Last checked at 17 Nov 2015 16:45
Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining
17 November 2015
Ferrex plc ('Ferrex' or 'the Company')
Shareholder Call
Ferrex plc, the AIM quoted resource development company, is pleased to announce that it will hold a shareholder call on Wednesday 18 November 2015 at 11.00am.
During the call Dave Reeves will update participants on today's news that the Company has acquired 100% of Australian private company Chaffers Mining ('Chaffers'), which has negotiated a five year tribute agreement with Paddington Gold, a subsidiary of Norton Gold Fields ('Norton') to mine certain defined gold deposits located on the Norton leases for treatment at Norton's nearby Paddington processing plant.
To participate in this conference call, please dial 0808 109 5644, or +44 (0) 20 8322 2500 if you are calling from outside of the UK, and type in 2950614 followed by the hash key for the access pin. Please note that all lines will be muted with the exception of Dave Reeves', however the Company invites shareholders to submit questions to its public relations advisers, St Brides Partners Ltd, ahead of the call via email to shareholderenquiries@stbridespartners.co.uk. St Brides Partners will acknowledge receipt of shareholder enquiries to that address via email, and in the case that a response from St Brides Partners is not received, please re-send the questions to the email address or call +44 (0) 20 7236 1177. All shareholder enquiries must be received by 10.30am. The management team will strive to answer as many of these previously submitted questions as possible during the course of the call.
A presentation will be made available during the call. To view the presentation online, please go to https://members.meetingzone.com/presenter/default.aspx?partCEC=2950614&b=1dd933bf-7a7f-4280-989c-50b91ae1d9fb and log in as a participant using the access pin 2950614# but please note that it will only be made live once the call has commenced. The corporate presentation will be made available on the Company's website, www.ferrexplc.com, following the call.
Unfortunately the online presenter programme is not compatible with iPads and iPhones. If you have any problems accessing the call, please contact St Brides Partners Ltd on shareholderenquiries@stbridespartners.co.uk or on the telephone number +44 (0) 20 7236 1177.
**ENDS**
For further information visit www.ferrexplc.com or contact the following:
Dave Reeves | Ferrex plc | dave@ferrexplc.com +44 (0)20 7220 0500 |
Nominated Adviser |
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William Vandyk/David Hignell | Northland Capital Partners Limited | +44 (0) 20 7382 1100 |
Broker | ||
Elliot Hance/Jonathon Belliss | Beaufort Securities Limited | +44(0)20 7382 8415 |
Financial PR |
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Felicity Winkles/ Elisabeth Cowell | St Brides Partners Limited | +44 (0) 20 7236 1177 |
Notes
Ferrex plc is an AIM quoted, resource development company. The Company is focussed on advancing lowest quartile, low capex deposits which benefit from proximal established infrastructure up the development curve and into production. Ferrex plans to commence production at its Australian Gold Project in Q2 2016 and then use this cashflow to develop the Nayega Manganese Project within nine months of securing the mining permit for the Project.
At Nayega, Ferrex has concluded a Bankable Feasibility Study and expects award of the mining permit in 2015. The Bankable Feasibility Study indicates that Nayega could produce 250,000 tonnes per year of manganese concentrate at 38%. The company is focussed on bringing the mine into production on grant of the mining permit as soon as possible to generate cashflows for the Company.
The Company also holds iron ore and manganese projects in Gabon and South Africa and is actively assessing ways to realise value from these assets.
Ferrex has 1,100,794,390 shares in issue. The Directors have subscribed for and purchased approximately 25.4% of the issued share capital of the Company and are thus aligned with shareholders' interests.