Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Ferrum Crescent Ltd (FCR)

  Print      Mail a friend

Monday 30 April, 2012

Ferrum Crescent Ltd

Quarterly activities and cashflow report

RNS Number : 2247C
Ferrum Crescent Ltd
30 April 2012

30 April 2012


Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group") (ASX: FCR, AIM: FCR, JSE: FCR)

Quarterly Activities and Cashflow Report

For the period ended 31 March 2012


Ferrum Crescent Limited, the ASX, AIM and JSE quoted iron ore developer in Northern South Africa, today announces its quarterly results for the three month period ending 31 March 2012.




Moonlight Iron Ore Project:


·      Phase 3 of exploration programme completed

Consisting of 11 holes totalling 990m of diamond core drilling and 13 holes totalling 1,600m of reverse circulation (RC) drilling

·     Resource estimate update for the Moonlight iron ore deposit near completion

·     Mining right application process outcome expected within the coming weeks

·     Drilling programme in Julietta and Gouda Fontein farms planned and ready for implementation upon grant of mining right

Aimed to increase in magnetite resource significantly

Report, including the Julietta and Gouda Fontein exploration results and resource estimate, will be completed by end of 2012

·     Agreement reached with local communities to "farm into" preferential prospecting right




·     Cash as at 31 March 2012 is approximately A$4.2m



Moonlight Iron Ore Project


The Company's flagship project, the Moonlight Iron Ore Project (Ferrum Crescent 81.4% and operator), is located on three farms (Moonlight, Julietta and Gouda Fontein) in Limpopo Province, South Africa. It currently has a JORC compliant resource of 74Mt in the Indicated Resource category and 225Mt in the Inferred Resource category at a grade of 30% iron, which is situated entirely within the Moonlight farm. During the December quarter, The Mineral Corporation Consultancy (Pty) Ltd ("The Mineral Corporation") was commissioned to carry out an updated JORC compliant resource estimate taking into account the results of the phase 3 drilling and assays on the Moonlight deposit ("the Report"). Phase 3 consisted of 11 holes totalling 990m of diamond core drilling and 13 holes totalling 1,600m of RC drilling. It is anticipated that the Report, including the Julietta and Gouda Fontein exploration results and resource estimate, will be completed by the end of 2012. The updated Moonlight Resource is expected to be completed by The Mineral Corporation and to be released to the market in the near future.


Further drilling, to be carried out at the Julietta and Gouda Fontein farms adjacent to the Moonlight deposit, will seek to confirm the extension of the magnetite mineralisation from the current resource area on the Moonlight farm, as previously drilled by South African Iron and Steel Industrial Corporation ("Iscor"). Iscor was the South African government-owned integrated iron and steel company which is now owned by ArcelorMittal. It is anticipated that upwards of 10,000m of drilling will be carried out, consisting of both RC and core drilling. The purpose of the drilling is to establish a total resource estimate for the deposit on all three farms. Planning for this drilling programme is well advanced. It is anticipated that a further report, including the Julietta and Gouda Fontein exploration results and resource estimate, will be completed by the end of the calendar year 2012.


In parallel with the exploration work aimed at expanding the JORC compliant resource base, the Company continues to undertake ongoing investigations into development and logistic alternatives for the Moonlight deposit. Whilst such investigations are still at an early stage, the indicatively low strip ratio, high recoveries at a coarse grind size and excellent concentrate grade based on current test work are highly encouraging for potential development economics.


Mining Right Application


As announced in the Company's Half Year Report, Ferrum Crescent's wholly owned subsidiary Turquoise Moon Trading 157 (Pty) Ltd ("Turquoise Moon") has been the holder of the Company's interests in both the Moonlight Deposit and the De Loskop prospect. Turquoise Moon's prospecting right under which it held the Moonlight Deposit and the De Loskop prospect expired on 8th March 2012. The Moonlight Deposit is the subject of the mining right application, covering the farms Moonlight, Julietta and Gouda Fontein.  It is believed that the mining right application process is near completion, and the Company will inform the market as soon as it receives further information thereon.


De Loskop


The De Loskop Prospect is located approximately 150km east of Moonlight and 50km north of Polokwane, the capital of the Limpopo province, South Africa and has the potential for an additional 200 - 1000Mt of iron ore mineralisation with metallurgical characteristics similar to Moonlight. This exploration target is conceptual in nature and there can be no guarantee that further exploration will result in the definition of JORC Code compliant Mineral Resources for the prospect.


 In respect of De Loskop, the Group has entered into an agreement with local communities who hold approximately 60% of the area previously the subject of Turquoise Moon's prospecting right, whereby the Group will assist those communities to obtain a preferential prospecting right under the Mineral and Petroleum Resources Development Act and the Group will have a right to "farm into" that area (up to an agreed majority percentage) by the carrying out of prospecting activities.


For further information, please visit 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


Ambrian Partners Limited (Nominated Adviser)

Richard Morrison  T: +44 (0) 20 7634 4700

Jen Boorer  T: +44 (0) 20 7634 4700


Newgate Threadneedle (Financial PR)

Graham Herring/Beth Harris  T: +44 (0) 20 7653 9850


South Africa enquiries:

Sasfin Capital

Leonard Eiser  T: +27 11 809 7500


Competent Persons' Statement:


The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Lindsay Cahill, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Cahill is employed by Torbinup Resources Pty Ltd who provide consulting services to the Company and the mining industry. Mr Cahill has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Cahill consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t