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MACRO METALS LIMITED — Board/Management Information 2018
Nov 19, 2018
65283_rns_2018-11-19_9a3e4b9c-3db2-4c01-9bbc-f216c1dd58f8.pdf
Board/Management Information
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Nigerian Subsidiary
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20 November 2018
KOGI IRON LIMITED APPOINTS SPECIAL ADVISOR
Kogi Iron Limited (ASX: KFE, “Kogi”, “the Company”) has appointed Paul Marsden as Special Advisor to the Board.
Mr Marsden is based in the United Kingdom and has extensive experience in the global steel and iron ore industries having worked in key roles for several international iron ore and steel manufacturers.
Mr Marsden’s specific skills include: Steel plant due diligence studies; Evaluation of steelwork developments globally; Assessment of Direct Reduction steelworks including coal based Direct Reduction; Environmental studies for EAF, DRI and Pelletising operations; Technical input for plans to turn around an African based steel works; Strategic analysis of current and future competitiveness of sectors for the steel industry considering raw materials, energy and transport; Project coordination; Cost control management; and Plant engineering for steel works.
Mr Marsden has also published numerous articles covering the exploration, development and optimisation of iron ore and steel projects.
The Chairman (Dr Ian Burston) commented “We are delighted Paul has agreed to join us as an advisor and his deep knowledge and understanding of the iron ore and steel markets and the many elements that go into the successful development of a cast steel project such as ours will be a great benefit to Kogi Iron as we develop the Agbaja Cast Steel Project in Kogi State, Nigeria”.
Further information on Kogi is available on the Company’s website at www.kogiiron.com or please contact:
Kogi Iron Limited Tel (office): +61 8 9200 3456 Email: [email protected]
About Kogi Iron (ASX: KFE)
Kogi Iron Limited is a Perth-based company with the objective of becoming a producer of cast steel product that can be sold to manufacturers of steel products through the development of its 100% owned Agbaja Cast Steel project located in Kogi State, Republic of Nigeria, West Africa (“Agbaja” or “Agbaja Project”). Nigeria has substantial domestic demand for steel products, which is currently met largely through imports. The Agbaja project, located on the Agbaja plateau approximately 15km northwest of Lokoja city in Kogi State and approximately 200km southwest of Abuja, the capital city of Nigeria, opens the opportunity for domestic production of steel billets.
The Company holds a land position which covers a large part of the Agbaja Plateau. The Agbaja Plateau hosts an extensive, shallow, flat-lying channel iron deposit with an Indicated and Inferred Mineral Resource of 586 million tonnes with an in-situ iron grade of 41.3% reported in accordance with the JORC Code (2012). This mineral resource covers approximately 20% of the prospective plateau area within ML24606 and ML24607.
KFE Capital Summary Ordinary Shares: 651,343,370 Share price: $0.11 Market capitalisation: $72m
Board of Directors
Contact
Dr Ian Burston – Non Executive Chairman Unit 23, 4 Ventnor Avenue, Mr Martin Wood – Chief Executive Officer West Perth WA 6005 Mr Don Carroll – Non-Executive Director Tel : +61 8 9200 3456 Mr Michael Tilley – Non-Executive Director Email: [email protected] Mr Michael Arnett – Non-Executive Director W: www.kogiiron.com
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Table 1 – Summary Grade Tonnage for Laterite (Zone A) and Oolitic (Zone B) Horizons (20% Fe lower cut off is applied) Refer ASX announcement 10 December 2013.
| Classification | Tonnes (Mt) | Fe (%) |
|---|---|---|
| Zone A(Laterite Mineralisation) | ||
| Indicated | 147.5 | 33.2 |
| Inferred | 33.9 | 31.7 |
| Total Indicated + Inferred (Zone A) | 181.4 | 32.9 |
| Zone B(Oolitic Mineralisation) | ||
| Indicated | 318.7 | 45.2 |
| Inferred | 86.3 | 44.7 |
| Total Indicated + Inferred (Zone B) | 405.0 | 45.1 |
| Combined Zone A and Zone B | ||
| Total Indicated | 466.2 | 41.4 |
| Total Inferred | 120.1 | 41.1 |
| Total Indicated + Inferred | 586.3 | 41.3 |
The Company confirms that it is not aware of any information or data that materially affects the information included in the original market announcements and, in the case of estimated Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.