African Min. Share Discussion Threads

[kirk 6] 16/12/2014 15:52

nosnibord - lse has the most I would say.

Fishyneck - glad you think its legitimate certainly seem like it.

[fishyneck] 16/12/2014 15:30

Good news over on the other board I guess but why has it taken so long for them to all get round the same table...big stakes at play here but the main players appear to be acting like spoilt children!!

[nosnibord] 16/12/2014 14:58

kirk6, and advfn isnt full of the same!?

Looks legit to me. Guess we'll find out next week.

[sweepie2] 16/12/2014 14:05

Video interview with CEO Nick Warrell



Nick Warrell, the chief executive of Sula Iron & Gold (LON:SULA), gives his views on the maiden iron ore resource from the Ferensola project in Sierra Leone.
Warrell repeats that the company has no plans to be a producer and would consider partnering with the owner of the neighbouring licences, African Minerals.

[kirk 6] 16/12/2014 13:07

check out lse someone on there has received an email saying BOD are trying to sort a deal. Not to sure how legitimate this is as LSE is full of mad speculation.

[earnestwipplethwaiteiii] 16/12/2014 08:40

Just goes to show how many BB experts there are, it's a wonder they're not snapped up by these know-nothing companies at a huge salary.

[hdb] 16/12/2014 08:16

They need to be close to 62 per cent iron ore content as Chinese do no want cheap grades even after a discount due to environmental concerns in the smelting process ..... Unless the ore can walk to china on its own then can't see how they would make money if the others with ready infrastructure like AMI can't today.

[earnestwipplethwaiteiii] 16/12/2014 07:58

Impossible to be so definitive. Nobody can say what the IO price will be in five years from now.

[sweepie2] 16/12/2014 07:23

("Sula" or the "Company")

MAIDEN MINERAL RESOURCE ESTIMATE DECLARED AT FERENSOLA

Total oxide resource of 55.5Mt @45.39% Fe represents easily accessible
mineralisation with a total resource of 514.5Mt @ 31.8% Fe

Deep exploration target outlined by SRK suggests further resource base

Sula Iron & Gold plc, the exploration and development company focused on iron
ore, gold and coltan in Sierra Leone, is pleased to announce a Maiden JORC
Compliant Mineral Resource Estimate at its 100% owned Ferensola iron ore
project in Sierra Leone ("Ferensola").

Highlights:

* Five distinct iron mineralised units, consisting of unique material zones
based upon characteristics and iron grades, have been identified at
Ferensola. Total JORC compliant Mineral Resources for each of the given
separate zones are:

+ Oxidised, laterite Cap : 8.3Mt @ 42.95% Fe;

+ Oxidised, high grade: 7.4Mt @ 56.71% Fe;

+ Oxidised, Saprolite: 8.1Mt @ 39.01% Fe;

+ Oxidised, Upper Saprolite: 31.7Mt @ 45.02% Fe; and

+ Fresh Magnetite ore: 459Mt @ 30.2% Fe.

* Total oxidised resource of 55.5Mt @ 45.39% Fe over the full 2.8km strike of
BIF1;

* Total Indicated mineral resource of 17.6Mt @ 45.6% Fe.

* Total Inferred mineral resource of 496.9Mt @ 31.3% Fe.

* Mineral Resource Estimate prepared by SRK who have in addition identified
an exploration target comprising an additional 100Mt to 250Mt, with a grade
range of between 20% Fe and 35% Fe that lies below the optimised pit shell.

NB. The Mineral Resource quoted above occurs entirely within the
licenseboundary and within an optimised pit shell though the pit shell itself
was not constrained by licenseboundary limitations.

Commenting on today's landmark news, Nick Warrell CEO of Sula, said:

"We are very pleased to update our shareholders and the market with our Mineral
Resource Statement.Back in 2013 we set ourselves the target of identifying a
500Mt iron ore resource and today'sresults reflectthe past two yearwork
programme. The total oxidised resource of 55.5Mt @45.39% Fe represents easily
accessible mineralisation at surface. This, coupled with exceeding the SRK ES
Exploration Target of 500Mt, is pleasing.

"Furthermore, the deep exploration target of 100-250Mt at BIF1 outlined by SRK
suggests that we can add further to the resource base."

To view a full version of the announcement, including figures and maps, please
visit the Company's website at: www.sulaironandgold.com.

Sula Iron & Gold plc [phone]
Nick Warrell / Matt Wood

Cairn Financial Advisers LLP (Nominated Adviser) [phone]
James Caithie / Avi Robinson

VSA Capital Limited (Broker) [phone]
Bhavesh Patel / Richard Buckle

Strand Hanson (Financial Adviser) [phone]
Simon Raggett / James Harris

Yellow Jersey PR (Financial PR) [phone]
Dominic Barretto / Kelsey Traynor

Project Background

The Ferensola License area lies largely within the rugged greenstone belt of
the southern Sula Mountain Range, approximately 20 km northeast of the town of
Bumbuna. Ferensola is an exploration project comprising a BIF with a
supergene-enriched oxide cap. Ferensola is thought to be a northerly extension
of the Kasafoni deposit, which is part of the Tonkolili Iron Ore Project, owned
by African Minerals Ltd, which lies directly to the south and adjacent to the
Ferensola licence.

[kirk 6] 15/12/2014 22:09

Bronco they haven't destroyed this yet

[seanywauny] 15/12/2014 20:40

The majors will no doubt group together to discuss a mutual reduction in ore output next year or they commit suicide.If you put a dash then paste the link then ADVFN doesn't alter the http.

[kirk 6] 15/12/2014 19:33

Casual thanks and hope so.

[casual47] 15/12/2014 19:27

"proceeds from the issue will be used to repay bank loan."

It's the same amount they tried to issue last week but delayed. Maybe this is them finally succeeding.

Kirk, replace hxxp with hTTp

Advfn automatically changes HTTP into hxxp. To avoid use capital Ts

[kirk 6] 15/12/2014 19:00

The link doesn't work

[kirk 6] 15/12/2014 19:00

Can you post article mate

[cantrememberthis2] 15/12/2014 18:53

hxxp://www.chinaknowledge.com/Newswires/NewsDetail.aspx?type=1&cat=FIN&NewsID=58470

seems sisg are still seeking monies not related to aml but an interesting development

lets hope admin is not happening just yet

[w1ndjammer] 13/12/2014 15:17

Humbug12
22 Nov'14 - 13:57 - 3874 of 4192 0 0


Speaking to a Mining contact in Mozambique about AMI i have been told that the china loan was in place to be released to the company to progress the Tonkolili mine.
Then FT bought London Mining which the 25% partner where not impressed with !! so have held back in forthcoming funding. There will be an Agreement for up to a 30% sale in AMI 75% stake more or less, This will the compromise that makes both parties happy. Expecting a near term announcement very shortly probably around middle of December they have no major concerns about the price of Iron ore or Ebola as 60 years mine life has time to change the market, Iron ore will go up and Ebola will be under control.

I am not a holder of AMI , BHR is is my holding and certainly one to watch next week

I dont post on any other sites so please post this if you can to help others

[newswseller] 13/12/2014 08:14

Post 3874 is of interest

[earnestwipplethwaiteiii] 13/12/2014 02:42

kirk - difficult to say, but perhaps because an RNS is supposed to announce definite news. With no definite news, we get an anodyne, legalistic phrase like today's.

[kirk 6] 12/12/2014 22:39

Newsletter so this could be a great deal for AMI nothing in today's RNs? Why????

[newswseller] 12/12/2014 22:15

Remember the FT markets live conversation, the deal mentioned was 25% for $500m.If this went to admin, then they would have to Bid against other parties, and if successful then still have to inject that promised $500m

[cantrememberthis2] 12/12/2014 21:30

Interesting chaps, cheers for the link.

I did not see that news report about SISG and the $500m inject to African Minerals as the title says rather than only for Tonkolili.

Think the sticking point is the amount of % they could be wanting in return for securing AMI future.

$500m for another 50%, leaving AMI with 25%?
It could e a matter of %s now and that the difficult issues...

Better than an Administration RNS!