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EPIC: ASA
Market: AIM
Sector: Mining
Phone: +44 (0)20 3696 5470
Address: 1 Catherine Place, London, SW1E 6DX.
Website: www.asaukplc.com
Asa Resource Group PLC

Asa Resource Group PLC

Asa Resource Group plc is a pan-African resources company with operations in Zimbabwe and South Africa, and a broad range of exploration projects and interests in the Democratic Republic of Congo (DRC), Angola, Ghana and Botswana.

In September 2015 the Company changed its name from Mwana Africa plc to Asa Resource Group plc. The new name was chosen to move forward from the Company’s previous heritage and become recognizable beyond Africa on a more global scale. The group has a diverse asset base, including gold, nickel, copper, cobalt and diamonds and intends to diversify and reorganize its business along commodity lines as well as stimulating growth through global investment.

Asa Resource Group is traded in the ISDX Exchange HERE

Asa Resource Group PLC

www.asaukplc.com

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Big picture - Why invest in Asa Resource Group PLC


Asa Resource Group PLC Snapshot

Vision
Asa Resource Group PLC intends to create value by developing a broad- based portfolio of operations and exploration programmes in a range of commodities and countries across the African continent, securing production and cashflow, building trusted partnerships and being the preferred vehicle for African investors and entrepreneurs.

Asa Resource Group PLC is well positioned to build a truly pan-African resources group that brings strong returns for its shareholders and contributes significantly to the benefit of the African people and their continent.

Strategy
the strategy of Asa Resource Group plc is based on:

Pan-African reach: activities in a portfolio of countries across the African continent
Multi-commodity exposure: production and exploration assets in a range of commodities including nickel, gold, copper, cobalt, and diamonds
Development of synergies: value creation through the transfer of skills and realisation of synergies across the portfolio
Trusted partnerships: being the preferred vehicle for African investors, entrepreneurs and partners
High-quality management: led by a highly skilled and experienced management team able to secure beneficial deals, projects and returns

 

 

Freda Rebecca Gold Mine

Full name:

Freda Rebecca Gold Mine (FRGM)

 

Location:

The gold mine is situated near the town of Bindura, some 90km north-east of Harare, Zimbabwe.

 

Mwana interest:

Mwana owns 85% of FRGM.

 

Geology and history:

FRGM lies on the central axis of the synclinal Mazowe-Bindura Greenstone belt. The geology of the area around FRGM is characterised by the Shamvaian sediments, diorite and granodiorite. The FRGM orebodies are largely hosted by the Prince of Wales diorite and the Bindura granodiorite. The mineralisation is hosted within two major shear envelopes. Individual shears are variable in width and these two systems merge to the south west at depth flattening at around 850m elevation and extending into the metasediments. The shear system is characterised by a set of anastomosing shears separated by relatively underformed rock units.

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Hunter’s Road

Full name:

Hunter’s Road

 

Geology and history:

The Hunters Road deposit lies in the upper Bulawayan Group within the Gweru-Midlands South Greenstone belt in central Zimbabwe. The Hunters Road nickel deposit is hosted by a serpentinized cumulate komatite, originally consisting mainly of coarse interlocking magnesium rich olivine grains. In some cases accessory pyroxene, sulphides and chromites are present as intergranular/interstitial/intercumulus material. This cumulate komatite is thus essentially dunitic in composition. The orebody is bi-lobate near to surface but appears to merge at depth to form a single entity as in a scissors fault. Although there are different interpretations on the formation of this structure, the most probable on is that the structure is a result of sinistral shear thrusting and repeating the contact and the mineralisation.

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Makaha Deposit

Full name:

Makaha Deposit

 

Mwana interest:

Mwana Africa has 100% ownership of the Makaha Deposit.

 

Geology and history:

Situated 140km north-east of Harare, the Makaha deposit is hosted by a banded ironstone format. The deposit outcrops on a series of hills striking roughly east- west, with gold mineralization occurring in lenses steeply dipping to the north associated with shearing and brecciation in the banded ironstone. Past exploration consists of a series of trenches along strike, two cross cutting adits and a program of reverse circulation and diamond drilling holes.

 

Maligreen

Full name:

Maligreen Gold Mine

 

Mwana interest:

Mwana Africa has a 50% interest in the dormant Maligreen Gold Mine. The interest was acquired through the purchase of Cluff Mining in December 2005. Pan African (Private) Limited, a Zimbabwe registered company, holds the other 50% and manages the property.

 

Geology and history:

The Maligreen deposit is located in the Nkayi-Silobela Greenstone Belt approximately 70km west of Kwekwe. Reunion Mining (Zimbabwe) Limited discovered the deposit in 1995 defining a gold resource through a percussion and diamond drilling programme. Mineralization has been identified in lenses in an envelope over 50m wide with a strike length of 900m and to a depth of 200m with the deposit open in depth and to the north.

The ore body has been mined to the base of the weathering by two small open pits. The mine produced 22,500oz of gold by heap-leaching 213,000t of weathered ore from August 2000 to September 2002. Irrigation of the dumps continued to August 2004 with some minor gold recovery.

 

Bindura Nickel Corp (BNC)

Full name:

Bindura Nickel Corporation (BNC)

 

Mwana interest:

Mwana Africa Holdings (Pty) Limited acquired a controlling interest (52.9%) in BNC from Anglo American Corporation of Zimbabwe in 2003. BNC is listed on the Zimbabwean Stock Exchange.

 

Assets and operations:

The company owns and operates the Shangani and Trojan nickel mines, which have hoisting and treatment capacity of 1.0Mt and 1.1Mt a year respectively.

Construction of an upgraded concentrator at Trojan, designed to improve nickel recovery and reduce the talk content of the concentrate, was completed in February 2008. Other projects include the redeepening of the Trojan shaft, and construction of a conveyor decline at Shangani.

BNC also owns the Bindura Smelter and Refinery complex which produces high quality nickel cathodes, copper sulphide and cobalt hydroxide. Alongside material from the Trojan and Shangani mines, the plant has toll treated nickel concentrates and nickel matte from third parties to utilise spare capacity. Current smelter capacity is 17,000tpa and for the refinery 14,500tpa. Construction of an oxygen injection plant was completed in 2008.

 

DRC        

 

Zani-Kodo Project

Full name:

Zani–Kodo Joint Venture

 

Mwana interest:

Mwana Africa holds 80% in the Kilo Moto Joint Venture with Office des Mines d'Or de Kilomoto (Okimo) in terms of an agreement signed in June 2005.

 

Geology and history:

The Zani-Kodo project comprises four licences (including the Zani-Kodo mining licence) covering 1,605km² in the highly prospective Ituri district in the north-east of the country (Figure 1). The area is situated in the same Archaean greenstone belt that hosts the giant Kibali project (>20Moz) 60km to the NW and the Mongbwalu Project (5Moz) 30km to the SW (Figure 2).

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Katanga Concessions

Full name:

Societe d’exploration Miniere du Haut Katanga (SEMHKAT)

 

Mwana interest:

Mwana has a 100% interest in 33 exploration licences covering about 4,721 km² in the Katanga copper belt region of southeastern DRC (figure 1).

 

Geology and history:

Kibolwe: The Kibolwe prospect, 160 kilometres north-west of Lubumbashi, is a significant secondary enriched sediment-hosted stratiform copper deposit hosted by Mines sub-group rocks. The dominant copper oxide mineral is malachite with minor amounts of cuprite and tenorite, which occur within weathered dolomitic shale. Copper sulphides of chalcopyrite have been altered to copper oxides in the oxidized zones of the deposit but remain feebly disseminated in fresh dolomitic shale. Figure 2 shows the current mapped geology of the Kibolwe surrounds area.

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MIBA

Full name:

Société Minière de Bakwanga (MIBA)

 

Mwana interest:

Mwana Africa has a 20% interest in MIBA. MIBA’s other shareholder is the government of the DRC.

 

Geology and history:

Between 2002 and 2006, MIBA produced an average of 6 million carats of diamonds per year. Operational difficulties reduced this production to an annual output of less than 1 million carats over the last two years. MIBA also has mining and exploration titles covering an area in excess of 45,000 km² and is currently looking for joint ventures with major diamond producers.

 

South Africa

 

Klipspringer Diamond Mine

Full name:

Klipspringer Diamond Mine

 

Mwana interest:

Mwana holds 65% of the project.

 

Geology and history:

The Klipspringer Diamond Mine in South Africa is located 250 km north of Johannesburg and 35 km south of Polokwane, the provincial capital of the Limpopo Province. The mine is a joint venture between Mwana and Naka Diamond Mining (Pty) Ltd (“Naka”), a Black Economic Empowerment company.

The development of the Klipspringer Diamond Mine commenced in 2001 with the construction of a decline down to 7 level (160m) and was in full production by February 2003. Following successful trials through 2006 and 2007, the mine was re-engineered and the underhand open stoping mining method introduced, resulting in a reduced tonnage but an improvement in grade and a reduction in the cost structure.

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Angola

 

Camafuca Project

Full name:

Camafuca Project

 

Mwana interest:

Mwana Africa holds an 18% free-carried interest in the project.

 

Geology and history:

Camafuca is one of the largest known undeveloped diamond-bearing kimberlite complexes worldwide and is located in the Lunda Norte Province in northeastern Angola, 20 km southeast of the town of Lucapa. The project area covers the outcropping Camafuca-Camazambo kimberlite cluster of five pipes which have a combined surface area of 160 hectares.

The pre-feasibility study, completed in 2000, defined an inferred mineral resource of 23.25 million carats within 145m of the surface, at an average grade of 0.111ct/m³, Phase One (bulk sampling) of the feasibility study will determine the viability of further activities at Camafuca.

 

Botswana                                         

 

BK16

Full name:

BK16

 

Mwana interest:

Mwana Africa has a 55% interest in the property.

 

Geology and history:

BK16 is located 40 km to the east and 12 km to the north of De Beers’ Orapa and Letlhakane diamond mines, respectively. Together with De Beers’ Jwaneng mine in Southern Botswana this region is the world’s largest diamond producer by value, accounting for 34 million carats annually. The mining costs per carat are also among the lowest in the world.

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Executive Directors:


 

 

 

 

Ning, Yat Hoi (59)

Executive Chairman

 

Mr Yat Hoi Ning joined the Board in June 2012 and he has more than 20 years’ experience in the trading, investing and managing of non-ferrous and precious metals businesses. He is the founder of a number of mining companies including Congo International Mining Corporation SPRL, African PGM Processing SPRL and Fareast Nickel Mining Corporation. He is the chairman of Hoi Mor Industrial (Group) Limited, China International Mining Group Corporation, Hong Kong Mining Exchange Company Limited and previously Chairman of MBMI Resources Inc. Mr Ning also sat as the vice chairman of China Non-ferrous Metals Council.

 

Yim Chiu Kwan (60)

Finance Director

Yim Kwan joined the Board in October 2013. Mr. Kwan, a chartered accountant, has over 30 years of experience in finance, commercial, auditing, taxation and corporate finance accumulated from senior positions in accounting firms and private and public corporations. He also has extensive exposure to different business environments in Asia, Africa and North America. He has previously held the position of chief financial officer and board director of MBMI Resources Inc., a Canadian mining company focused on the exploration and development of nickel projects in the Philippines.

 

For further details please click here 

ASA Resource Group Plc
London (Registered Office)
One Fleet Place
London
EC4M 7WS
United Kingdom

Registered Number : 02167843
Registered in England and Wales

Tel: +44 (0) 203 696 5470

Johannesburg
P.O. Box 78278
Sandton, 2146

Country Club Estate, Block C, Peacock House,
21 Woodlands Drive, Woodmead,
Johannesburg, 2191,
South Africa

Tel: +27 11 883 9550/1
Fax: +27 11 883 9511

Harare
2 Denmark Close
Milton Park
Zimbabwe

Tel: + 263 (0) 782 706 860

Bindura
Freda Rebecca Gold Mine
Tel: + 263 (0) 772411258/9

Trojan Nickel Mine
Tel: + 263 (0) 772 185 65/1/2/3

Registrars
Computershare Investor Services (Ireland) Limited
Heron House
Corrig Road
Sandyford Industrial Estate
Dublin 18

Nominated Adviser & Broker
Peel Hunt LLP
Moor House
120 London Wall
London EC2Y 5ET
United Kingdom

Auditors
KPMG Audit Plc
8 Salisbury Square
London
EC4Y 8 BB

Solicitors
Charles Russell LLP
5 Fleet Place
London
EC4M 7RD

Bankers
Barclays Bank Plc
1 Churchill Place
Canary Wharf
London
E14 5HP

Asa Resource Group PLC Timeline

Newswire
June 26 2015

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