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MACRO METALS LIMITED — Board/Management Information 2020
Sep 14, 2020
65283_rns_2020-09-14_90a82561-2ebc-4beb-b417-c2ed2c265c25.pdf
Board/Management Information
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Tuesday 15 September 2020
Non-Executive Director Appointment
Kogi Iron Limited (ASX: KFE – the “Company” or “Kogi”) is pleased to announce the appointment of Craig Hart as Non-Executive Director and Deputy Chairperson, effective immediately.
Craig brings to the Board considerable expertise in the successful execution and completion of complex transactions. He will have primary responsibility for dealing with commercial relationships with existing and proposed strategic partners.
His wide base of experience relating specifically to strategic development, capital raising, legal and commercial capabilities will complement the existing board and assist the company as it approaches key development milestones.
Craig will assist the Chair and Executive Management to define an accelerated approach to enable the first stage of the development of the initial production plant as previously foreshadowed.
The company is pleased that Craig will join the Board at what will be a significant period of development over the next year.
Approved for release by the Kogi Board
For further information, please contact: KOGI IRON LIMITED
Ray Ridge Company Secretary
About Kogi Iron (ASX: KFE)
Kogi Iron Limited is an Adelaide-based company with the objective of becoming a producer of cast steel billet product that can be sold to fabricators of finished 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 of scrap steel raw materials. The Agbaja project, located on the Agbaja plateau approximately 15km northwest of Lokoja city in Kogi State and 200km southwest of Abuja, the capital city of Nigeria, opens the opportunity for domestic production of steel.
| KFE Capital Summary | Board of Directors and Management | Contact |
|---|---|---|
| Ordinary Shares: 774,833,920 | Mr Greg Boulton AM –Non-Executive Chairman | 10 George Street |
| Listed Options: 142,328,948 | Mr Craig Hart -Non-Executive Director & Deputy Chairman | Stepney SA 5069 |
| Share price: $0.03 | Mr David Turvey –Managing Director | Tel: +61 8 7324 4047 |
| Market capitalisation: $23.3m | Mr Peter Huljich –Non-Executive Director | E: [email protected] |
| Mr Ray Ridge –Chief Financial Officer and Company Secretary | W:www.kogiiron.com | |
| Mr AlabiSamuel –Country Manager, KCM Mining Limited, Nigeria |
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.
Figure 1 – Location Plan: Agbaja Cast Steel Project. Nigeria.
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Table 1 – Summary Grade and Tonnage for Agbaja Iron Ore Resource 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.