Congo
• Niger
in all OHADA Member States and, to the extent of any inconsistency, supersede any previous national legislation on the same topic. Risks for foreign investors Limited knowledge of OHADA: Working with legal practitioners with limited knowledge of OHADA creates risk for foreign investors. If companies and projects operating within OHADA member states are not set up in conformance with the OHADA Uniform Acts there is the risk that questions of validity, title and historical legislative compliance may be brought into question at a later date. French language capacity: French is the dominant working language of the OHADA Member States. OHADA resources are rarely available in English and, even when they are, translations from the French versions are often poor and unreliable. Foreign investors should ensure they have legal advisors with French language capabilities. Using legal advisors who rely solely on questionable translations can lead to laws being misconstrued and, in turn, a legal and commercial nightmare for investors. Practical limitations: Investors need to be aware of certain practical limitations of the OHADA system. For example there is no centralised electronically searchable company register of companies registered in the OHADA Member States. Further, company registers at national Member State levels have also faced criticism in
relation to issues including inefficiency, maladministration and lack of basic infrastructure. Looking Forward OHADA has provided the OHADA Member States with modern codified legislation which has the potential to provide foreign investors with comfort regarding legislative certainty. However, foreign investors must still ensure they mitigate the risks associated with investing in OHADA Member States by obtaining appropriate legal advice. Further Information A more detailed version of this article can be found at: http://www.dlapiper.com/ global/publications/ The OHADA Uniform Acts Currently there are nine OHADA Uniform Acts in force, which cover the following topics: • commercial companies and economic interest groups; • general commercial law; • arbitration; • security and guarantee arrangements; • simplified procedures for recovering debts; • accounting systems; • bankruptcy; • carriage of goods by road; and • cooperative banks.
About DLA Piper DLA Piper is a leading provider of legal services to the global mining sector. Our team has an in-depth knowledge of the industry and the issues it faces, developed through years of working with our clients and understanding their needs. DLA Piper’s Africa Group brings together leading business law firms committed to providing high quality advice to clients in their national markets, across Africa and internationally.
www.dlapiper.com
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Search for world-class Copper-Gold projects in a New Frontier Apollo Minerals Ltd (ASX:AON) is an exploration and development company with assets in South Australia, Western Australia and Gabon, West Africa. The company is focused on the discovery and development of valuable mineral resources in politically stable jurisdictions, with an emphasis on projects with near-term development potential, close to established infrastructure. Current projects include the South Australian iron projects, Titan Base-Precious Metals Project and Mount Oscar Iron Project, in Australia, and the Kango North Iron Project, in Gabon. Apollo is developing the Titan BasePrecious Metals Project, located in the highly sought after Gawler Craton copper-gold belt, South Australia, which hosts a number of copper, nickel, gold, uranium and platinum group elements (PGE) prospects. Mineralisation styles include iron oxide copper-golduranium (IOCGU), epithermal gold, and nickel-PEG’s associated with ultra-mafic intrusions. In February, Apollo entered into a strategic alliance with High Power Exploration Inc (HPX), a private metals-focused exploration company controlled by Robert Friedland. HPX interest in Apollo was sparked by the potental to discover a world class copper-gold project in a new frontier in the northern Gawler Craton. Preliminary drill targets at the Bundi prospect have confirmed the potential for the existence of a large IOCG deposit and will be further refined by an Induced Polarisation (IP) survey, before embarking on a maiden drill program. In Western African, Apollo is earning a 82.5 per cent interest in the Kango North Iron Project by sole funding exploration and development to the completion of a bankable feasibility study. The project area is within a growing, highly regarded iron-ore province, 25km from the TransGabon railway, 20km from two hydroelectric dams and 85km from the port at Owendo and the capital city, Liberville. An upgraded directors Anthony Ho Chairman Dominic Tisdell Chief Executive Officer Richard Shemesian Executive Director
exploration target of 2-3 Bt, grading 30-40 per cent iron has been identified. Test work on surface samples demonstrate a high-grade concentrate product of 69 per cent iron can be produced. Apollo continues to progress key elements of the project. A stage one mine development concept study is currently being finalised and followup field mapping and sampling are also under way. Apollo has also entered in a selection process to engage a group to prepare the Environmental Impact Assessment associated with the drilling and development phase of the Kango North Iron Project. In January, Apollo entered into a memorandum of understanding with a major publically listed, diversified international company for the exploration and development if the Kango North Iron Project. Under the MOU, the partner may earn up to an effective 50.01 per cent interest in the project by providing US$4 million in funding to expedite drilling and delineation of high-grade DSO and beneficiable iron ore at the project. Execution of the MOU will provide significant momentum assisting the company in achieving its goal of increasing the values of Apollo’s projects and share price through active exploration and development. Apollo also holds 100 per cent interest in the Mt Oscar Iron Project located near Karratha, in the Pilbara region of Western Australia.
Matthew Rimes Non-Executive Director Guy Robertson Chief Financial Officer Derek Pang Exploration Manager
The CEO
Dominic Tisdell Dominic’s experience is in mineral-based business evaluation and strategy, project development, planning and operations. Previously, he has been responsible for international uranium, coal and iron ore investment and mining projects at Mitsubishi Corporation and Rio Tinto. He also advised for Accenture’s strategy consulting practice on investments totalling $3.25 billion.
Registered Office
Contact
Level 9 50 Margaret St Sydney NSW 2000 AUSTRALIA ASX: AON
T +61 (0) 2 9078 7665 F +61 (0) 2 9078 7661 E info@apollominerals.com.au www.apollominerals.com.au
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CHINESE PARTNER PAVES THE WAY TO PRODUCTION FOR NKWE NKWE Platinum Ltd (ASX:NKP) is a major emerging PGM exploration and development company with a number of world-class assets in the Bushveld Complex in South Africa, which produces 70 per cent of the world’s platinum. The company’s flagship Tubatse and Garatau Projects are located in the Eastern Limb of the Bushveld Complex in an established mining district with existing infrastructure, and is comprised of five contiguous farm-ins with a total strike length of more than 30km
Nkwe is moving on its ambitions to become one of the world’s leading platinum companies with the signing of a strategic partnership with China’s largest gold producer Zijin Mining Group. Under the deal, Zijin, via its wholly owned subsidiary Jin Jiang Mining, will invest A$20 million in Nkwe by way of a three-year convertible bond, which are convertible after 12 months into 200 million Nkwe shares at a conversion price of A$0.10 per share. Nkwe executive director Peter Landau said the partnership with Zijin was a significant step in the company’s development. “The strategic partnership agreement allows Nkwe to fulfil its key goal of developing its world-class PGM assets, and in particular the Garatau project, and becoming a significant producer of platinum group metals,” he said. “Zijin is one of China’s major mining houses that see Nkwe’s PGM assets as a key focus as it looks at the expansion of their overseas mining operations. “We are extremely excited to have a partner as significant and financially and operationally capable as Zijin working with us on the development of our word-class PGM assets.” Nkwe and Zijin agreed to complete the transaction in two tranches, the first trance being the issue of $7 million of convertible notes, and the final tranche being the remaining $13 million of convertible bonds. The first
tranche of $7 million of bonds was completed in December. In addition to the bonds, Zijin has agreed to a conditional share sale transaction to purchase approximately 146 million ordinary shares in Nkwe from Nkwe’s largest shareholder Genorah Resources Limited. Nkwe Platinum holds a significant portfolio of word-class platinum group metals (PGM) assets in the Bushveld Complex in South Africa. The Bushveld Complex produces 70 per cent of the world’s platinum. Nkwe’s main Tubatse and Garatau projects consist of five contiguous farms with a strike length of more than 30km. The company’s flagship Garatau project has a measured minerals resource of 14.2Moz of three platinum group elements (3PGE) and gold and an inferred mineral resource 9.1Moz of 3PGE and gold across two properties. Located in an established mining district on the Eastern Limb of the Bushveld with well-developed infrastructure, the projects are adjacent to three operating mines: the Marula Mine of Impala Platinum, Smokey Hills Mine of Platinum Australia and Anglo Paltinum’s Modikwa. Nkwe’s strategy is to create a fully integrated Black Economic Empowerment-controlled platinum mining company and to become one of the top four vertically integrated platinum companies in the world.
directors Maredi Mphahlele Managing Director Peter Landau Executive Director/ Joint Company Secretary
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Mokganyentsi Sithole Executive Director/ Joint Company Secretary Non-Executive Directors: Sharif Pandor Mxoleli Nkuhlu
Executive Director Peter Landau
Mr Landau is the founding director of Okap Ventures Pty Ltd, an internationally focused project management, corporate advisory and capital raising firm based in Western Australia and London. Mr Landau is a Director of various ASX and AIM listed resource companies, including Range Resources Ltd, Black Mountain Resources Ltd, Continental Coal Ltd and Citation Resources Ltd.
Registered Office Ground Floor 1 Havelock Street West Perth WA 6005 AUSTRALIA ASX: NKP
Contact T +61 8 9488 5220 F +61 8 9324 2400 E admin@nkweplatinum.com www.nkweplatinum.com
AURALIA delivers expertise in MINe ENGINEERING AND RESOURCE MODELLING Auralia Mining Consulting provides experts in the fields of mining engineering and resource modelling, all of whom have extensive experience working with a variety of mineral commodities, delivering successful results founded upon best practise and procedures. Auralia covers all aspects of mining consulting, including the review and development of potential ore bodies, solutions to more profitable mine management and assistance for mining companies with strategic decision making, both at a technical and board level. Auralia Mining Consulting works with companies in a variety of environments and a spectrum of commodities to deliver successful results founded upon best practise and procedures. Auralia managing director Daniel Tuffin said Auralia had a policy of close client liaison with no red tape, and no middle men. “Every consultant works one-on-one with a client and has the necessary skills and experience to ensure the work is carried out not only to a high standard, but also has the flexibility to match a client’s changing specifications and needs,” he said. “Auralia Mining Consulting covers all aspects of mining engineering and our consultants have the relevant competencies and prior experience to perform and sign off all work according to the Australian JORC 2012 Code and Canadian Article NI43-101. “Our commitment to our clients is to be here to work for them. Our team of skilled consultants is able to guide clients and provide them with the assistance needed on everything from first pass optimisations right through to bankable feasibility studies and stock exchange technical mining engineering releases.” Although Auralia’s focus lies within the Australasian region, they provide consulting services to clients based worldwide. “We are thrilled to be involved in helping to grow regional mining operations both within the region and further abroad. We take pride in knowing that we’ve provided the
management team Daniel Tuffin Managing Director Anthony Keers Director
Steve Lampron Director
necessary expertise to not only help junior mining companies to expand via technical and onsite assistance, but also supply advice to ‘mid and large cap’ companies for a range of services.” Auralia provides services for: • Whittle Optimisations • Geological Expertise • Mine & Site Designs • Mining & Milling Schedules • Independent Project Reviews • Resources & Reserves • Continuous Improvement • Project Management • Stock Exchange Technical Releases • On Site Services • Corporate Support • Financial Services
The MD
Daniel Tuffin Daniel holds degrees in Mining Engineering (BEng) from the University of Ballarat, Mining and Engineering Surveying (BSc) from WASM, a Diploma in Project Management and is an accredited Chartered Professional with the AusIMM. Daniel’s strengths lay in quality management, technical works, mentoring and board level consultation.
REGISTERED OFFICE
CONTACT
Level 2 Office K 1139 Hay Street West Perth WA 6005 AUSTRALIA
T +61 (0) 8 9322 5573 E enquiries@auralia.net.au
www.auralia.net.au PPR Resources Showcase
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Bauxite Resources large resource located near existing infrastructure Bauxite Resources Ltd (ASX:BAU) has a large tenement holding currently covering 9,468sq km in the Darling Range in Western Australia in the world’s largest alumina-producing region, which supplies approximately 15 per cent of global alumina production. Current projects include the Fortuna Project, 100 per cent owned by BRL; Felicitas Project, a joint venture with Yankuang Resource, and a bauxite exploration joint venture with HD Mining. Bauxite Resources and its JV partners currently have a bauxite resource base of 338Mt all with close proximity to rail and port infrastructure. Bauxite Resources Ltd’s (BRL) primary focus has been to develop a new bauxite source for the global alumina and aluminium industries. The bauxite found throughout the Darling Range is typically at or near to surface, allowing for simple, costeffective mining and being a gibbsite, (trihydrate bauxite), requires lower temperatures and lower pressure digestion for alumina refining. These lower energy requirements represent considerably lower energy costs, making Darling Range bauxite efficient bauxite to process. BRL’s wholly owned Fortuna Project is located on a small number of large private landholdings approximately 60km north east of Perth, and 12km from existing rail infrastructure. A total resource of 39.5Mt at 37.3 per cent total alumina has been identified. Additional drilling at the Fortuna deposit has potential to substantially grow this resource, with BRL now moving into a development phase with the evaluation of approvals, logistics and marketing for a DSO product. Bauxite Resources also has two established joint ventures over its Darling Range tenements. Bauxite Resources and Yankuang Resources Pty Ltd, a wholly owned subsidiary of Yankuang Group formed a joint venture to explore for bauxite and to investigate the potential to construct and operate an alumina refinery in Western Australia. The Bauxite Alumina Joint Venture’s (BAJV) Felicitas
Project, boasts a total resource of 218.7Mt at 39.1 per cent total alumina, over a strike length of 16.5km. BAJV and Bauxite Resources are currently undertaking mine development studies, including mine planning and environmental baseline studies for the Felicitas Project. Bauxite Resources has an established JV bauxite exploration program with, HD Mining & Investments Pty Ltd, a subsidiary of Shandong No.1 Institute of Geology and Minerals Exploration. HD Mining fully funds all exploration and development work and can earn up to 60 per cent interest in the bauxite rights of the JV. Exploration vacuum drilling has identified significant bauxite mineralisation on the new Dionysus bauxite project in the northern Darling Range, and on a number of properties in the Wandering-Pingelly region, displaying high available aluminagrade and low-reactive silica. Bauxite Resources is preparing to take advantage of the growing global demand for bauxite, especially from China, as traditional suppliers curtail production and alumina/ aluminium demand increases. BRL is well positioned to capitalise from its large portfolio of efficient processing bauxite resources, close to established infrastructure with a direct link to port access and established export route to China.
Directors Robert Nash Non-Executive Chairman Peter Canterbury CEO/Executive Director
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Non-Executive Directors: Luke Atkins Neil Lithgow John Sibly Yang Chenghai Lai Cunliang
CEO/Executive Director Peter Canterbury
Mr Canterbury is a highly regarded senior mining executive who brings to the role significant knowledge of the bulk commodity industry, particularly in bauxite and alumina. Prior to joining BRL, Mr Canterbury spent six years with Sundance Resources as their Chief Financial Officer and was the CFO of Dadco, following 12 years with Alcoa in senior finance and marketing roles
Registered Office
cONTACT
Level 2 / Building E T +61 (0) 8 9200 8200 355 Scarborough Beach Road F +61 (0) 8 9200 8299 Osborne Park WA 6017 E info@bciron.com.au AUSTRALIA www.bauxiteresources.com.au ASX bAU
Broad exposure underpins strategy for accelerated investor value Cape Lambert Resources Ltd (ASX:CFE) is an Australian domiciled, fully funded, mineral development company with interests in several exploration and mining companies, providing exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silver-zinc assets in Australia, Europe, Africa and South America.
Cape Lambert Resources is set to add to its solid history of creating shareholder value through a handson approach to management and development of underperforming mineral projects with its current focus on development of the Marampa Iron Ore Project in Sierra Leone, West Africa. Cape Lambert acquired a 100 per cent interest in Marampa Iron Ore Ltd, owner of the Marampa iron ore project, through a staged purchase in 2008 and 2009. The Marampa Project comprises two exploration licences totalling 305sq km and has a total JORC mineral resource of 681Mt at 28.2 per cent iron (above a cut-off grade of 15 per cent iron). The project is connected by a 73 km operational heavy haulage railway to an existing port, ship loader and stockpile area at Pepel. An infrastructure agreement with African Minerals Ltd provides Marampa with access rights to export 2Mwtpa (wet-equivalent to 1.8 Mtpa dry) of concentrate via the recently refurbished and currently operational Pepel rail and port infrastructure. Additionally, African Minerals Ltd has an option to purchase 2Mwtpa of Marampa concentrate at mine gate for the first three years of production.
Marampa’s strategic location close to African Minerals’ transport infrastructure means that it has a significant advantage over other iron ore projects in West Africa. Cape Lambert recently lodged a mining licence application for the project with the authorities. The granting of the large-scale mining licence, which Cape Lambert anticipates will occur early in Q2 2014, is the final step in the permitting process for Marampa. Cape Lambert executive chairman Tony Sage said granting of a licence would de-risk the project and add value from a potential investor’s perspective by providing a clear path to development. “The granting of the mining licence is the last key hurdle for progressing the Marampa project to eventually become Sierra Leone’s third iron ore producer,” Sage said. “Marampa has been demonstrated to be a financially robust project and gaining the necessary governmental approvals will significantly enhance the asset’s appeal to potential investors, in turn adding significant value for our shareholders”. The Marampa project is currently for sale with the most likely outcome a trade sale or alternatively, via a JV agreement.
NOTE: This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since, to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
directors
Tony Sage Executive Chairman Tim Turner Non Executive Director
Jason Brewer Non Executive Director Ross Levin Non Executive Director
Chairman Tony Sage
Mr Sage has 26 years’ experience in corporate advisory services, funds management and capital raising. He is a founding director of Cape Lambert Resources Ltd and current Executive Chairman. He is Chairman of Cauldron Energy Ltd, International Petroleum Ltd and Fe Ltd. and is also on the boards of Kupang Resources Ltd and Global Strategic Metals .
Registered Office
Contact
32 Harrogate St West Leederville WA 6007 AUSTRALIA
T +61 (0) 8 9380 9555 F +61 (0) 8 9380 9666 E reception@capelam.com.au
ASX: CFE
www.capelam.com.au
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high extractions point to cost-effective uranium production at yanrey Cauldron Energy Ltd (ASX:CXU) is a global uranium-focused explorer and developer with world-class assets. This progressive resource company with an increasing global presence and asset base is well positioned to take advantage of the financial markets in Australia, Asia and North America. Cauldron controls an impressive suite of uranium projects, including the Yanrey Uranium Project and the Marree Base Metals Joint Venture. Cauldron Energy has plenty of diversified opportunities on which to build company value in 2014. That building began earlier this year with preliminary testwork results of over 96 per cent uranium extraction using acid and carbonate/bicarbonate leaching methods on samples from its Bennet Well deposit at the Yanrey Uranium Project in Western Australia. Notably, a high rate of recovery with low acid consumption indicates the potential for lower operating costs. Site ground water analysis has also shown no deleterious elements present that may interfere with downstream processing. QEMSCAN analysis has also identified coffinite, sodium zippeite and uraniferous zircons in the two samples submitted. The high uranium recovery rates suggest that all three uranium species appear to be soluble and easily recoverable. “The uranium recovery rates of up to 98.6 per cent show that the uranium in the Bennet Well Project is soluble and appears to be extractable using the in-situ recovery (ISR) type production method,” Cauldron head of operations Simon Youds said. “The high uranium extraction rates show that the ISR method would be economic at even the current low commodity prices.” Exploration work is also continuing
Directors Tony Sage Executive Chairman Brett Smith Executive Director
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at Cauldron’s Marree Base Metals Project, located 550km north of Adelaide, where two promising discoveries have been identified at the Ooloo Silver-Lead Mine and the Mt Freeling Prospect. Analysis of captured induced polarisation data has identified a large resistive zone southwest of the historical Ooloo Mine estimated to be 1.5km long and 500m wide. Heritage Agreements have been reached with the Traditional Owners which permit Cauldron to have access to the Ooloo Mine region for all exploration work, including drilling. A large high-grade polymetallic zone at the Mt Freeling Prospect has also been identified. Field mapping has identified a large series of historic silverlead workings with a 2km sq radius, including a 1.6m long mineralisation fault zone with an alteration corridor up to 200m wide. This new prospect highlights the growing potential of this exciting base metal and precious metal region. Commenting on the results, Youds said that while the company remained focussed on uranium, the results of the independent geophysical report highlighted the significant potential for base metal mineralsisation at Marree. “The results of the report confirm that the base metal potential at Marree is too good on opportunity for Cauldron to ignore,” he said.
Qiu Derong Non-Executive Director
Head of Operations
Simon Youds
Mr Youds is a mining engineer, who has worked extensively in project development and mine management in Africa, Papua New Guinea and Australia. Prior to joining Cauldron, Mr Youds was CEO of African Iron Ltd. Five years with a WMC team at Olympic Dam Mine during a major expansion has given Mr Youds a clear understanding of the mining, processing and marketing of uranium oxide.
REGISTERED OFFICE
Contact
32 Harrogate St West Leederville 6007 WA AUSTRALIA
T +61 (0) 8 6181 9796 F +61 (0) 8 9380 9666 E info@cauldronenergy.com.au
ASX: CXU
www.cauldronenergy.com.au
positive outlook for a third Continental Coal mine in South africa Continental Coal Ltd (ASX:CCC/AIM:COOL) is an African-focused coal mining and exploration company offering unique exposure to growing coal demand and international growth opportunities. Continental has a portfolio of projects in South Africa’s major coal fields, including two operational mines, the Vlakvarkfontein and Penumbra Coal Mines, which are set to produce at an annualised rate of 2.2Mtpa of thermal coal. Development of Continental’s third thermal coal mine, De Wittekrans, has also commenced. Continental Coal’s interim chairman Paul D’Sylva says that while the company has experienced recent balance sheet issues, it is well positioned to supply domestic and global coal markets from two operating mines. Lower-than-expected production at Continental’s Penumbra Coal Mine has seen the miner execute a binding term sheet with UK corporate advisory firm Empire Equity to provide $5 million in bridge funding as it works to undertake a broader recapitalisation. The funds raised will be applied to general operating expenses and payments to creditors that do not otherwise agree to standstill arrangements, allowing the company to continue trading. “We have received interest from a number of globally recognised energy investors and traders to participate in the company going forward,” he said. “We have complete faith in the assets and operational management of the company, but believe a range of strategic and financing opportunities can be advanced so as to stabilise the company’s balance sheet and focus on significant growth following completion of the proposed rights issue.” Continental will focus on stability at an operational level with the company’s current mining operations whilst saving significant costs at the corporate level. As
directors Paul D’Sylva Executive Chairman Peter Landau Executive Director
Connie Molusi Non-Executive Director Lars Schernikau Non-Executive Director
part of the restructure process, Continental will look to strengthen its BEE credentials in South Africa and generate additional synergies with key strategic partners including Eskom, Transnet and RBCT to ensure a significant growth profile moving forward. Empire will invest in 7.5 million unsecured convertible promissory notes with a face value of $1 at a discounted issue price of 66 cents per note. A condition of the funding agreement was a restructure of Continental’s board and included the resignation of chief executive officer Don Turvey, chief financial officer Lou van Vuuren and nonexecutive directors Mike Kilbride and Johan Bloemsma. The company’s outgoing directors will be replaced by former Continental executive director Peter Landau, Empire venture partner Paul D’Sylva and coal marketing specialist Lars Schernikau. Continental Coal currently has two operating mines, the Vlakvarkfontein and Penumbra Coal Mines, which are set to produce at an annualised rate of 2.2Mtpa of thermal coal. Continental also has the De Wittekrans Project, which has a total JORC resource of 167Mt, including reserves of 44Mt. Once developed, the De Wittekrans Project has the potential to double the annual ROM production and export and domestic thermal coal sales of the company.
Johan Heystek Chief Operating Officer
Registered Office Ground Floor 1 Havelock St West Perth WA 6005 AUSTRALIA ASX:CCC AIM: COOL
Executive Director
Peter Landau
Mr Landau is the founding director of Okap Ventures Pty Ltd, an internationally focused project management, corporate advisory and capital raising firm based in Western Australia and London. Mr Landau is a director of various ASX and AIM listed resource companies including Range Resources Ltd, Nkwe Platinum Ltd, Black Mountain Resources Ltd and Citation Resources Ltd
Contact T +61 8 9488 5220 F +61 8 9324 2400 E admin@conticoal.com www.conticoal.com
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Licence to operate puts Kupang into production in West Timor Kupang Resources Ltd (ASX:KPR) is an Indonesian-focused explorer and developer that is positioned to become a producer of high-grade manganese concentrate product within months. The Kupang Joint Venture, in which KPR is the controlling partner, has secured both a production licence and a port access agreement to allow production and export to begin from its West Timor manganese properties and processing plant, which is capable of producing 30,000t of high-grade manganese concentrate per month.
While many foreign miners are working their way through Indonesia’s latest restrictions on raw mineral exports, Kupang Resources is fortunate enough to be able to continue with its plans without such impediments at its Kupang Manganese Project. A recent change to Indonesian legislation for the exploration of minerals prohibits the export of a number of raw materials, including manganese, and requires the product to be beneficiated to more than 49 per cent manganese before it can be exported. By purchasing ore from the local manganese miners (through the Manganese Society of Kupang), the company aims to blend the different high-grade ores at its own plant into a saleable product, and then ship a bulk concentrate both domestically and abroad via the island’s only deep-water port of Tenau. In joint venture with a local consortium of Kupang business leaders, Kupang Resources has the capacity to produce 30,000t per month at its processing plant at Bolok, and can export up to 80,000t per month through the ship-loading and deep-water port at Tanau. As long as the Manganese Society and other sources can supply enough manganese to the Kupang Project JV, the plant will keep running and product will continue to be shipped to any of the interested Asian smelters. Earlier this year, Kupang announced the delivery of 300kg
Technical Engineer
Simon Youds
Mr Youds is a mining engineer, who has worked extensively in project development and mine management in Africa, Papua New Guinea and Australia. Prior to joining Kupang, Mr Youds was CEO of African Iron Ltd. Previous experience as MD Australia for Consolidated Minerals, operators of the Woodie Woodie Manganese Mine, have given Mr Youds a clear understanding of the mining, processing and marketing of manganese.
directors
Registered Office
Contact
Ben Elias Non Executive Chairman
18 Oxford Close Leederville WA 6007 AUSTRALIA
T +61 (0) 8 6382 5500 F +61 (0) 8 9388 2304
ASX:KPR
www.kupang.com.au
Tony Sage Executive Director
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raw ore samples for testing at an authorised laboratory in Jakarta. The testing of these samples is required to enable the Department of Energy and Minerals to formally approve Kupang’s facility as being authorised to produce a concentrate suitable for export in line with the new legislative changes. The 300kg raw manganese ore was sourced from the growing raw ore stockpile at the company’s Bolok site where its commissioned processing facility await the increase in raw ore deliveries from the manganese mining industry in the region. The region of Kupang – also known as West Timor – has been regarded in geological circles as fertile for manganese for many years, however for entrepreneurs who have tried, the region’s potential has been capped by the absence of infrastructure, experience and expertise in getting the manganese to the smelters of South East Asia. First production is planned for first quarter this year, although the authorities’ administrative challenges following recent changes may end up pushing this into April/ May, as Kupang Resources fine tunes the ramp-up in delivery capacity and finalises discussions with relevant officials. Conservative estimates have indicated the project has the potential to generate $3 million a month in export revenue.
Jason Brewer Non Executive Director
FUNDING AGREEMENT ACCELERATES PRODUCTION FOR KABOKO Kaboko Mining Ltd (ASX:KAB) is an Australian-based mining company focused on exploration and development of its portfolio of highly prospective manganese assets in Zambia. Kaboko holds a 51 per cent interest in five large-scale prospecting licences and three small-scale mining licences in established manganese mining districts in Zambia, including the Emmanuel Project. The company is focused on increasing production and exports of a high-grade, high-quality manganese ore from its projects throughout Zambia. Kaboko has acquired an additional $US1.16 million in plant and equipment to accelerate production at its flagship Mansa Manganese Project in Northern Zambia. Funding for the investment will be drawn down from tranche B of a US$10 million debt funding and long-term manganese offtake agreement struck with Noble Resources Ltd. The miner will acquire a scrubber trammel and jig circuit, to be used in conjunction with a semi-modular crushing plant, to process material during the wet season and recover the high-grade manganese nodules contained in alluvial overburden. Having already received a $4.5 million advance under tranche A of the funding facility, which has been used for initial exploration and the development at the Northern Manganese Project in Mansa, the release of the final $3 million funding will provide Kaboko with all the funding necessary to complete the mine development and associated plant and equipment purchases and start deliveries of high-grade manganese ore pursuant to its off-take agreements. In August 2013, the company sold the first 2,000t of high-grade manganese ore from Mansa to Noble. Production at the Mansa manganese project is currently approximately 5,000t per month, with the company boasting a current on-site stockpile of 10,000t of high-grade manganese and an additional 30,000t of detrital
directors Tokkas Van Heerden CEO/Executive Director
Paul D’Sylva Director
Malenga Machel Director
Shannon Robinson Director
over-burden to be processed. With the acquisition of the additional equipment, Kaboko aims to double its current level of production to 120,000t a year. An additional front-end loader, dumper truck, excavator, spare parts and other key equipment items will be purchased with funds from the recent draw down. The completion of a recent RC drilling exploration program identified visible mineralisation intersections significantly wider than previous results. The drilling program was undertaken in two phases consisting of a total 32 holes totalling 2,760m with a total of 748 samples collected. Kaboko currently holds majority interest in five large-scale prospecting licences and three small-scale mining licences covering 2,700sq km in Zambia, with further licences in the process of being converted to mining licences. The company is focused on resource definition drilling and exploration across its large licence holdings and establishing long-term sustainable production of a high-grade and high-quality manganese ore from its Emmanuel, Kanona and Mansa, Northern Zambia projects. Kaboko has also identified several acquisition opportunities in other parts of Africa and South Africa and is considering a number of projects with synergistic high-grade ore bodies that are in or near to production.
The CEO
Tokkas Van Heerden Mr Van Heerden introduced the Zambian manganese projects to the company and manages local operations and personnel. Mr Van Heerden is actively involved in developing mining rights in Africa and has extensive mining experience in South Africa, DRC, Mozambique, Zambia, Namibia and Zimbabwe.
Registered Office
Contact
Ground Floor 1 Havelock St West Perth WA 6005 AUSTRALIA
T +61 8 9488 5220 F +61 8 9324 2400 E info@kabokomining.com
ASX: KAB
www.kabokomining.com PPR Resources Showcase
13
Apollo Minerals Ltd (ASX:AON)是一个矿产勘探和开发公司，资产分布于澳洲 的南部、西部和西非的加蓬。这个公司专注于政治稳定的司法管辖区内富有价 值的矿产资源的发现和开发，特别是具有短期开发潜力的、靠近已经建立的基 础设施的项目。
Auralia矿业咨询公司提供采矿工程和资源模型领域的专家，他们都拥有丰 富的处理多种矿产品及移交建立在最好的实践和程序基础上成功案例的经 验。Auralia涉及采矿地质学和采矿工程学的各个方面，包括潜在矿体的复核和 开发、更有利的矿井管理对策和协助矿业公司做出在技术和董事会层面的战略 决定。
Bauxite Resources Ltd (ASX:BAU)是西澳最大的物业拥有者之一，在Darling山 脉拥有大约9,468平方公里。这个地区是世界上最大的矾土生产区域，提供大约全 球产量的20%。目前进行的项目包括Fortuna项目、Bauxite Alumina合资项目和HD Mining合资项目。Bauxite Resources和他的合作伙伴拥有超过3.38亿吨的铝土矿 资源。
Resources Ltd
Cape Lambert Resources Ltd是澳大利亚一家资源和投资公司，对大量的项目和 公司都有兴趣。通过并购、购买股票和直接投资，在澳大利亚、欧洲、非洲和南 非，Cape Lambert已经涉及铁矿石、铜、金、铀和磷酸盐。Cape Lambert的公司 战略是对价值被低估和境遇困难的矿物资产进行并购和投资，并通过亲自管理、 开发和评估增加那些资产的价值。
DLA Piper是为全球采矿业提供法律服务的领导者。通过多年为我们客户的服务 及对其需求的了解，我们团队对这个产业和它面对的问题有深入的认知。DLA Piper非洲团队将处于领导地位的法律公司（非洲和国际的）聚集在一起，致力 于为客户在其国内市场其提供高质量建议。
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Cauldron Energy Ltd (ASX:CXU)是Scimitar Resources Ltd和Jackson Minerals Ltd这澳大利亚两个高度互补的勘探公司合并后的产物。合并的结果是出现了一个 更大的、更进步的资源公司，它拥有上升的全球性的业务和资产基础，它被合理 定位以在澳大利亚、亚洲和北美的金融市场获得利益。Cauldron已经开发了一系 列令人印象深刻的铀项目，包括Yanrey铀项目和Marree Base Metals合资项目。
Continental Coal (ASX:CCC/AIM:COOL/US-OTCQX:CGFAY)是一家以非洲为关注 重点的煤炭开采和勘探公司，对日益增长的煤炭需求和国际成长机遇提出独特 的见解。Continental在南非主要的煤矿领域拥有一套组合项目，包括三个运 营中的煤矿：Vlakvarkfontein, Ferreira 和 Penumbra，它们年产热煤220万 吨。Continental 的第四个热煤矿，De Wittekrans，也已经开始开发。
Kupang Resources Ltd (ASX:KPR)是一个以印尼为关注重点的勘探开发企业，是一 个定位于成为可以在几个月内提供高质量的镁块产品的生产企业。Kupang Joint Venture，由KPR控股，已经获得了生产许可和港口使用合约，可以进行生产和出 口。这开始于它西帝汶的锰资产和加工厂，这个加工厂可以每月生产高质量的锰 块产品30,000吨。
Kaboko Mining Ltd (ASX:KAB)是一个以澳大利亚为基础 的矿业公司，专注于勘探和开发它在赞比远景很好的镁矿 组合项目。在赞比亚已建立的镁矿区，Kaboko持有5个大 范围探矿许可证和3个小范围采矿许可证的51%股份，包括 Emmanual项目。Kaboko公司致力于通过它所有在赞比亚的 项目，提升高级别、高品质镁矿的生产和出口。
NKWE Platinum Ltd (ASX:NKP)是一个主要的新兴铂族金属勘探和开发公司。在南 非的Bushveld Complex它拥有大量的世界级的产业，这些产业生产了世界上70%的 铂金。公司的旗舰项目，Tubatse和Garatau项目坐落于Bushveld Complex的东部。 这是已经建立的采矿区，拥有基础设施，由5个相邻的具有油田转租协议的矿体组 成，总的走向长度超过30km。
PPR Resources Showcase 15
AMEC CONVENTION
2014 Association of Mining and Exploration Companies
1 - 2 July 2014
Crown Perth, Western Australia
The AMEC Convention 2014 provides a focal point for industry discussion and development. It will cover the commercial, political, social and environmental aspects of mineral exploration and mining in Australia.
INVESTOR PRESENTATIONS
Allan Kelly Managing Director, Doray Minerals
Will Robinson Managing Director, Encounter Resources
David Moore Managing Director, Mincore Resources
Chris Torrey Managing Director, Silver City Minerals
Ken Brinsden Managing Director, Atlas Iron
Senator the Hon. Mathias Cormann, Minister for Finance
INDUSTRY UPDATES
Dr Martin Parkinson Treasury Secretary
Hon. Richard Court Past Premier of Western Australia
OPPORTUNITY AUSTRALIA WORKSHOP • • • • • • • •
Australian Tax Implications Environmental Regulations in Australia Australian Land Access Aboriginal Affairs Australian Geology Infrastructure in Australia Social License to Operate in Australia Workforce, Skills and safety
For more information visit
www.amecconvention.com.au
CONV14-006
To be held on Monday 30 June 2014 at the Crown Perth, Western Australia, preceding the AMEC Convention. The workshop will provide an introduction to Australian mineral exploration and mining. Topics include: • Australian Security Exchange (ASX) Rules • JORC Code • Foreign Ownership (FIRB) • Capital Raising for Australian Projects