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Amex Resources LTD - MBA Delta Ironsand Project Update - 09 September 2011
Amex Resources LTD - MBA Delta Ironsand Project Update - 09 September 2011
Amex Resources LTD - MBA Delta Ironsand Project Update - 09 September 2011
The Manager Company Announcements Office Australian Securities Exchange Exchange Centre th 4 Floor, 20 Bridge Street Sydney NSW 2000
COMPANY ANNOUNCEMENT
9 September 2011
Dear Sir,
Mining Lease application over 220 million tonne Indicated Resource Meetings conducted with Fiji Government and Reserve Bank (Fiji) Work commenced at Lautoka Port Off-take negotiations in China further advanced
Amex Managing Director Matthew Collard presenting to Governor of the Reserve Bank (Fiji), Mr Barry Whiteside.
9 September 2011
Government Meetings
During August, the Company had the opportunity to present to the Prime Minister (Commodore Josaia Bainimarama) and Attorney-General (Mr Aiyaz Sayed-Khaiyum) an update on the Mba Delta Ironsands Project. The meeting was a valuable opportunity to explain components of the Pre-Feasibility Study, the proposed timeline for commencement of operations, before the end of 2012, and the progress that has been made by the Company in regards to potential off-take customers, primarily focused in China. In addition, Amex Managing Director Matthew Collard last week presented to the Governor of the Reserve Bank (Mr Barry Whiteside) in Suva, to provide a background on the commodity to be produced and the potential revenues, operational costs, employment benefits and construction variables.
Lautoka Port
The Company has obtained appropriate consents from both the Minster of Lands and the Director of Lands to complete execution of the Lautoka Port facility lease option as announced in the recent Quarterly Report, and made the initial rental payment at the start of August 2011. Since gaining access to the site, surveying works have been conducted as preparation for full-scale construction activities of the stockpile and berthing facilities.
Amex has secured 5.9ha site at Lautoka, Fijis largest bulk commodity port
9 September 2011
Off-take negotiations
Amex General Managers, Dr Chris Ure and Eileen Hao, have continued to advance off-take discussions in China, conducting meetings with the following steel mill companies in China in the last two weeks: Chendge Steel (confirmation letter attached regarding test work) Rizhao Steel Nanjing Iron & Steel Group These companies are all current major consumers of New Zealand ironsand and understand the requirements and specifications of the concentrate being produced. The Company looks forward to further updating shareholders as work continues on both the Bankable Feasibility Study and development of the Mba Delta ironsands Project. Yours faithfully, Matthew Collard
Managing Director
9 September 2011
Corporate Information
Directors
Mr Dudley J. Kingsnorth Mr Matthew J. Collard Mr Timothy S. Putt Mr Yibo Qiu Non-Executive Chairman Managing Director Technical Director Non- Executive Director
Investor Relations
Enquiries concerning this Report may be directed to: Tim Putt Technical Director or Tel: +61 (0) 8 9480 0455 David Michie Mosaic Reputation Management Tel: +61 (0) 8 9381 4494 Company Secretary
Company Secretary
Mr Gary Dunlop
Issued Capital
At 31 August 2011, Amex had 573 shareholders with issued capital of 63,700,000 fully paid ordinary shares, and 6,500,000 unlisted options.