| Announcement Date: | 2022-11-16 |
|---|---|
| Announcement Type: | Pre-Feasibility Study |
| Announcement Code: | JORC |
| Company name: | Genmin Ltd. |
| Project name: | Baniaka |
| Location: | Gabon |
| Commodities: | Iron,Sulphur,Alumina,Silica,Phosphorous |
| Highlight: | Pre-Feasibility Study result incl. Post Tax NPV (8%) of USD $391M & IRR of 38% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | African iron ore explorer and developer Genmin Limited (Genmin or the Company) (ASX: GEN), is pleased to advise the market of outstanding results from the Preliminary Feasibility Study (PFS) for the Company’s 100% owned Baniaka iron ore project (Baniaka) located in Gabon, west Central Africa (Figure 1). Genmin’s Managing Director and CEO, Joe Ariti, commented: “I am delighted with the outcome of the PFS, which shows significant shareholder and stakeholder value can be realised with the development of a scalable 5 million tonne per annum mining operation at Baniaka whilst maintaining a strong focus on ESG. The financial metrics are compelling and with a modest initial capital investment, and operating hydroelectricity, rail and port infrastructure, this initial phase of monetising the province scale Baniaka asset is highly feasible.” “Pivoting from the PFS, our target is to achieve first production in mid-2024. To this end, we will be supporting Anglo American in finalising its due diligence and negotiating documentation in respect of debt financing and offtake, completing the social and environmental impact assessment by the end of the year, and lodging a large-scale mining permit application. Concurrently, we also plan to complete several pre-d |
| Read More |
Pricing Plans
We are a SaaS business and access to announcements and data is by subscription. We offer monthly subscriptions and discounts for annual payments.
Standard
$
10
Per Month
Stay up to date with the global mining industry.
- The Opaxe Review
- Search using Explore
- 40,000 company announcements
- Access announcements older than 7 days only
Essential
$
50
Per Month
Our most popular plan, great for: Small Investors, and Mining Suppliers
- All Standard plan features; plus
- New business opportunities every day
- Customizable filters and search results
- The Opaxe Index
- Export search results to your own system
- Company pages & other announcements
Premium
$
100
Per Month
Comes with Alerts and lots of data, perfect for: Mining Companies, Consultants, and Share Traders
- All Essential plan features; plus
- Announcement Alerts and Notifications
- Drilling result comparisons
- Downloadable intercept data
- Resources and reserves data