Investor Presentation Evening

RNS Number : 1627N

Ferrex PLC

04 September 2013

 



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

4 September 2013

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

Investor Presentation Evening

Ferrex plc, the AIM quoted iron ore and manganese development company focused in Africa, is pleased to announce that it will be presenting at the Proactive Investors One2One Forum in London on Thursday 12 September 2013 at 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 advances its portfolio of low-capex iron ore and manganese assets in Africa, which are close to established infrastructure, and offer near-term value uplift through rapid resource and mine development, up the development curve and into production.

To register a place at the Proactive Investors One2One Forum, please click on the following link: http://www.proactiveinvestors.co.uk/register/event_details/201.  

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

**ENDS**

For further information and the full Admission document 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 to be developing Nayega during 2013.  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.   The Company anticipates that cash generated from production at Nayega will be used to assist in the future funding of development at its additional projects.  

In parallel with this, Ferrex is focussed on proving up resources at its Mebaga concession in Gabon. A recent review has calculated an exploration target of 90 to 150mt @ 35 to 65% Fe (Oxide target) and 550mt to 900mt @ 25% to 40% Fe (Primary target) for Mebaga. The Oxide target will comprise both DSO* and bBSO* material.  Ferrex has full access to the BRGM records and plans to produce a JORC resource and Scoping Study before the end of 2013 at which time it will apply for a Mining Licence. A 3,000m drill program is currently underway.

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.  Conceptually, cash generation from Nayega and Mebaga will be utilised to obtain finance for Malelane once again limiting share dilution.

Ferrex has 805m shares on a fully diluted basis. The Directors have subscribed for and purchased approximately 32% of the issued share capital of the Company and are thus aligned with shareholders interests.

 

END

 

 

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