Ore testing work

Hi everyone

Immmelman's post from yesterday prompted me to go back and review the announcement on April 26 regarding Mintek's work done at the time.
As a reminder the findings were:


Mintek, a leading South African facility involved in minerals processing and metallurgical test work, has determined that the Company has an ability to produce three steel products at an on-site plant at Agbaja, including a finished product with iron content of more than 95% Fe.
The key findings of the test work were:

• Confirmation of the ability to successfully use Agbaja ore to produce three distinct products with high Fe content.
• Confirmation of the ability to reduce impurities to levels acceptable for steel production.
• The opportunity to supply a product for more than one type of steel production, broadening the range of potential customers.

The results are significant because they confirm to the Company that its planned iron processing plant at Agbaja can produce the intended products – sponge iron, pig iron and the more valuable product - steel.


We clearly are awaiting specifics and the detail from this latest round of testing but I think its important to remind ourselves that Mintek did test the ore last year and the results were positive and indicated a viable proposition!
Its just a matter of how viable it will all be so I will leave you with one other comment from this announcement from last year:


However, in combination with the unique blend of oolitic ore from Agbaja it produces a high value product.
The Company’s current cost estimates (subject to confirmation in the Definitive Feasibility Study) are that steel products can be produced at Agbaja with a healthy operating margin.


Exciting times everyone! The market will wake up to this in due course, and that moment is fast approaching IMO

Good luck all