CHROME MINING

THE CHROME-ORE OPERATION

Bauba diversified its business into low-cost, cash-generative, mining operations in 2015 with the Company acquiring 60% of the beneficial rights to the Moeijelijk Chrome Mine.

Moeijelijk is situated on the Eastern Limb of the Bushveld Igneous Complex, with LG6A/6 and LG7 chrome ore-bearing reefs.

The operation is efficient, low-cost and cash-generative and through the exploitation of its near-surface and underground chrome resource, delivers run-of-mine chrome-ore and concentrate chrome from its washing plant to China.

The cash generated from this project will be used to:

Declare potential dividends to Bauba’s shareholders;

Self-finance the development of our existing low cost mines;

Fund the pursuance of additional mining projects; and

Progress the Bauba Platinum Project.

To date Bauba has:

Obtained a 30-year mining right for chrome-ore on the farm Moeijelijk 412KS;

Obtained a full water use licence from the Department of Water and Sanitation to extract water for both the open cast and underground mining operations;

Engaged and successfully worked with a reputable chrome-ore open cast mining operator, to mine 20 000 tonnes of LG6 run-of-mine (ROM) chrome-ore per month;

Contracted with a reputable underground mining operator, to mine underground 30 000 tons of LG6 ROM chrome-ore per month once development is complete; and

Put in place a chrome-ore off-take agreement for the supply of chrome-ore to China.

Established a wash plant that produces foundry, chemical and metallurgical grade concentrates for export to china.

GEOGRAPHICAL LOCATION MAP

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SURFACE GEOLOGY

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INDEPENDENT COMPETENT PERSONS’ REPORT

For more information on the Updated Independent Competent Persons’ Report on the Moeijelik Chromite Mineral Asset, please click on the below button.



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