Last checked at 18 Aug 2011 07:00
18 August 2011
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group")(ASX: FCR, AIM: FCR)
Total Voting Rights
The Board of Directors announces it has applied for admission to AIM of an additional ordinary share of no par value (the "Ordinary Share"). 102,000,001 Ordinary Shares were issued to former shareholders of Ferrum Metals Proprietary Limited (then named Ferrum Crescent Limited) by the Company (then named Washington Resources Limited) rather than 102,000,000 Ordinary Shares as announced at that time in December 2009. Accordingly, the number of shares in issue is 298,691,705 Ordinary Shares. Application has been made to AIM for admission of the additional Ordinary Share and trading will commence on 22 August 2011.
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Australia and Company enquiries | UK and press enquiries |
Ferrum Crescent Limited Ed Nealon T: +61 419 905 546 Executive Chairman Robert Hair -T: + 61 414 926 302 Company Secretary | Ocean Equities Limited (Broker) Guy Wilkes T: +44 (0)20 7786 4370 Ambrian Partners Limited (Nominated Adviser) Richard Morrison T: +44 (0) 20 7634 4764 Jen Boorer T: +44 (0) 20 7634 4859 |
For more information on the Company visit www.ferrumcrescent.com | Threadneedle Communications Limited Laurence Read/Beth Harris T: +44(0)20 7653 9855 |
Ferrum Crescent
Ferrum Crescent Limited is an Australian company listed on the Australian Securities Exchange (ASX) and the AIM market of the London Stock Exchange.
The Company seeks to capitalise on the future demand for iron and steel worldwide by producing iron products in the Republic of South Africa, for both the domestic and the export markets. Ferrum Crescent will maximise the beneficiation of iron ore product locally in line with the objectives of the Mineral and Petroleum Resources Development Act 2002 (South Africa). During the recent global rush for iron ore resources, South Africa, a relatively under-developed market, has been largely overlooked, prompting Ferrum to identify and pursue opportunities in South Africa.
To that end, the Company has acquired a controlling interest in a South African company that holds the rights to significant iron ore deposits in South Africa. The Turquoise Moon Iron Project consists of two separate iron ore (magnetite) occurrences, the Moonlight Deposit and the De Loskop Prospect. The Moonlight Deposit consists of coarse-grained magnetite-quartz rocks that display the following features which set it apart from comparable magnetite deposits:
·; The ability to produce very high quality concentrates at a coarse grind size;
·; Exceptionally low level of detrimental elements in the concentrates;
·; Near surface mineralisation;
·; Low stripping ratios.
The mineralisation is close to surface and consequently represents a low stripping ratio target with consequential mining cost benefits. The contained iron within the maiden Indicated Resource is sufficient to exceed 20 years' production.
The Company also holds an interest in the De Loskop Prospect, which is located approximately 150k east of Moonlight and only 50k north of Polokwane, the regional service centre.
Duferco SA
Duferco SA is a large and diverse private group that stands as a world leader in the trading, mining, and end use of iron and steel products and raw materials for the steel industry. Revenues of some US$11 billion were reported for 2008.