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MACRO METALS LIMITED — Board/Management Information 2020
Apr 30, 2020
65283_rns_2020-04-30_54c2b6fb-b99e-4887-a60f-91a80dd62564.pdf
Board/Management Information
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Nigerian Subsidiary
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1 May 2020
CHANGE OF COMPANY SECRETARY
Australian based iron ore and steel development company, Kogi Iron Limited (ASX: LBT) (“Kogi”, “Kogi Iron” or the “Company”), advises of the retirement of Company Secretary, Kevin Hart, effective today.
Ray Ridge has been appointed as Company Secretary and he will assume those responsibilities immediately. Ray is Adelaide based and has broad corporate governance experience and has acted as Company Secretary for other ASX listed companies.
Kogi Non-Executive Chairman, Mr Greg Boulton AM, commented: “I would like to thank Kevin and his team for the support they have provided to the Company over the past three and a half years. Kevin has been a valuable asset to the Board as Company Secretary and we wish him well.”
Approved for release by the Chairman of the Board
For more information, please contact:
Ray Ridge Company Secretary Kogi Iron Limited Tel (office): +61 8 9200 3456 Email: [email protected]
KFE Capital Summary Ordinary Shares: 774,462,336 Listed Options: 142,328,948 Performance Rights: 26m Share price: $0.032 Market capitalisation: $25m
Board of Directors Contact Mr Greg Boulton AM – Non-Executive Chairman 10 George Street, Mr David Turvey – Managing Director Stepney, SA,5069 Mr Peter Huljich – Non-Executive Director Tel: +61 8 9200 3456 Email: [email protected] W: www.kogiiron.com
About Kogi Iron (ASX: KFE)
Kogi Iron Limited is a Perth-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.
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.
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.