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BLACK ROCK MINING LIMITED — AGM Information 2020
Oct 5, 2020
64531_rns_2020-10-05_699d7d38-53cb-437a-802d-6ff86619bdf7.pdf
AGM Information
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ASX ANNOUNCEMENT 6 October 2020
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FY20 Annual General Meeting Disclosure
Tanzanian graphite developer Black Rock Mining Limited (ASX:BKT) ( Black Rock or the Company ) advises that, in accordance with ASX Listing Rule 3.13.1 and clause 12.8 of its Constitution, its next Annual General Meeting (AGM) is anticipated on being held on 23 November 2020.
In addition, the closing date for the receipt of nominations from persons wishing to be considered for election as a director is 13 October 2020. Any nominations must be received in writing no later than 5.00pm (WST) on 13 October 2020 at the Company’s registered office.
Shareholders will be advised of further details regarding the AGM including the date and time of the AGM in a separate ASX announcement inclusive of the AGM Notice of Meeting. The Notice of Meeting will be provided to shareholders during October 2020. The Notice of Meeting will also be available on the ASX Company Announcements Platform and the Company’s website at https://blackrockmining.com.au/
This ASX release was authorised on behalf of the Black Rock Board by:
John de Vries, Managing Director & CEO
For more information:
John de Vries Chief Executive Officer Black Rock Mining +61 438 356 590 [email protected]
Elvis Jurcevic Investor Relations irX Advisors +61 408 268 271 [email protected]
Black Rock Mining Ltd ACN 094 551 336 ASX:BKT
Australian Registered Office 45 Ventnor Avenue West Perth, WA 6005 Ph: +61 8 9389 4415
Tanzanian Office Mahenge Resources Ltd Msasani Towers Second Floor, Wing B PO BOX 105735 Dar es Salaam Tanzania
Directors Richard Crookes John de Vries Gabriel Chiappini Ian Murray
ASX ANNOUNCEMENT 5 October 2020
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About Black Rock Mining
Black Rock Mining Limited is an Australian based company listed on the Australian Securities Exchange (ASX:BKT). The Company currently has a 100% interest in the Mahenge Graphite Project (the "Project") located in Tanzania. The Project has a JORC compliant Mineral Resource Estimate of 212m tonnes at 7.8% TGC. It also has Ore Reserves of 70m tonnes at 8.5% TGC. The Ore Reserves support a mine life of up to 350k tonnes of graphite per annum for a reserve life of 16 years. Since the release of the Mineral Resource Estimate, the Company confirms that it is not aware of any new information or data that materially affects the Mineral Resource Estimate.
In October 2018, the Company released a Definitive Feasibility Study (DFS) for the Project, which was based on strong customer demand. This DFS was enhanced in July 2019, and demonstrates exceptional financial metrics including:
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Low Capex : Lowest peak capital expenditure of US$116M for phase one[*] ;
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High Margin : AISC margin of 63.1%;
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Low Technical Risk : Substantial pilot plant operations run of 110 tonnes; and
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Superior Economics : IRR of 44.8% with NPV10 of US$1.16bn (A$1.65bn[**] ).
Following release of the Enhanced DFS in July 2019, the Company confirms that it is not aware of any new data or information that materially affects the results of the Enhanced DFS and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
In February 2019, the Company announced receipt of its mining licence for the DFS Project. In May 2019, the Company announced it had substantially allocated planned production with up to 255k tonnes per annum of graphite committed to sale by year three of production, through Pricing Framework Agreements.
The Company is currently progressing financing discussions and detailed engineering with a view to commencing construction of the Project.
| construction of the Project. | construction of the Project. | construction of the Project. | construction of the Project. | construction of the Project. | ||||
|---|---|---|---|---|---|---|---|---|
| JORC Compliant Mineral Resource Estimate and Ore Reserve | ||||||||
| Or | e Reserves | Tonnes (Mt) | Grade (% TGC) | Contained Graphite (Mt) | ||||
| - Proven | 0 | 0.0 | 0.0 | |||||
| - Probable | 70 | 8.5 | 6.0 | |||||
| Total Ore Reserves | 70 | 8.5 | 6.0 | |||||
| Mineral Resources | ||||||||
| - Measured | 25.5 | 8.6 | 2.2 | |||||
| - Indicated | 88.1 | 7.9 | 6.9 | |||||
| To | tal M&I | 113.6 | 8.1 | 9.1 | ||||
| - Inferred | ||||||||
| 98.3 | 7.6 | 7.4 | ||||||
| Total M, I&I | 211.9 | 7.8 | 16.6 | Location of Black Rock’s Mahenge Graphite Project in Tanzania |
For further information on Black Rock Mining Ltd, please visit www.blackrockmining.com.au
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Forecast Capex has been classified as a Class 3 estimate with accuracy of ±10% as defined by AACE
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** $AUD/USD 0.70
Black Rock Mining Ltd ACN 094 551 336 ASX:BKT
Australian Registered Office 45 Ventnor Avenue West Perth, WA 6005 Ph: +61 8 9389 4415
Tanzanian Office Mahenge Resources Ltd Msasani Towers Second Floor, Wing B PO BOX 105735 Dar es Salaam Tanzania
Directors Richard Crookes John de Vries Gabriel Chiappini Ian Murray