Next Thursday we would be delighted if you could join us in Mayfair to hear from four fantastic resource companies - Mandalay Resources (TSE:MND) Caledonia Mining (LON:CMCL) Stellar Diamonds (LON:STEL) Oracle Coal (LON:ORCP)
Each oversees very different projects but all four are united by their exciting and significant progress.
To ensure you don't miss out on the event on December 4, secure your place HERE.
Oracle Coal has taken huge strides forward at its landmark Thar coal and power development in Pakistan. The plan remains to build a 4.2 million tonnes per year mine coupled with a 600 megawatt power plant at a combined cost of US$1.3 billion.
A framework agreement with SEPCO, one of China’s leading contractors, and backed by Sinosure, will cover construction and 85% of the build costs. However, Oracle needs to add the final piece of financing to get the ball rolling. With the country so short of power and growing rapidly, Oracle has the full support of the Pakistan government. Chief executive Shahrukh Khan will join us to update on progress.
Mandalay Resources has been a strong performer this year as its status as one of the few dividend-paying junior miners has marked it out from rivals. Success has been built on the hugely successful Costerfield and Cerro Bayo gold and silver mines. Both were bought cheap and developed into great opportunities - a trick Mandalay hopes to repeat with its recent Challacollo and Elgin acquisitions.
Development plans are already being rolled into place for these two and chief executive Brad Mills will join us to explain more about the potential here and also for further growth at the two flagship operations.
Caledonia Mining aims to build on its recent success by doubling production at the Zimbabwe-based Blanket gold mine. Expansion will cost US$70mln. A recent review indicated other opportunities outside Zimbabwe did not offer anywhere near the potential of digging deeper at the historic site. Blanket has already been through the indigenisation process and is forecast to produce 40,000 ounces of gold this year. Output will rise to around 80,000 ounces following the additional investment at a very low cost per ounce compared to other similar-sized gold mines.
All of the capital expenditure will be funded from internal cash flows while Caledonia will keep paying a dividend in 2015. Chief financial officer Mark Learmonth will join us to explain the case for expansion.
Stellar Diamonds has exceeded all expectations from trial mining at the Baoulé kimberlite pipe in Guinea. First ore processed yielded 196 carats in total, or 17 carats per hundred tonnes and well above the minimum expected grade of 13 carats per hundred tonnes.
The miner also pulled out a number of large stones including two meaty-sized 5.5 and 5.1 carat diamonds. Overall, half of the diamonds found were of gem quality. The first export of stones is expected to take place next month and with an estimated diamond value of around US$200 a carat, brokers are tipping Baoulé to become a significant cash flow generator for Stellar. Chief executive Karl Smithson will talk us through what is happening at Baoule and also update on progress towards a bankable feasibility study at Tongo in Sierra Leone.
The evening will end with a complimentary bar and an assortment of hot & cold canapes, giving you the opportunity to speak with the directors and other investors.
Please join us at 5:45pm to allow for a prompt 6pm start. Each company has around 30 minutes to give a short presentation and for Q&A. This will be followed by the 'Champagne Raffle' where four guests will win a bottle each. The evening will end with a drinks reception with canapés.