Last checked at 8 Feb 2013 07:00
8 February 2013
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group") (ASX: FCR, AIM: FCR, JSE: FCR)
Infrastructure and Beneficiation Route Investor Presentation
Ferrum Crescent Limited, the ASX, AIM and JSE quoted iron ore developer in Northern South Africa, today announces that it has released to its website (www.ferrumcrescent.com) a new investor presentation to coincide with the Indaba Mining Conference in Cape Town, South Africa.
Link to PDF Presentation:
http://www.rns-pdf.londonstockexchange.com/rns/4269X_-2013-2-7.pdf
The presentation provides a summary of the Company's progress to date and highlights important aspects of its future plans, being:
·; Initial scoping financial models of the entire project indicate an attractive business case which encourages the company to progress completion of a bankable feasibility study over the next 12 to 18 month period with a view to construction commencing in 2015 with completion during the end of 2017/early 2018
o It is anticipated that Moonlight will be developed as a contract, open-pit mine with on-site concentrate production. A slurry concentrate pipeline is to be built to transport concentrate to a pelletising plant near existing railhead, with return water to Moonlight (100 - 220km); current preferred sites are either at Lephalale or Thabazimbi. The pelletising plant to produce 6Mtpa of iron ore pellets (68.5% Fe) for international and domestic markets is planned with a production of both direct reduction iron and blast furnace grade pellets.
·; An offtake agreement for the final direct reduction and/or blast furnace pellet product has been entered into with Duferco SA
o Exclusively for first 4.5 million tonnes of anticipated pellet production with first right of refusal to Duferco for an additional 1.5 million tonnes per year to extent pellets not sold domestically
·; Transnet, Eskom and other essential infrastructure provider plans progressed towards completion of BFS
·; Updated revised JORC compliant resource at the Moonlight Iron Ore Project of 307.8 million tonnes (Mt) @ 26.9% Fe; made up from
o 172 Mt in the Inferred category at a grade of 25.3% Fe
o 83 Mt in the Indicated category at a grade of 27.4% Fe
o 52 Mt in the Measured category at a grade of 31.3% Fe
·; A New Order Mining Right registered covering the farms Moonlight, Julietta and Gouda Fontein
o All MPRDA requirements met under South African law, including environmental and social and labour plans
o Full Environmental Impact Assessment (including 17 externally contracted specialist studies) submitted in July 2011 and approved by the DMR
Ed Nealon, Executive Chairman said: "The beginning of 2013 sees us able to focus on final discussions regarding the development of an open pit mine at Moonlight and a logistics pipeline to a pellet plant able to produce a sought after high grade iron ore product for our customers. The work the team has carried out on infrastructure negotiations over the last six months since receiving our final mining licences has moved Ferrum forward significantly towards this aim."
For more information, please visit www.ferrumcrescent.com or contact:
Australia and Company enquiries: | UK enquiries: |
Ferrum Crescent Limited Ed Nealon T: +61 8 9380 9653 Executive Chairman
Bob Hair T: +61 414 926 302 Managing Director | Ocean Equities Limited (Broker) Guy Wilkes T: +44 (0) 20 7786 4370
RFC Ambrian Limited (Nominated Adviser) Richard Morrison T: +44 (0) 20 3440 6800 Jen Boorer T: +44 (0) 20 3440 6800
Ferrum Crescent Limited Laurence Read (UK representative) T: +44 7557672432
|
South Africa enquiries: | Sasfin Capital Leonard Eiser T: +27 11 809 7500 |
About Ferrum Crescent
Moonlight Project Overview
The Moonlight Project is currently undertaking a BFS to establish the development of a deliverable, low cost magnetite ore project in Limpopo Province South Africa that produces a high grade, low impurity pellet product following beneficiation. The current established to JORC standard resource at 307.8 million tonnes is capable of sustaining operations in excess of 20 years,
It is anticipated that the Moonlight Project will be developed as a contract, open-pit mine with onsite concentrate production. A slurry concentrate pipeline to a pelletising plant near railhead will be created, with return water to Moonlight (100 - 220km); current preferred sites are at Lephalale or Thabazimbi. A pelletising plant to produce iron ore pellets (68.5% Fe) for international and domestic markets is planned with production at 6Mtpa DRI and BF pellets mainly for the export market.