Proactive Investors Presentation Evening 16.10.14

RNS Number : 3177U

Ferrex PLC

15 October 2014

 



Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining

15 October 2014

Ferrex plc ('Ferrex' or 'the Company')

Investor Presentation Evening

Ferrex plc, the AIM quoted manganese and iron ore development company focused in Africa, is pleased to announce that it will be presenting at the Proactive Investors One2One Forum in London on Thursday 16 October 2013 from 6.00 p.m. at at the Chesterfield Mayfair Hotel, 35 Charles Street, London, W1J 5EB. 

The Company's Managing Director, Dave Reeves, will give a presentation at the event outlining the Company's growth strategy as it focusses on advancing its Nayega Manganese Project in Togo to develop a low-cost 250,000 tonnes per annum, 38% marketable manganese product open-pit mine in the near-term, and an in-country smelting facility to produce a valuable High Carbon ('HC') Ferromanganese alloy in Togo in the medium-term. 

The presentation will also update investors on the Company's additional iron ore and manganese assets in Africa, which are close to established infrastructure, and offer the potential for near-term value uplift through defined exploration and development programmes and joint venture opportunities.

To register a place at the Proactive Investors One2One Forum, please click on the following link:

http://www.proactiveinvestors.co.uk/register/event_details/251 

Following the event, the presentation will be made available on the Company's website  at www.ferrexplc.com 

**ENDS**

For further information visit www.ferrexplc.com or contact the following:

Dave Reeves	Ferrex plc	+ 61 (0) 420 372 740
finnCap		[phone]
Elizabeth Johnson / Joanna Weaving	Broking
Matthew Robinson / Ben Thompson	Corporate Finance
Felicity Edwards/ Elisabeth Cowell	St Brides Media and Finance Ltd	[phone]

Notes

Ferrex plc is an AIM quoted, leading iron-ore and manganese exploration and development company in Africa.   The Company is focussed on advancing low capex deposits, which benefit from proximal established infrastructure, up the development curve and into production. Ferrex has a solid portfolio of assets including three primary projects: Nayega Manganese Project in Togo ('Nayega'), Mebaga Iron Ore Project in Gabon ('Mebaga'), and Malelane Iron Ore Project in South Africa ('Malelane').

At Nayega, Ferrex is currently conducting a Bankable Feasibility Study and expects award of the mining permit in 2014.  A Scoping Study indicates that Nayega could produce 250,000 tonnes per year of manganese concentrate at 38% with an initial capital expenditure of under $15m.   A Scoping study on a ferro manganese plant in Togo has also been concluded and shows a lowest quartile operation with robust economics. The company is focussed on bringing the mine into production on grant of the mining permit whilst advancing the ferro manganese studies.  

In parallel with this, Ferrex is focussed on proving up resources at its Mebaga concession in Gabon. A recent review has lead to the estimation of an exploration target comprising 90 to 150Mt @ 35 to 65% Fe (oxide target) and 550 to 900Mt @ 25% to 40% Fe (primary target) for Mebaga. The Oxide target will incorporate both DSO* and bBSO* material. Ferrex has recently completed an initial drill programme at Mebaga that has intersected significant widths of DSO and bBSO mineralisation.

The Company also holds the Malelane Iron Ore concession in eastern South Africa. A Scoping Study on Malelane has demonstrated its potential to produce 1.8Mtpa of beneficiated ore per year, with initial capital expenditure of $139m, a payback of 1.9 years, a Net Present Value of US$523m (10% discount rate) and a 16.6 year life-of-mine. 

Ferrex will have 934M shares on the conclusion of this placement on a fully diluted basis. The Directors have subscribed for and purchased approximately 28% of the issued share capital of the Company and are thus aligned with shareholders interests.

 

END

 

 

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