AI assistant
MACRO METALS LIMITED — Board/Management Information 2018
Sep 9, 2018
65283_rns_2018-09-09_a0610239-9dab-4caa-a64e-85c670928033.pdf
Board/Management Information
Open in viewerOpens in your device viewer
==> picture [596 x 143] intentionally omitted <==
----- Start of picture text ----- Nigerian Subsidiary----- End of picture text -----
10 September 2018
DIRECTOR APPOINTMENT
Kogi Iron Limited (ASX: KFE, “Kogi”, “the Company”) is pleased to announce the appointment of Michael Arnett as a Non-Executive Director.
Mr Arnett has over 25 years of experience as a Lawyer, Corporate Adviser and Director of professional service firms and publicly listed companies. He is a former consultant to, partner of and member of the Board of Directors and national head of the Natural Resources Business Unit of the law firm Norton Rose Fulbright (formerly Deacons). Michael has been involved in significant corporate and commercial legal work for the resource industry for over 25 years. His current directorships of listed companies include: Chairman, NRW Holdings Limited, and Non-Executive roles for Archipelago Metals Limited and Queensland Energy Resources Limited.
Kogi Chairman Ian Burston said the appointment of Mr Arnett as a Non-Executive director was in line with Kogi’s strategy of advancing the Agbaja project and in particular to strengthen its corporate governance and legal acumen. “This appointment of Michael adds to the diversity and strength of the Kogi board and we are delighted to have someone of his calibre join the board”.
The Board of Kogi Iron Limited now comprises the following Directors:
Dr Ian Burston Non-Executive Chairman Mr Martin Wood Chief Executive Officer Mr Don Carroll Non-Executive Director Mr Michael Tilley Non-Executive Director Mr Michael Arnett Non-Executive Director
For more information, 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 SummaryOrdinary Shares: 651,343,370Share price: $0.145Market capitalisation: $94m | Board of DirectorsDr Ian Burston –Non Executive ChairmanMr Martin Wood – Chief Executive OfficerMr Don Carroll –Non-Executive DirectorMr Michael Tilley –Non-Executive DirectorMr Michael Arnett –Non-Executive Director | ContactUnit 23, 4 Ventnor Avenue,West Perth WA 6005Tel : +61 8 9200 3456Email:[email protected]W:www.kogiiron.com |
|---|
==> picture [90 x 25] intentionally omitted <==
==> picture [35 x 35] intentionally omitted <==
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.