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FERRUM CRESCENT LIMITED - Investor presentation to coincide with the Indaba Mining Conference

Release Date: 08/02/2013 09:00
Code(s): FCR     PDF:  
Wrap Text
Investor presentation to coincide with the Indaba Mining Conference

FERRUM CRESCENT LIMITED
(Previously Washington Resources Limited)
(Incorporated and registered in Australia and registered
as an external company in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR
ISIN: AU000000FCR2
(“Ferrum Crescent”)



INFRASTRUCTURE AND BENEFICIATION ROUTE INVESTOR
PRESENTATION


Ferrum Crescent Limited, the ASX, AIM and JSE quoted iron
ore developer in Northern South Africa, today announces
that it has released to its website
(www.ferrumcrescent.com) a new investor presentation to
coincide with the Indaba Mining Conference in Cape Town,
South Africa.


The presentation provides a summary of the Company’s
progress to date and highlights important aspects of its
future plans, being:


Initial scoping financial models of the entire project
indicate an attractive business case which encourages the
company to progress completion of a bankable feasibility
study over the next 12 to 18 month period with a view to
construction commencing in 2015 with completion during the
end of 2017/early 2018
It is anticipated that Moonlight will be developed as a
contract, open-pit mine with on-site concentrate
production. A slurry concentrate pipeline is to be built
to transport concentrate to a pelletising plant near
existing railhead, with return water to Moonlight (100 -
220km); current preferred sites are either at Lephalale or
Thabazimbi. The pelletising plant to produce 6Mtpa of iron
ore pellets (68.5% Fe) for international and domestic
markets is planned with a production of both direct
reduction iron and blast furnace grade pellets.


An offtake agreement for the final direct reduction and/or
blast furnace pellet product has been entered into with
Duferco SA
Exclusively for first 4.5 million tonnes of anticipated
pellet production with first right of refusal to Duferco
for an additional 1.5 million tonnes per year to extent
pellets not sold domestically


Transnet, Eskom   and other essential infrastructure
provider plans progressed towards completion of BFS


Updated revised JORC compliant resource at the Moonlight
Iron Ore Project of 307.8 million tonnes (Mt) @ 26.9% Fe;
made up from
172 Mt in the Inferred category at a grade of 25.3% Fe
83 Mt in the Indicated category at a grade of 27.4% Fe
52 Mt in the Measured category at a grade of 31.3% Fe


A New Order Mining Right registered covering the farms
Moonlight, Julietta and Gouda Fontein
All MPRDA requirements met under South African law,
including environmental and social and labour plans
Full Environmental Impact Assessment (including 17
externally contracted specialist studies) submitted in
July 2011 and approved by the DMR
Ed Nealon, Executive Chairman said: “The beginning of 2013 sees us able to focus on final
discussions regarding the development of an open pit mine at Moonlight and a logistics pipeline to
a pellet plant able to produce a sought after high grade iron ore product for our customers. The
work the team has carried out on infrastructure negotiations over the last six months since
receiving our final mining licences has moved Ferrum forward significantly towards this aim.”


For more information, please visit www.ferrumcrescent.com
or contact:


Australia and Company enquiries:
Ferrum Crescent Limited
Ed Nealon         T: +61 8 9380 9653
Executive Chairman


Bob Hair        T: +61 414 926 302
Managing Director


UK enquiries:
Ocean Equities Limited (Broker)
Guy Wilkes         T: +44 (0) 20 7786 4370


RFC Ambrian Limited (Nominated Adviser)
Richard Morrison             T: +44 (0) 20 3440 6800
Jen Boorer         T: +44 (0) 20 3440 6800


Ferrum Crescent Limited
Laurence Read (UK representative)
T: +44 7557672432


South Africa enquiries:
Sasfin Capital
Leonard Eiser           T: +27 11 809 7500


About Ferrum Crescent
Moonlight Project Overview
The Moonlight Project is currently undertaking a BFS to
establish the development of a deliverable, low cost
magnetite ore project in Limpopo Province South Africa that
produces a high grade, low impurity pellet product
following beneficiation. The current established to JORC
standard resource at 307.8 million tonnes is capable of
sustaining operations in excess of 20 years,


It is anticipated that the Moonlight Project will be
developed as a contract, open-pit mine with onsite
concentrate production. A slurry concentrate pipeline to a
pelletising plant near railhead will be created, with
return water to Moonlight (100 - 220km); current preferred
sites are at Lephalale or Thabazimbi. A pelletising plant
to produce iron ore pellets (68.5% Fe) for international
and domestic markets is planned with production at 6Mtpa
DRI and BF pellets mainly for the export market.


8 February 2013
Johannesburg


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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