MOD RESOURCES LIMITED ASX RELEASE 24 APRIL 2015
MOD RESOURCES LIMITED (ASX: MOD)QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDED 31 MARCH 2015
HIGHLIGHTS Mahumo Copper/Silver Project
Mahumo Stage One Resource announced 25 March 2015. Resource well above MOD's target
Stage One Resource is 2.68M tonnes @ 2.0% Cu and 50g/t Ag (at 1.0% Cu cut-off)
Includes substantial, high grade silver content with ~ 4.3Moz Ag in resources
Majority of resource (84%) is in high confidence Measured and Indicated categories
Mahumo is completely open below current limit of drilling along 2.4km strike length
Stage One scoping study is evaluating open pit and underground mining options
First results from sulphide flotation optimisation study expected in early June
Discussions progressing for potential on-site processing, offtake and feasibility funding
$600k successfully raised by an underwritten share purchase plan to fund scoping study
March Q program completed at costs substantially below comparative Australian rates
Figure 1: 2.4km long section of Mahumo showing Stage One Mineral Resource outline
MOD Resources Limited ABN 78 003 103 544 | First Floor, 1304 Hay Street, West Perth WA 6005 | PO Box 1927, West Perth WA 6872
ASX code: MOD | T +61 (8) 9322 8233 | F +61 (8) 9322 8077 | E administrator@modresources.com.au | www.modresources.com.au
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MAHUMO PROJECT (MOD 100%)
The Board of MOD Resources Ltd ("MOD" or the Company) is pleased to announce excellent progress at the
100% owned Mahumo Copper/Silver Project in Botswana during the March quarter. The Stage One drilling program was completed in early March and a mineral resource well above MOD's target (2.0M tonnes @ 1.8% Cu and 45g/t Ag) was announced on 25 March 2015. Work at Mahumo to date has been completed to a high standard and at a cost substantially below Australian rates.
The Stage One resource has a copper equivalent grade of ~2.5% CuEq which MOD understands is the highest announced grade for a copper/silver deposit in Botswana. The resource includes 50g/t silver (approximately 3 times the average silver grade of other announced resources in the Kalahari Copper Belt).
Total Resources @ Cu 1.0% cut-off | ||||||
JORC Category | Tonnes | Cu% | Ag g/t | CuEq% | Cu Tonnes | Ag Ounces |
Measured | 518,000 | 1.93 | 48.8 | 2.37 | 10,000 | 813,000 |
Indicated | 1,726,000 | 1.87 | 48.0 | 2.30 | 32,280 | 2,660,000 |
Inferred | 433,000 | 2.52 | 57.4 | 3.03 | 10,900 | 800,000 |
Total | 2,677,000 | 2.00 | 50.0 | 2.44 | 53,180 | 4,273,000 |
Table 1: Mahumo Stage One Mineral Resources
Note: CuEq estimate used at 25 March 2015 = Cu% + (Ag g/t * 0.009)
The Mineral Resource estimate was based on drilling completed by MOD in 2011/2012 and 2014/2015 along
2.4km strike length at Mahumo (Figure 1). All drill holes used in the resource estimate were HQ and NQ diamond core and the Mineral Resource is reported using a 1.0% Cu cut-off grade. The resource estimate was prepared by an independent and experienced resource consultant geologist in South Africa, Mr Awie Pretorius of Sphynx Consulting CC.
Approximately 84% of the Stage One resource is in the high confidence Measured and Indicated Resource categories (Table 1). These categories are generally related to areas with higher drilling density confirming continuity of mineralisation between drill holes.
The 500m long West Zone deposit includes the highest density of drilling at Mahumo and has been the focus of drilling since September 2014 (Figure 2). High grade copper-silver mineralisation at West Zone appears continuous from shallow depth (15-25m) to the current limit of drilling (~500m depth). The deepest hole at Mahumo (MO-147-D) intersected high grade mineralization (4m @ 2.6% CuEq) approximately 200m below previous intersections. West Zone is open at depth and down plunge to the east of the current resource.
The majority of drilling at the 1300m long Central Zone and 600m long East Zone extends to a maximum depth of ~250m (Figure 1). During the March quarter, MOD completed one deeper drill hole (MO-143-D) on the margin of the Central Zone. MO-143-D intersected 2.2m @ 1.9% CuEq (including 1m @ 2.1% Cu and
MOD is currently preparing a drilling program (Stage Two) proposed to test the potential for high grade resource extensions below the West Zone, Central Zone and East Zone.
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Scoping Study
Due to the high grades and excellent continuity of the Stage One resource, MOD is proceeding with a scoping study to evaluate the commercial viability for potential mining and ore processing at Mahumo. South African based Ridgeback Mining Services have been contracted to complete the mining and financial modelling component of the scoping study. Discussions are progressing with another group to provide initial indicative costs for potential on-site processing and surface infrastructure.
Independent Metallurgical Operations is undertaking test work which includes sulphide flotation optimisation studies with the objective to validate the excellent preliminary results announced on 19 September 2014 and to optimise copper and silver recoveries. First results from these studies are expected in early June. The scoping study is due for completion in the June quarter and if positive will form the basis for pre-feasibility and definitive feasibility studies at Mahumo.
MOD is progressing discussions with a number of parties regarding funding for feasibility related studies. The Company also intends to apply for a South African Department of Trade and Industry grant which is available for feasibility studies for projects in Africa.
Figure 2: Interpreted long section of West Zone deposit showing completed drill hole intersections (as down hole widths)
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Proposed timeframe for Scoping and Feasibility studiesIn the event the scoping study is positive, this is proposed to be followed by pre-feasibility (PFS) and definitive feasibility studies (DFS) within the following estimated timeframes:
Mahumo Project (estimated timeframes) | Mar Q15 | June Q15 | Sept Q15 | Dec Q15 | Mar Q16 | June Q16 | Sept Q16 |
Resource (Stage One) | |||||||
Metallurgical Test Work | |||||||
Scoping Study (Stage One) | |||||||
PFS | |||||||
DFS | |||||||
Extension Drilling (Stage Two) | |||||||
Permitting and Mining Lease |
Table 2: Mahumo Project - indicative time frames, next 18 months
Regional Botswana Holdings
MOD is the second largest licence holder in the highly prospective Kalahari Copper Belt in Botswana with
6,918km2 held in granted licences (listed in Table 4 in report). During the March quarter, MOD was granted two year renewals for 3 key PL's (PL034/2010, PL035/2010 and PL036/2010) south of Ghanzi (Figure 3).
Figure 3: MOD's tenement holdings in Kalahari Copper Belt showing current drilling targets
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The Ghanzi South licences cover the interpreted sheared margin between the Kaapvaal Craton and younger Proterozoic sediments (Figure 3). This structural contact is considered to have potential for copper-silver mineralisation similar to the numerous sediment hosted deposits elsewhere in the Kalahari Copper Belt and is a high priority drilling target. MOD has presented an exploration program to the Botswana Government for geochemical sampling, geophysics and drill testing of these targets during 2015.
MOD also remains very encouraged with early drilling results (reported 14 March 2014) from the large Molelo Intrusion located ~60km north of Mahumo (Figure 3). The first drill hole (CL-02-D) to test this large magnetic anomaly intersected potential IOCG type hematite alteration and elevated PGM values in the underlying mafic intrusion. A geological mapping and sampling program commenced in the area immediately southwest of the intrusion at the end of the March quarter and drilling is planned to test the magnetic core of the Molelo Intrusion ~500m north of previous drill hole CL-02-D when funds are available. MOD applied for a two year renewal for PL 141/2012 during the March quarter.
Drilling is also proposed to test a number of targets along the interpreted 25km long prospective contact at the
Marthie Prospect on PL 280/2014, ~60km west of Mahumo.
SAMS CREEK GOLD PROJECT, NZ (MOD 60%, OceanaGold Corporation 40%)
The mineral resource at Sams Creek which contains >1Moz gold was detailed in an ASX announcement on
9 October 2013. The resource is centred on the Main Zone deposit which comprises significant widths (up to
35m true width) of porphyry hosted gold mineralisation. The Main Zone represents only part of the ~7km long
Sams Creek porphyry dyke and the deposit remains completely open along strike and at depth.
As announced on 24 July 2014, a decision was made to postpone drilling at Sams Creek due to the relatively low gold price and market sentiment. Sams Creek is a substantial gold deposit with excellent potential for extensions. Drilling is expected to resume when there is a sustained improvement in the gold price and MOD can secure funding to advance the project towards potential production.
CORPORATE
MOD announced on 9 April 2015 that it received valid application monies from Shareholders of $507,500 pursuant to the Share Purchase Plan (Plan) announced to the ASX on 13 March 2015. The Plan was underwritten to an amount of $600,000 and the shortfall from the issue was placed in accordance with the terms of the underwriting agreement with Patersons Securities Limited. The issue price for the shares issued under the Plan was 0.4093c (representing a 20% discount to the VWAP of Shares on ASX over the last 5 days on which sales in the Shares were recorded immediately prior to the issue date of Shares under the Plan).
The majority of funds will be used to progress the Mahumo Copper/Silver Project, specifically to complete the Stage One scoping study and conduct ongoing metallurgical test work. This will also enable the Company to progress discussions with third parties regarding potential mining and processing options, concentrate offtake and early funding for feasibility programs.
MOD Directors and others will participate in a placement to raise a minimum additional $150,000 at the same issue price as the Plan, subject to shareholder approval at the Company's annual general meeting to be convened on 15 May 2015.
For further information, please contact:
Managing Director Executive Chairman & Company Secretary
MOD Resources Limited MOD Resources Limited
Ph: (61 8) 9322 8233 Ph: (61 8) 9322 8233 jhanna@modresources.com.au mclements@modresources.com.au
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Competent Person's StatementsThe information in this announcement that relates to Geological Data and Exploration Results at the Botswana Copper Project is reviewed and approved by Jacques Janse van Rensburg, BSc (Hons), General Manager Exploration (Africa) for MOD Resources Ltd. He is registered as a Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP) No. 400101/05 and has reviewed the technical information in this report. Mr Janse van Rensburg has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity which it is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Janse van Rensburg consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
Information in this announcement relates to previously released exploration data disclosed under the JORC Code 2004. It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported and is based on and fairly represents information reviewed and approved by Jacques Janse van Rensburg and Paul Angus.
The Competent Person responsible for the geological interpretation, Stage One Mineral Resource estimation and classification of the Mahumo Copper/Silver Project is Mr A.I. Pretorius, who is a full-time employee of Sphynx Consulting CC and registered with SACNASP (400060/91). Details relating to the Mahumo Stage One Mineral Resource estimation were announced on 25 March 2015 with a subsequent Mineral Resource Statement announced on 15 April 2015. Mr Pretorius has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Pretorius consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Forward Looking Statements and DisclaimerThis announcement contains certain statements which constitute "forward looking statements".
Examples of forward looking statements in this release are: "Mahumo is completely open below current limit of drilling along 2.4km strike length", and: "Discussions progressing for potential on-site processing, offtake and feasibility funding", and: "High grade copper-silver mineralisation at West Zone appears continuous from shallow depth (15-25m) to the current limit of drilling (~500m depth)", and: "proposed to test the potential for high grade resource extensions below the West Zone, Central Zone and East Zone", and: "the objective to validate the excellent preliminary results announced on
19 September 2014 and to optimise copper and silver recoveries", and: "In the event the scoping study is positive, this is proposed to be followed by pre-feasibility (PFS) and definitive feasibility studies (DFS) within the following estimated timeframes ", and: "potential for copper-silver mineralisation similar to the numerous sediment hosted deposits elsewhere in the Kalahari Copper Belt and is a high priority drilling target", and: "drilling is planned to test the magnetic core of the Molelo Intrusion ~500m north of previous drill hole CL-02-D", and: "Drilling is also proposed to test a number of targets along the interpreted 25km long prospective contact at the Marthie Prospect", and: "Sams Creek is a substantial gold deposit with excellent potential for extensions. Drilling is expected to resume when there is a sustained improvement in the gold price and MOD can secure funding to advance the project towards potential production", and: "enable the Company to progress discussions with third parties regarding potential mining and processing options, concentrate offtake and early funding for feasibility programs".
Such forward looking statements are only predictions based on current information and assumptions and are subject to inherent risks and uncertainties which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward-looking statement. No representation or warranty, expressed or implied, is made by MOD Resources Ltd that material contained in this announcement will be achieved or proved correct.
This announcement does not include reference to all available information on MOD Resources Limited or the Sams Creek Gold Project or the Botswana Copper Project and should not be used in isolation as a basis to invest in the Company. Potential investors should refer to MOD Resources Limited's other public releases and consult professional advisers before investing in the Company.
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Exploration Targets and Results
This announcement refers to Exploration Targets as defined under Sections 18 and 19 of the 2012 JORC Code.
The Exploration Targets quantity and quality referred to in this release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Exploration Targets being delineated as a mineral resource.
This release includes no reference to new assay results or drilling intersections or Mineral Resources which haven't already been announced by MOD Resources Ltd previously.
PROJECT BACKGROUND1. Botswana Copper Project
MOD's Botswana Copper Project comprises a tenement holding of ~6,918km2 in the central and western part of the Kalahari Copper Belt in Botswana. MOD is conducting a substantial exploration program in Botswana and is currently focussed on the Stage One resources drilling and scoping study programs at Mahumo which is centrally located to MOD's other licences and priority targets. Any future development and infrastructure established at Mahumo may provide a strategic opportunity to develop other deposits in the region. For this reason, MOD intends to progress exploration on other targets (eg Molelo, Marthie) during 2015 and is considering a number of ways to fund this work in addition to the current substantial program underway at Mahumo.
Several of MOD's Botswana licences adjoin exploration licences held by ASX-listed Discovery Metals Ltd and American-based Cupric Canyon Capital. The Kalahari Copper Belt became Africa's newest copper-silver mining province during 2012 when Discovery Metals commissioned its Boseto mine.
2. Sams Creek Gold Project
The Sams Creek Gold Project is located 100km north of the Reefton gold field in the South Island of New Zealand.
MOD Resources Limited (ASX: MOD), through subsidiary Sams Creek Gold Ltd, owns 60% of Sams Creek Gold Project. MOD
can earn up to 80% of Sams Creek from OceanaGold Corporation, which is New Zealand's largest gold producer.
Sams Creek has an existing JORC 2012 compliant Inferred and Indicated Mineral Resource containing approximately 1.0Moz gold (announced 9 October 2013). The resource estimate was prepared by Golder Associates Pty Ltd. The resource has not materially changed since it was last reported in an announcement to ASX on 9 October 2013.
The known gold mineralisation at Sams Creek is contained within a porphyry dyke with an average thickness of 30-35m in the Main Zone deposit. The dyke can be traced 6km along strike within the Sams Creek permit area and extends into the 100% owned Barrons Flat permit area which directly adjoins Sams Creek. It should be noted that the Sams Creek porphyry dyke does not always contain gold mineralisation.
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TABLE 3 -DRILL HOLE INTERSECTIONS SHOWING COPPER, SILVER AND COPPER EQUIVALENT (CuEq) VALUES
CuEq values using prices of Cu and Ag as at 25 March 2015. CuEq = Cu% + (Ag g/t * 0.009)
Drill Hole ID | UTM East | UTM North | Azi | Dip | From m | To m | Width m | Cu % | Ag (ppm) | CuEq* % | Comments |
MO-115-D | 645171 | 7658621 | 325 | -60 | 39.6 | 42.0 | 2.4 | 1.3 | 36.9 | 1.63 | WEST ZONE - Pit Shell |
MO-116-D | 645167 | 7658628 | 325 | -60 | 29.0 | 30.2 | 1.2 | 1.8 | 35.8 | 2.12 | |
MO-118-D | 645262 | 7658671 | 325 | -60 | 41.0 | 44.0 | 3.0 | 2.6 | 72.7 | 3.25 | incl 1.0m @ 4.80% CuEq |
MO-119-D | 645257 | 7658679 | 325 | -60 | 28.8 | 32.0 | 3.2 | 1.6 | 41.5 | 1.97 | |
MO-120-D | 645252 | 7658684 | 325 | -60 | 19.0 | 22.0 | 3.0 | 1.4 | 25.0 | 1.62 | |
MO-121-D | 645351 | 7658719 | 325 | -60 | 44.9 | 48.0 | 3.1 | 2.1 | 59.3 | 2.58 | |
MO-122-D | 645347 | 7658726 | 325 | -60 | 33.5 | 36.0 | 2.5 | 1.6 | 43.8 | 2.00 | |
MO-123-D | 645342 | 7658732 | 325 | -60 | 22.5 | 24.6 | 2.1 | 3.0 | 81.6 | 3.73 | |
MO-124-D | 645435 | 7658768 | 325 | -60 | 40.0 | 43.0 | 3.0 | 1.6 | 41.0 | 1.97 | |
MO-125-D | 645430 | 7658775 | 325 | -60 | 30.7 | 33.0 | 2.3 | 2.6 | 67.9 | 3.21 | |
MO-127-D | 645518 | 7658820 | 325 | -60 | 34.3 | 37.0 | 2.7 | 1.8 | 39.9 | 2.16 | |
MO-128-D | 645513 | 7658827 | 325 | -60 | 25.9 | 29.0 | 3.1 | 2.0 | 20.8 | 2.19 | |
MO-129-D | 645506 | 7658835 | 325 | -60 | 19.8 | 22.0 | 2.2 | 1.9 | 55.2 | 2.40 | |
MO-136-D | 645604 | 7658872 | 325 | -60 | 39.0 | 40.0 | 1.0 | 1.1 | 44.0 | 1.50 | |
EAST ZONE - PIT SHELL | |||||||||||
MO-148-D | 646725 | 7659544 | 325 | -60 | 42.0 | 43.0 | 1.0 | 1.6 | 33.0 | 1.90 | western end East Zone |
MO-149-D | 646720 | 7659551 | 325 | -60 | 31.0 | 32.0 | 1.0 | 1.8 | 45.0 | 2.21 | |
MO-151-D | 646811 | 7659587 | 325 | -60 | 42.0 | 45.0 | 3.0 | 2.6 | 63.1 | 3.17 | |
MO-153-D | 646803 | 7659601 | 325 | -60 | 25.0 | 26.0 | 1.0 | 1.5 | 33.0 | 1.80 | |
PANEL 1 - UNDERGROUND | |||||||||||
MO-130-D | 645258 | 7658589 | 325 | -70 | 232.3 | 236.0 | 3.7 | 2.6 | 57.6 | 3.12 | incl 1.0m @ 5.36% CuEq |
MO-131-D | 645356 | 7658638 | 325 | -70 | 219.8 | 223.0 | 3.2 | 2.1 | 48.4 | 2.50 | |
MO-132-D | 645450 | 7658668 | 325 | -70 | 196.6 | 199.0 | 2.4 | 1.5 | 46.9 | 1.92 | |
MO-133-D | 645537 | 7658710 | 325 | -70 | 233.0 | 236.0 | 3.0 | 1.4 | 37.0 | 1.73 | |
MO-134-D | 645637 | 7658757 | 325 | -70 | 264.0 | 266.0 | 4.0 | 2.1 | 66.1 | 2.69 | incl 1.0m @ 5.89% CuEq |
MO-139-D | 645676 | 7658708 | 325 | -70 | 320.3 | 323.0 | 2.7 | 1.6 | 32.0 | 1.92 | incl 1.0m @ 3.96% CuEq |
MO-140-D | 645577 | 7658653 | 325 | -70 | 323.1 | 324.9 | Fault Zone (NSI) | ||||
MO-141-D | 645537 | 7658710 | 325 | -70 | 301.9 | 304.9 | 3.0 | 1.8 | 39.9 | 2.13 | incl 1.9m @ 2.82% CuEq |
MO-142-D | 645385 | 7658595 | 325 | -70 | 266.8 | 270.0 | 3.2 | 1.9 | 41.6 | 2.27 | |
MO-144-D | 645401 | 7658585 | 325 | -75 | 278.4 | 280.0 | 1.6 | 1.5 | 46.8 | 1.92 | fault offset |
MO-145-D | 645515 | 7658586 | 325 | -70 | 310.0 | 311.0 | 1.0 | 1.1 | 116.0 | 2.14 | fault offset |
MO-146-D | 645624 | 7658614 | 325 | -70 | 315.5 | 317.0 | 1.5 | 1.9 | 45.7 | 2.31 | fault offset |
MO-147-D | 645776 | 7658606 | 325 | -70 | 520.0 | 524.0 | 4.0 | 2.1 | 55.0 | 2.60 | incl 1.0m @ 3.70% CuEq |
MO-154-D | 645771 | 7658728 | 325 | -70 | 323.0 | 324.0 | 1.0 | 1.7 | 61.0 | 2.27 | |
MO-143-D | 646022 | 7658891 | 325 | -70 | 305.0 | 307.2 | 2.2 | 1.5 | 48.8 | 1.94 | CENTRAL ZONE |
MO-117-D | 645163 | 7658635 | 325 | -60 | 21.2 | 24.0 | 2.8 | 0.5 | 3.9 | 0.53 | SHALLOW LG OXIDE |
MO-126-D | 645425 | 7658782 | 325 | -60 | 20.2 | 23.0 | 2.8 | 1.0 | 9.4 | 1.08 | |
MO-137-D | 645592 | 7658879 | 325 | -60 | 32.0 | 35.0 | 3.0 | 0.4 | - | 0.4 | |
MO-138-D | 645592 | 7658887 | 325 | -60 | 23.0 | 25.0 | 2.0 | 0.4 | - | 0.44 | |
MO-150-D | 646717 | 7659561 | 325 | -60 | (NSI) | ||||||
MO-152-D | 646806 | 7659594 | 325 | -60 | 37.0 | 38.0 | 1.0 | 1.14 | - | 1.14 |
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TABLE 4 - SCHEDULE OF EXPLORATION LICENCES Sams Creek Gold Project
PERMIT/LICENCE NUMBER | SIZE (KM2) | HOLDING | TITLE HOLDER | LICENCE COMMENCEMENT DATE | RENEWAL DATE |
EP40338 EP54454 PP 55645 | 30.6 32.0 39.2 | 60% 100% 100% | Sams Creek Gold Limited Sams Creek Gold Limited Sams Creek Gold Limited | 27-Mar-98 25-Sep-12 28-Feb-14 | 27-Mar-17 25-Sep-17 28-Feb-16 |
TOTAL | 101.8 |
Botswana Copper Project
LICENCE NUMBER | SIZE (KM2 ) | HOLDING | TITLE HOLDER | LICENCE COMMENCEMENT DATE | RENEWAL DATE |
Northern Licences | |||||
PL652/2009 PL686/2009 PL203/2014 PL204/2014 PL280/2014 | 190.9 463.0 77.7 70.8 116.0 | 100% 100% 100% 100% 100% | MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd | 1-Oct-14 1-Oct-14 1-Apr-14 1-Apr-14 1-Jul-14 | 30-Sep-16 30-Sep-16 31-Mar-17 31-Mar-17 30-Jun-17 |
Southern Licences | |||||
PL016/2013 PL017/2013 PL018/2013 PL034/2010 PL035/2010 PL036/2010 | 934.3 670.8 638.9 921.0 789.0 941.0 | 100% 100% 100% 100% 100% 100% | MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd MOD Resources Botswana (Pty) Ltd | 1-Jan-13 1-Jan-13 1-Jan-13 1-Apr-15 1-Apr-15 1-Apr-15 | 31-Dec-15 31-Dec-15 31-Dec-15 31-Mar-17 31-Mar-17 31-Mar-17 |
JV Licences | |||||
PL009/2012 (i) PL141/2012 (i) PL044/2012 (i) | 310.4 643.4 151.1 | 80% 80% 80% | GGZ Investments (Pty) Ltd Mokgweetsi Mining (Pty) Ltd Mokgweetsi Mining (Pty) Ltd | 1-Jan-12 1-Apr-12 1-Jan-12 | 31-Dec-14 31-Mar-15 31-Dec-14 |
TOTAL | 6,918.30 |
Notes:
(i) Renewal applications submitted. Awaiting response from Department of Mines.
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