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Metals of Africa Limited (MTA)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Metals of Africa
Metals of Africa Limited (“MTA”, “The Company” successfully listed on the ASX in October 2012 and is seeking to become a world’s best, low cost supplier of high grade spherical graphite for the Lithium-ion battery market.
Li-ion storage batteries capture renewable energy and power electric vehicles. These green technologies are driving the surge in spherical graphite demand, as it is a critical majority component of Lithium (Li) ion batteries. This demand is expected to grow by approximately 40% per annum, assisted by global policies that encourage electric vehicles and green energy initiatives that rely on Lithium-ion battery storage units.
The Company’s focus towards graphite commenced with a drilling program in December 2014 for the Montepuez Central graphite project and more recently at Balama Central project in December 2015. These successful campaigns delineated two world class maiden resources in the Cabo Delgado province Mozambique, East Africa.
The company has focused on quality over large scale resources:
- Montepuez 6 Mt @ 10.3% total graphitic carbon (‘TGC”) and 0.26% V2O5 for 6.3 Mt of contained graphite and 163kt of V2O5 (6% TGC cut-off); the resource remains open along strike and at depth.
- Balama Central 3Mt at 10.4% TGC and 0.21% V2O5 for 1.7Mt of graphite and 34 kt of V2O5 (6% TGC cut-off drilled over 4 weeks). Exploration Target of 43-78Mt at 9-13% TGC.
MTA completed a very positive Conceptual Study in February 2016, (based on the Montepuez Central Graphite Project), which demonstrated scope for the lowest quartile Operating costs together exceptional quality graphite. The outcomes of which are expanded in the Montepuez Project overview.
The Company’s objectives, have been supported with in the invitation to combine with some of Canadian’s most advanced graphite owners and researchers to acquire a test mill in the United States to produce spherical graphite for global testing by battery manufacturers.
This facility will seek to differentiate itself from alternative suppliers, by demonstrating that it can ethically mine and manufacture spherical graphite, processed in USA. Currently the only large scale spherical graphite facilities are located in China.
The Company is concurrently progressing negotiations with key global enterprises in respect to product offtake.
Montepuez Central Graphite Project
MTA has successfully completed a Conceptual Study that delivered a range of exceptional result. Details were released on the ASX platform on 10 February 2016, using the maiden JORC Resource for Montepuez, completed in December 2014. The study, including conceptual mine plan and preliminary economic analysis, was completed by RungePincockMinarco.
Detailed below is highlights from the Montepuez Central Concept Study.
- Results from Concept Study at Montepuez Graphite Project are robust and will feed into Pre-Feasibility Study anticipated by Q3 2016
- Proposed 100,000t concentrate per year production
- Capital cost estimate of US$166m (+20% contingency)
- Capital cost figure includes spherical graphite plant (US$80m)
- 60 year life of mine (LOM), low 2.2:1 strip ratio
- Very low OPEX for both flake and spherical graphite products
- US$300/t OPEX for large-jumbo flake graphite product
- US$3500/t OPEX for coated spherical graphite product
- Significant cost improvement opportunities continuing to be assessed
- Favorable deposit characteristics position project for fast-track to mining
- Discussions and detailed test work with potential offtake parties progressing
- Project finance discussions underway
The Concept Study including conceptual mine plan and preliminary economic analysis was completed by RungePincockMinarco. And was completed to an accuracy of +/- 40%.
Balama Central Graphite Project
Maiden Mineral Resource at Balama Central Project in Mozambique of 16.3Mt at 10.4% TGC and 0.21% V2O5 for 1.7Mt of contained graphite and 34kt V2O5.
Indicated Mineral Resource: 8.9Mt at 9.3% TGC and 0.16% V2O5
Inferred Mineral Resource: 7.4Mt at 11.8% TGC and 0.27% V2O5
Exploration Target of 43-78Mt at 9-13% TGC also confirmed – highlighting the Project’s upside potential. Maiden resource defined in <4 week drill program.
Key features of the Mineral Resource:
Mineral Resource includes a high grade (>18% TGC) zone from surface
- Over 50% by volume of Mineral Resource is large or jumbo flake size
- Positive, very friable/soft nature of material
- MTA is completing a Concept Study and will proceed to a Pre-feasibility Study (“PFS”) based on a mine life of at least 10 years
- PFS metallurgical work has commenced
- Off-take discussions are ongoing with end users
- MTA focus remains on becoming a low-cost producer of high quality natural flake graphite
The Mineral Resource comprises an:
- Indicated JORC Mineral Resource of 8.9Mt at 9.3% TGC and 0.16% V2O5 for 836kt of graphite and 14kt V2O5; and an
- Inferred JORC Mineral Resource of 7.3Mt at 11.8% TGC and 0.27% V2O5 for 863kt TGC and 20kt V2O5.
Krossou Zinc Project
Metals of Africa Limited identified high grade lead and zinc from its ongoing exploration program at the Kroussou Project in Gabon.
Laboratory grades of up to 9.69% Zinc and 33.10% Lead with elevated copper and silver have been returned from the first batch of rock samples taken from a rock chip sampling program of surface outcrop at the project, in October 2014.
These results are significant and are the highest known lead and zinc grades ever reported in Gabon.
The Company has also discovered additional outcropping zinc and lead prospects, over a distance of more than 50km, and laboratory assay results for samples from this work are expected to be available in May 2015.
The laboratory results confirm that the Kroussou Project is a highly prospective lead-zinc mineralised system. The rocks were sourced from outcrops at the Kroussou and Dikaki prospects which outcrop for 3km and 1km respectively.
The flat lying mineralised beds range in thickness with outcrops observed up to 5m thick.
Mineral petrology study, comprising thin section work of eight Kroussou rock samples shows significant sulphide mineralogy, dominated by low iron sphalerite (zinc), galena (lead) as well as associated copper sulphide minerals such as chalcopyrite. Based only on early stage petrology of the lead and zinc minerals, the Company is of the view that a simple beneficiation process may be possible resulting in an anticipated high value concentrate product.
Current Works Program
Metals of Africa has completed a detailed mapping program at the Kroussou Project. The Company’s works program remains on schedule and it is currently compiling field results from this work, which will include another batch of outcropping rock samples for laboratory analysis. Results are expected in May 2015.
The mapping program has targeted identification of the Cretaceous geological contact over the 85km length of the Kroussou license. It aimed at identifying additional prospective lead-zinc mineralised prospects within the project areaAdditional mineralised prospects have been confirmed over a distance spanning more than 50km, along strike of the Dikaki prospect.
Metals of Africa Limited
945 Wellington street
West Perth, WA
+61 8 9322 7600
Fax: +61 8 9322 7602
The General Overview, Services, Products and Projects information for this profile was last edited on 20 Apr 2016.