Prescient presentation - Petmin
Prescient presentation - Petmin
Prescient presentation - Petmin
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<strong>Petmin</strong> holds a 25% interest in Veremo pig iron project<br />
(potentially also titanium)<br />
55<br />
Veremo highlights<br />
Location • Stoffberg, Mpumalanga Province, South Africa<br />
Reserves &<br />
Resources<br />
Project Plan<br />
• Polymetallic ore body containing approximately<br />
43% Fe<br />
• 5 renewed New Order Prospecting Rights<br />
granted<br />
• Updated drilling programme has delineated a<br />
Measured Resource of 44.3Mt (previously<br />
11.6Mt) in the weathered zone of the ore body<br />
• Weathered material requires minimal preparation<br />
as this is more simple and does not demand<br />
technical development. This as opposed to a<br />
fresh zone which requires significant<br />
development in terms of sizing<br />
• Plant commissioning planned for 2013/4;<br />
• Potential for 1Mtpa pig iron<br />
• All capital financed by Framework Investments<br />
(Kermas)<br />
• Guaranteed dividend 2012-2014 of R65 million pa<br />
• November 2010 submitted mining rights<br />
application<br />
• Finalising metallurgical processing test work,<br />
including test work to produce titanium that may<br />
be used to produce synthetic rutile<br />
• Develop bankable feasibility study<br />
• May 2011 submitted application for EMPR<br />
Combined weathered<br />
resources (Dec 09)<br />
Measured (mt) 44.25<br />
Indicated (mt) 29.10<br />
Total (mt) 73.35<br />
Inferred (mt) 12.83<br />
Combined fresh resources<br />
(Dec 09)<br />
Measured (mt) 498.3<br />
Indicated (mt) 26.4<br />
Total (mt) 524.7<br />
Inferred (mt) 1.1<br />
…Committed …A PLATFORM to growth, FOR dedicated GROWTH to value
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