FERRUM CRESCENT LIMITED - Update re Moonlight Projects BFS Phase I

Release Date: 16/01/2017 09:00
Code(s): FCR
 
Wrap Text
Update re Moonlight Project’s BFS Phase I

FERRUM CRESCENT 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
Australian ISIN: AU000000WRL8
South African ISIN: AU000000FCR2



16 January 2017

                                        Ferrum Crescent Limited
                 (“Ferrum Crescent”, the “Company” or the “Group”)(ASX, AIM, JSE: FCR)

                                    Update re Moonlight Project’s BFS Phase I


Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that, with
regard to the farm-in and joint venture agreement (the “Agreement”) with Business Venture
Investments No. 1709 (Proprietary) Limited (“BVI”), first announced on 14 October 2015, for the
production of a bankable feasibility study (“BFS”) for the Company’s Moonlight Iron Project in
Limpopo Province, northern South Africa (the “Moonlight Project”), BVI has not completed Phase I
of the BFS in accordance with the terms of the Agreement and the extended deadline of 12
January 2017.

The Company, while reserving its rights under the Agreement, is in ongoing discussions with BVI
and is considering its options in relation to the potential development of the Moonlight Project. The
Company will keep the market informed of material developments going forward as appropriate.

For further information on the Company, please visit www.ferrumcrescent.com or contact:

Ferrum Crescent Limited
Justin Tooth, Executive Chairman
Grant Button, Director and Company Secretary                           T: +61 8 9474 2995

UK enquiries:
Laurence Read (UK representative)                                      T: +44 7557 672 432

Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler                                           T: +44 (0)20 7409 3494

Beaufort Securities Limited (Broker)
Elliot Hance                                                           T: +44 (0)20 7382 8300

Bravura Capital (Pty) Ltd (JSE Sponsor)
Doné Hattingh                                                          T (direct): +27 11 459 5037

The information contained within this announcement is deemed by the Company to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

Date: 16/01/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story