Metals of Africa Snapshot
Metals of Africa Limited (ASX:MTA) is an Australian resources company, focused on graphite and zinc, with the objective of creating shareholder wealth via the discovery and development of mineral deposits.
The Montepuez Project (Mozambique)
High Grade Graphite Discovery in Mozambique
• Assays confirm a significant new graphite discovery at the Montepuez Central Project
• High grade, near surface graphite intersection confirmed at Buffalo Prospect – 59m @ 9.60% TGC and 0.12% V from 34m, including up to 33.8% TGC and 0.26% V.
• High grade intersection remains open in all directions.
• Encouraging assays from drill holes in central and southern zones.
• Main VTEM target extending more than 5 km remains untested – to be drilled Q2 2015.
• Flake size generally large – ranging from fine to jumbo and averaging >0.1mm (large to jumbo).
• Assays from the remaining 18 holes will be provided when received.
• Drilling to recommence in Q2 to define a cost efficient JORC Resource.
Metals of Africa Limited (ASX: MTA) is pleased to announce a major new graphite discovery at its 100% owned Montepuez Central Project in the world class Cabo Delgado graphite province in Mozambique.
The Company has received the first batch of laboratory assay results, for 3 of 21 holes, from its recently completed maiden diamond drilling program at the Montepuez Project.
Results include a significant, near surface graphite intersection of; 145.59m @ 9.60% Total Graphitic Content (TGC) and 0.12% Vanadium (V) from 34m, including 1m @ 33.8% TGC and 0.26% V from 140m, in drill hole 007 at the Buffalo Prospect in the northern area of the project. This drill hole ended in high grade graphite mineralisation and remains open in all directions.
Kroussou Project – Pb-Zn-Ag-Ba-Cu (Gabon)
• Metals of Africa has confirmed very high-grade lead-zinc mineralisation at the Kroussou Project in Gabon.
• Results include grades up to 9.69% Zn and 33.1% Pb.
• Results come from laboratory assay results from a rock chip sampling program at the project.
• The results are the highest ever lead-zinc grades reported in Gabon.
• The results confirm the Kroussou Project as a highly prospective lead-zinc mineralised system.
• Thin section analysis shows coarse grained and inclusion-free lead and zinc which is an encouraging indicator for simple beneficiation.
• Further outcropping zinc-lead prospects have been discovered over a 50km area and additional assay results are expected in May.
• All exploration data will be assessed to assist in planning for a 2015 drill program
A pipeline of additional compelling geophysical and geochemical targets
In addition to Metals of Africa’s advanced exploration projects, the Company also boasts a project pipeline of various granted and highly propspective exploration licenses spread across Mozambique, Tanzania and Gabon. These projects are prospective for a range of commodities. Each of the projects were acquired based on the license exhibiting one or more of the following target criteria:
• Significant airborne geophysical anomaly with prospective geology
• Surface geochemical anomaly combined with prospective geology
• Surface mineralisation &/or old workings/former small scale mines
• Highly prospective geology yet poorly explored
• Located in countries of low political risk
MTA is open to JV discussions regarding its non-core assets and believes that that low cost surface exploration is capable of defining world class projects and is committed to demonstrating technical excellence in this field.
With a Masters Degree in Economics from a prestigious Japanese university, Mr. George has a wide range of experience in international business development and management.Formerly a senior bilingual Australian embassy official in Tokyo, he established his own business development consultancy in 1988. He is the principal of Gilbert George & Associates Pty Ltd which has provided strategic advice to companies in Australia, Africa, Japan, the US and Europe and been involved in over $950 million of new investment in Australia, in the resource, IT, food processing and service sectors. Resource experience includes coal iron ore, gold, uranium, oil and heavy mineral sands.He is the current Chairman of Mindax Limited (ASX: MDX) and holds directorships in the following unlisted companies: Bedley Holdings Pty Ltd, Victorian Wave Partners Pty Ltd, Ocean Power Technologies (Australasia) Pty Ltd and Governor Holdings Pty Ltd.
He was formerly a director of Tokyo Gas Australia Pty Ltd and Tepco Australia Pty Ltd – Australian subsidiaries of two of the world’s largest utilities.Mr. George does not expect that his directorships with other companies or other business activities will interfere with his ability to act as Non-Executive Chairman of the Company.Mr. George fulfills the role of an independent director as he is free from any business or other relationship that could materially interfere with, or reasonably be perceived to materially interfere with, the independent exercise of his judgment.
Ms Leeden is a Geologist who has resided in Mozambique for the past two years whilst conducting geological project generation. She has extensive experience in exploration and resource development, across a range of commodities, in Africa, Australasia and the Americas. She has led teams in the discovery and resource development of several base metals, iron ore and coal resources. Previously Ms Leeden has worked for LionOre Mining, Rio Tinto, Strike Resources and Advaita Power Resources, and is non-Executive Director of Select Exploration (ASX:SLT).Ms Leeden has a Bachelor of Science in Applied Geology degree with Honours from the Western Australian School of Mines and is a member of the Australian Institute of Geoscientists.
General Geology Manager of Gabon & Tanzania
Ms Molloy is an Exploration Geologist with 20 years’ experience in a wide variety of commodities. Ms Molloy’s experience includes early stage exploration project generation, resource development, technical due diligence, concept/pre and definitive feasibility studies through to mine development and mine corridor work. Her ccontinental project experience spans Australia, South America and the past 7 years in Africa. Ms Molloy has wworked for a variety of mine and exploration companies including Newcrest Mining, Inmet Mining, Homestake Gold (Barrick), BHP Billiton and Select Exploration.
Mr Cancio-Newton is an Exploration Geologist with 17 years multi commodity experience gained across Australia, Asia and Africa. Mr Cancio-Newton has worked for a variety of majors and mid-tier companies including Barrick, BHP Billiton, LionOre and Newcrest. Since 2006 he has managed projects in Liberia, Guinea, Zambia, New Britain and PNG.
Geographical Information System (GIS) Specialist
Mrs. Nunes joined MTA in 2012 as a GIS specialist. Her work includes the maintenance of MTA’s license database, updating the company’s archive of national license tenures and the consolidation of various tiers of geological and geophysical information for mapping and analysis. Together with the Country Director, Mrs. Nunes ensures the legal compliancy of MTA’s operations under the National Mining Laws and related regulations and oversees the submission and processing of license applications.Prior to working with MTA, Mrs. Nunes worked as a GIS specialist for Gondwana – Mozambique’s foremost geological service provider as a GIS specialist, which encompassed geographical database management for over 30 companies. Her professional experience of mapping includes a scholarship in the GIS department of the United Nations (World Food Programme) in Maputo, in which she analysed risk and vulnerability data from field-surveys to produce guidance maps.Mrs. Nunes is a part-time lecturer of Geography at the University of Eduardo Mondlane in Maputo.
Bangun Maruli Napitupulu
Mr. Maruli has been involved with the Company since its inception in 2012 as Senior Geologist & GIS Specialist and joined the Company in a full time capacity during the acquisition of Express Resources in July 2013.
Mr. Maruli has experience in multiple commodities and spent the past 2 years working on project generation across Mozambique and Tanzania for Express Resources. Prior to joining Express Resources, Mr. Maruli spent 7 years working in exploration and resource development in Indonesia and Australia. Whilst working in Indonesia, Mr. Maruli was employed by GMT Indonesia, one of Indonesia’s largest Mining & Exploration consultancies. Mr. Maruli has been instrumental in the discovery of numerous greenfield coal deposits located in Indonesia. Mr. Maruli acts as a geological mentor to the Company’s Mozambican geologists and geotechnicians.
Mr. Maruli holds a Bachelor of Science in Geology from Padjadjaran University – Indonesia.
Chief Financial Officer
Mr. Ouana has been working with Metals of Africa since its incorporation as Chief Financial Officer, a role in which he manages all in-country accounts as well as supporting external auditing requirements. Mr. Ouana has been working in the financial sector in Mozambique since 2007 and is MTA’s principle interface with the Ministry of Finance and Ministry of Commerce. His broad range of skills, which include legal fiscal management, commercial regulatory practice, national tax compliancy and transparency, underpins MTA’s national compliancy standards. Mr. Ouana matches MTA’s operational requirements with reliable financial deliverables. Having worked in several commercial spheres in upper management, Mr. Ouana also provides mentoring and leadership for all staff within MTA’s provincial offices.
|Rank||Name||Units||% of Units|
|1.||TRANSORE INTERNATIONAL (FZE)||7,687,311||5.94|
|2.||CORNELA PTY LTD||3,575,950||2.76|
|3.||MR JASON PETERSON & MRS LISA PETERSON||2,400,000||1.86|
|4.||CELTIC CAPITAL PTY LTD||2,326,624||1.80|
|5.||JB TORO PTY LTD||2,205,697||1.70|
|7.||AZORES OVERSEAS INC||1,954,643||1.51|
|8.||DRINA CAPITAL CORPORATION||1,867,479||1.44|
|9.||ANGLO ARABIAN CORPORATION||1,851,542||1.43|
|11.||ROCHAS RESOURCES LIMITED||1,700,720||1.31|
|12.||EQUITY TRUSTEES LIMITED||1,666,667||1.29|
|13.||BOUSSAL PTY LTD||1,518,949||1.17|
|14.||MR GILBERT CHARLES GEORGE & MRS BROOKE SAMANTHA GEORGE||1,506,000||1.16|
|15.||HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED||1,492,000||1.15|
|16.||MR JASON PETERSON & MRS LISA PETERSON||1,450,000||1.12|
|17.||AKSHAY INVESTMENTS LIMITED||1,327,731||1.03|
|18.||FCG NOMINEES PTY LTD||1,300,000||1.00|
|19.||RIGI INVESTMENTS PTY LIMITED||1,281,078||0.99|
|20.||CELTIC CAPITAL PTY LTD||1,277,981||0.99|
|Total Top 20 holders of Ordinary Fully Paid Shares||42,239,581||32.65|
|Total Remaining Holders Balance||87,138,446||67.35|
|Rank||Name||Units||% of Units|
|1.||CELTIC CAPITAL PTY LTD||4,900,000||8.47|
|2.||CORNELA PTY LTD||2,681,962||4.64|
|3.||JETOSEA PTY LTD||2,067,000||3.57|
|4.||DRINA CAPITAL CORPORATION||1,400,609||2.42|
|5.||MR ROBERT NEIL GEORGE & MRS NOELA HELEN GEORGE||1,355,000||2.34|
|6.||ROCHAS RESOURCES LIMITED||1,275,500||2.20|
|7.||FCG NOMINEES PTY LTD||1,110,000||1.92|
|8.||MR TIMOTHY PETER CRUSE & MS AMANDA EDWINA CRUSE||1,000,000||1.73|
|9.||HSBC CUSTODY NOMINEES (AUSTRALIA LIMITED – A/C 2||1,000,000||1.73|
|10.||MR GILBERT CHARLES GEORGE + MRS BROOKE SAMANTHA GEORGE||941,250||1.63|
|11.||HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED||900,000||1.56|
|12.||ZIZIPHUS PTY LTD||825,000||1.43|
|13.||RJ WADE PTY LTD||800,000||1.38|
|14.||CATL PTY LTD||750,000||1.30|
|15.||DARONLYN PTY LTD||750,000||1.30|
|16.||MARIS AFRICA FUND LP||748,924||1.29|
|17.||J P MORGAN NOMINEES AUSTRALIA LIMITED||748,387||1.29|
|18.||AKSHAY INVESTMENTS LIMITED||736,990||1.27|
|19.||MR GILBERT CHARLES GEORGE||702,958||1.21|
|20.||GOLD VAULT INTERNATIONAL PTY LTD||700,000||1.21|
|Total Top 20 holders of Listed Options ($0.15, 07/01/2017)||25,393,580||43.89|
|Total Remaining Holders Balance||32,460,816||56.11|
Last updated 16th June 2015.
Registered Office & Principal Place of Business
945 Wellington Street,
Western Australia 6005,
T +61 8 9322 7600
F 61 8 9322 7602
PO Box 1263
WEST PERTH WA 6872
Edificio Solar das Acacias,
Avenida Julius Nyrere 4000,
Lojas 05 ae 06,
Cidade de Maputo,
T +258 214 937 33
Email: [email protected]
Gilbert George – Non-Executive Chairman
Cherie Leeden – Executive Director
Grange Consulting Group
945 Wellington St
West Perth WA 6005
Level 4, Next Building
16 Milligan Street
Perth WA 6000
BDO Kendalls Audit + Assurance (WA) Pty Ltd
38 Station Street
Subiaco WA 6008
Computershare Investor Services Pty Ltd
Level 2, 45 St Georges Terrace
PERTH WA 6000
Tel (Australia): 1300 850 505
Tel (International): +61 (0)3 9415 4062