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BLACK ROCK MINING LIMITED — AGM Information 2021
Oct 4, 2021
64531_rns_2021-10-04_95c2f4eb-f473-4725-9d60-c2dbaf0c5967.pdf
AGM Information
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ASX ANNOUNCEMENT 5 October 2021
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FY21 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 2021.
In addition, the closing date for the receipt of nominations from persons wishing to be considered for election as a director is 13 October 2021. Any nominations must be received in writing no later than 5.00pm (WST) on 13 October 2021 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 2021. 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 Elvis Jurcevic Chief Executive Officer Investor Relations Black Rock Mining irX Advisors +61 438 356 590 +61 408 268 271 [email protected] [email protected]
Black Rock Mining Ltd ACN 094 551 336 ASX: BKT
Australian Office 45 Ventnor Avenue West Perth, WA 6005 Ph: +61 8 9389 4415 E: [email protected]
Tanzanian Office Mahenge Resources Ltd Msasani Towers Second floor Wing B Dar es Salaam Ph +255 719 382 631
Directors Richard Crookes - Chairman John de Vries - Managing Director & CEO Gabriel Chiappini - Non-Executive Director/Company Secretary Ian Murray - Non-Executive Director
www.blackrockmining.com.au
ASX ANNOUNCEMENT 5 October 2021
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About Black Rock
Black Rock Mining Limited is an Australian based company listed on the Australian Securities Exchange (ASX:BKT). The Company has a 100% interest in the Mahenge Graphite Project ( 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 resources estimate.
On 25 July 2019, the Company released an enhanced Definitive Feasibility Study (eDFS) for the Project. The eDFS for the Mahenge Graphite Mine envisages a four phase operation, ultimately producing 340,000 tpa of high-grade graphite, with 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[**] )
Black Rock has obtained all Environmental approvals, Mining Licences and its Resettlement Action Plan with clear title to the eDFS project area.
In June 2020, the Company announced a Strategic Alliance with POSCO Group for the development of the Mahenge Graphite Mine. This included an equity investment of US$7.5M, signed in February 2021, and an offtake agreement, currently in progress, which includes a prepayment facility of up to US$20M. Black Rock has also allocated planned production through Pricing Framework Agreements (ASX release 8 May 2019) with five other offtake customers.
Following release of the enhanced DFS (eDFS) in July 2019, the Company confirms that it is not aware of any new data or information that materially affects the results of the eDFS and that all material assumptions and, in the case of estimates of Mineral Resources or Ore Reserves, technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
The estimated Ore Reserves and Mineral Resources underpinning the production target has been prepared by competent persons in accordance with the requirements in Appendix 5A (JORC Code).
The Company is construction-ready subject to financing and confirmation of Tanzanian Government Free Carried Interest Agreement.
| Interest Agreement. | Interest Agreement. | Interest Agreement. | Interest Agreement. | |||
|---|---|---|---|---|---|---|
| JORC Compliant Mineral Resource Estimate and Ore Reserve*** | ||||||
| Ore Reserves | Tonnes (Mt) | Grade (% TGC) | Contained Graphite (Mt) | |||
| - Proven | 0 | 0.0 | 0.0 | |||
| - Probable | 69.6 | 8.5 | 6.0 | |||
| Total Ore Reserves | 69.6 | 8.5 | 6.0 | |||
| Mineral Resources | ||||||
| - Measured | 25.5 | 8.6 | 2.2 | |||
| - Indicated | 88.1 | 7.9 | 6.9 | |||
| Total M&I | 113.6 | 8.1 | 9.1 | |||
| - Inferred | 98.3 | 7.6 | 7.4 | |||
| Total M, I&I | 211.9 | 7.8 | 16.6 | Location of Black Rock’s Mahenge Graphite Project in Tanzania |
For further information on Black Rock Mining Ltd, please visit www.blackrockmining.com.au
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Forecast Capex has been classified as a Class 3 estimate with accuracy of ±10% as defined by AACE
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** AU$/US$ 0.70
*** Resource and Ore Reserve Estimates as released to ASX on 8 August 2017 Optimised PFS
Black Rock Mining Ltd Australian Office ACN 094 551 336 45 Ventnor Avenue ASX: BKT West Perth, WA 6005 Ph: +61 8 9389 4415
Tanzanian Office Mahenge Resources Ltd Msasani Towers Second floor Wing B Dar es Salaam Ph +255 719 382 631
Directors
Richard Crookes - Chairman John de Vries - Managing Director & CEO Gabriel Chiappini - Non-Executive Director/Company Secretary Ian Murray - Non-Executive Director
www.blackrockmining.com.au