Member Info for corbine

on the rns link to go with earlier rns posts (cant display tables on this site) http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11380157

Development of revised expansion plan SRL has an ongoing strategic analysis and planning process which it uses to evaluate the optimal mining sequence and mining method for SRL's extensive suite of deposits. Due to the success of Lanti Dry Mining and the reappraisal of the Gangama deposit as part of the D3 feasibility study process, SRL identified the opportunity for Gangama Dry Mining. The initial expectation had been that dry mining the Gangama deposit would reduce the mineable resource; however, the actual result is that dry mining would actually access an additional 22% of ore that a dredge could not. As a result of this preliminary analysis, a full pre-feasibility level study was conducted into the dry mining of Gangama, the results of which are described herein. Revised expansion project plan timetable As noted above, the Board of Directors of SRL has authorized management to proceed with detailed engineering work and a project implementation plan immediately. Given its far superior economics and lower risk, Gangama Dry Mining will replace the small Mogbwemo tailings dredge ("D2") as SRL's next expansion project. It is currently SRL's expectation that D2 would be introduced subsequently to maintain SRL's production at over 200,000 tonnes of rutile per annum; however, this is currently beyond SRL's detailed planning horizon, so no definitive decision has been taken in this respect. SRL will also continue to review alternative small development projects, including additional dry mining opportunities. It should be noted that SRL has not committed at this point to implement either D2 or the Sembehun Dredge or to exceed its targeted annual production of ca. 200,000 tonnes of rutile per annum.

authorize management to move this forward on an expedited basis." Gangama Dry Mining The Gangama Dry Mining project involves the excavation of SRL's Gangama deposit using conventional earth moving equipment, followed by the initial processing of the ore in a concentrator located at Gangama. The concentrate will then be processed in SRL's existing mineral separation plant. Both earth moving equipment and the concentrator are consistent with those used in SRL's dry mining operation at its Lanti deposit, currently nearing the completion of construction, significantly reducing the project delivery risk. At capacity, the mining rate will be around 20,000 tonnes per day. This equates to an average annual production of 83,400 tonnes of rutile, 46,000 tonnes of ilmenite and 9,500 tonnes of zircon concentrate. Low-risk project In addition to the compelling economics of the Gangama Dry Mining project, its delivery is also low-risk as SRL is currently successfully commissioning a similar dry mining project at its Lanti deposit. The earth moving equipment used at Gangama will be substantially of the same models and specifications to that acquired for the Lanti project that have successfully created the ore stockpile at Lanti. In addition to de-risking the project, the expanded equipment fleet also allows for maintenance and utilization savings to be made that are not factored into the pre-feasibility study. The Gangama concentrator unit will consist of two concentrating units substantially identical to that currently being commissioned at Lanti, other than the addition of a second screen due to the differing nature of the Gangama deposit from the Lanti deposit. Concentrate will be fed to the existing mineral separation plant in the same way as the current Lanti Dredge and Lanti Dry Mining operations. Gangama Dry Mining may be developed in two separate phases mining 3.5 million tonnes per annum of ore, providing additional optionality in production profiles. Sembehun Dredge The Sembehun Dredge would consist of a 1,875 tonnes per hour bucket ladder dredge and associated floating concentrator plant, a 50 tonne per hour mineral separation plant, an 18.6MW power plant; and all site infrastructure required to support an independent operation. Final product shipments would be via the existing port at Nitti. It should be noted the Sembehun Dredge scoping study assumed that the existing mineral separation plant is at full capacity due to processing concentrate from Lanti Dredge, Lanti Dry Mining and Gangama Dry Mining. This means that a new mineral separation plant and associated infrastructure would be required to process concentrate from the Semehun Dredge. This contributes $131 million of the above up-front capital expenditure.

change to expansion strategy http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11380157 Sierra Rutile announces a significant change of expansion strategy London, UK, 31 October 2012: Sierra Rutile Limited (AIM: SRX) ("SRL") is pleased to announce a significant change in its expansion strategy with the fast-tracked development of a new project, the dry mining of the Gangama deposit ("Gangama Dry Mining"). Based on a just-completed pre-feasibility study, Gangama Dry Mining will have an average annual production profile of 83,400 tonnes of rutile, 46,000 tonnes of ilmenite and 9,500 tonnes of zircon concentrate over a life of 6 years, for an up-front capital cost of $103 million over its 12 month construction period. This project has a pre-tax IRR of 238% and an 8-month payback period, and yields a pre-tax NPV of $507 million. Given the exceptional economics and low-risk profile of Gangama Dry Mining, as described in more detail below, the Board of Directors of SRL has authorized management to proceed with detailed engineering work and a project implementation plan immediately. Site preparation activities have also been started. Assuming full-scale construction of Gangama Dry Mining begins in the first quarter of 2013, SRL's production profile would be 185,000 tonnes of rutile in 2014 and 205,000 tonnes of rutile in 2015. Production in 2013 is expected to be 125,000. In addition, a scoping study conducted by Snowden Mining Industry Consultants and supported by CPG - Mineral Technologies and QCC Resources - Logistics has been completed for a large dredge mining operation beginning in the Sembehun deposit (the "Sembehun Dredge"). With a pre-tax NPV of $347 million, and an average annual production profile of 113,000 tonnes of rutile and 66,000 tonnes of ilmenite over a life of 22 years, the Sembehun Dredge represents the next step change in production for SRL. Commenting on Gangama Dry Mining, John Sisay, Chief Executive Officer, said "This project is a game-changer for SRL. While the identified opportunity of significantly increasing rutile production through the construction of a new large dredge did indeed return excellent economics, and certainly remains a clear project for us on a revised basis in the future at Sembehun, Gangama Dry Mining is so outstanding that it immediately comes to the front of the queue." Jan Castro, Chairman of the Board, added, "The Gangama Dry Mining study has demonstrated the type of exceptional economics that can only be associated with world-class mining deposits. The SRL management team is to be commended for its continuing focus on maximizing value from its asset base. The substantially lower capex, superior economics, much shorter development time, and lower risk profile of Gangama Dry Mining clearly define it as SRL's next step, and the Board is pleased to authori

whats a polititicians priorities? serve their public? first is to get elected by ..... second is to stay elected by...... cynic? musing corbs:-)

and current incumbent? http://uk.reuters.com/article/2012/10/18/sierraleone-election-koroma-idUKL5E8LIOGU20121018

best this guy doesnt get in? http://uk.reuters.com/article/2012/10/20/uk-sierraleone-election-idUKBRE89J0ET20121020 i have no idea how the preliminary figures are going? the odds. :-)

your most welcome - early days for me- will wait as other fires burning-some brightly some, not so... elections due with sleone shortly. interesting times ahead :-)

proactive this weekend-off topic, sula which you mentioned... http://www.proactiveinvestors.co.uk/companies/news/49606/sula-irons-search-for-gold-turns-up-base-metal-gem-49606.html

confident :-)

£300k :-)

is the drop related to duponts weakness with rutile demand/supply? is kenmare and ilucka sharing the same fair? suppose we see next events as tzmi congress in hong kong november 5-8th, sierra leone national elections november 17th- the notusa elections november 6th in the middle of tzmi? meet. who can can potentially benefit from current sp softness? re-entry traders?,, vlad iorich?/pala if they choose to attempt a takeover, again. interesting 4 weeks ahead. imo gl dyoR etc -corbs:-)

http://www.bloomberg.com/news/2012-10-23/dupont-profit-trails-analyst-estimates-as-pigment-sales-decline.html

obviously my posts relative to vlad are guessing? musing? as always :-)

how could you forget? lol- maybe its the icing on the cake that vlad always wanted in on? :-)) i see greenlands got a large melt on its hands -plenty of zinc to come from there -ironbark in good time eh? :-) http://www.youtube.com/watch?feature=player_embedded&v=G08xPmxR28U robs ufos are summit else sniffer :-)

conkers? whats wrong with our rees ? lol

russians? think vlad will wait till post elections and rutile price settles. if/when he comes for third time lucky takeover- still think dupont (historic customer) would do well with srx under its belt. its the srx grade sniffer, the grade of ore - can you say the same over pfp side of africa? :-)))

theyre probably attending-just not on speechlist- its on 17th november i think? bit close to tzmi - and the opposition whinging about mining laws -best they dont get in.. http://uk.reuters.com/article/2012/10/20/uk-sierraleone-election-idUKBRE89J0ET20121020

why is cameroon rutile on the list and not srx? http://congress.tzmi.com/programme.html sniffer-- note the new russian player? :-)

current speakers list http://congress.tzmi.com/speakers.html