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Globe Metals & Mining Limited is a Perth based company listed on Australian Stock Exchange (ASX Code: GBE)
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Globe's principal exploration focus is to advance the Kanyika Niobium Project.
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The Kanyika Niobium Project is regarded as the 5th largest undeveloped niobium resource in the world.
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The Kanyika Niobium Project host to a 2004 JORC compliant Mineral Resource Estimate of 68.3M tonnes of Nb2O5 using a 1,500 ppm Nb2O5 cut-off (refer ASX announcement dated 7 January 2013).
Investment Summary
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100% interest held on projects in Malawi (Africa) including niobium, graphite and rare earths
Directors and Management
Ms Alice Wong - Non-Executive Chairperson Mr Alistair Stephens - Managing Director Mr William Hayden - Non-executive Director Mr Bo Tan - Non-executive Director
Mr Alex Ko - Non-executive Director
Capital Structure
Shares on Issue: 469,729,062 Options on Issue: 4,000,000 (various) 52 week range: $0.021 - $0.043
Last Price (30/10/2015): $0.025
Market Capitalisation: $11.743 million
Substantial Shareholders
Apollo Metals : 52.37%
Ao-Zhong International Minerals: 25.15%
Contact
Alistair Stephens Managing Director [email protected] T: +61 (0)8 9327 0700
September Quarter 2015 Review of Operations
Highlights
Kanyika Niobium Project
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Malawi Ministry of Natural Resources, Energy and Mining notified Globe of Mining Lease approval for Kanyika subject to completion of a Development Agreement.
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Malawi Ministry of Natural Resources, Energy and Mining approved an Exclusive Prospecting Licence over an area adjacent to Mining Lease area prospective for niobium and tantalum, and rare earths elements.
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Work during the quarter was predominantly focussed on the consideration of a range of project financing options in addition to activities associated with finalisation of the Development Agreement.
Chiziro Graphite Project
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Formal agreement reached allowing Globe access to the Katengeza prospect; which was previously excised from the Project area by Malawi Ministry of Natural Resources, Energy and Mining.
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Work during the September Quarter focussed around initial assessment of the Katengeza Prospect, and planning of future work programs.
Corporate & Finance
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Cash at bank and in term deposits at 30 September 2015 of $15.30 million.
Globe Metals & Mining Ltd | Suite 1, Level 1, 35 Havelock Street, West Perth, WA, 6005 | PO Box 1811 West Perth WA 6872 | P: +61 8 9327 0700
Globe Metals & Mining Limited (ASX Code: GBE) ('Globe' or 'the Company') hereunder provides its activities report for the quarter ended 30 September 2015.
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Overview of Exploration Activities
Globe's focus of operations is in Malawi (see Figure 1 below) located in the south-east Africa. Globe's most advanced project is the Kanyika Niobium Project (KNP), containing a niobium (Nb) and tantalum (Ta) resource - refer Section 2.1 for full details.
Niobium and tantalum are key additives in steel manufacture, electronics and ceramics.
At Globe's KNP, a resource estimated sufficient to sustain a 20-year mine life has been defined, however, the Company continues to explore its licence for further Nb-Ta resources.
In addition to KNP, Globe has three other exploration projects in Malawi as follows:
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Chiziro Graphite Project - in 2014 Globe completed 6,266 metres of trenching at its Chimutu Prospect and in the process outlined six kilometres strike of high-grade graphite mineralisation. Mapping and rock chip sampling has located further prospects for graphite mineralisation. Favourable preliminary metallurgical test work has been reported on previously by Globe.
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Machinga Rare Earths Project -an early stage exploration project with soil sampling programs having outlined rare earth element (REE) and a Nb-Ta mineralisation.
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Salimbidwe Rare Earths Project -an early stage exploration project with rare earth potential.
Figure 1- Malawi Projects Location Map.
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Kanyika Niobium Project
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Overview
Globe has been undertaking exploration and resource development activities at Kanyika since 2007 and in 2011 made the decision to proceed to undertaking a Definitive Feasibility Study (DFS).
As part of undertaking the DFS process an updated Mineral Resource was completed and on 7 January 2013 Globe made a release to the ASX stating a mineral resource inventory of 68.3M tonnes (equivalent) of Nb2O5 using a 1,500 ppm Nb2O5 cut-off (refer Tables 1 & 2 below). No additions or changes have been made to this resource statement and it complies with the 2004 JORC guidelines for mineral resource statements as made in that release, (please refer to the 'Competent Persons Statement' section).
Table 1: Mineral Resource Estimate for Kanyika using a 1,500 ppm Nb2O5 lower cut
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Category
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Million Tonnes
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Nb2O5 ppm
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Ta2O5 ppm
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Measured
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5.3
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3,790
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180
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Indicated
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47.0
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2,860
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135
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Inferred
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16.0
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2,430
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120
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Total
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68.3
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2,830
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135
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Table 2: Mineral Resource Estimate for Kanyika using a 3,000 ppm Nb2O5 lower cut
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Category
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Million Tonnes
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Nb2O5 ppm
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Ta2O5 ppm
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Measured
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3.4
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4,790
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220
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Indicated
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16.6
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4,120
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190
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Inferred
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2.8
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4,110
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190
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Total
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22.8
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4,220
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190
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Mining Licence Application and Development Agreement (DA) Negotiations
Globe received notice during the June 2015 quarter from the Malawi Ministry of Natural Resources, Energy and Mining that it had approved Globe's application for a Mining Lease (ML) at Kanyika subject to a Development Agreement (DA) being completed.
The Mining Licence (ML) covers the Kanyika Nb-Ta resource, and all areas covering proposed mine infrastructure and prospective exploration areas.
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Kanyika Definitive Feasibility Study
Globe has progressed discussions with several groups interested in purchasing niobium and tantalum products from Kanyika, with the view to develop long-term product off-take agreements.
The Kanyika Economic Study has been revised to include results from the 2014 Kanyika concentrator pilot plant programme. The Study remains incomplete until costed product off-take agreements are established.
Globe continues to examine opportunities for project enhancement, including reconfiguration of project arrangements.
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Prospecting Licence Application
As reported in the June 2015 quarterly report, Globe made application for an Exclusive Prospecting Licence over an area of prospective for Nb-Ta and Rare Earth Elements adjacent to the Kanyika Mining Lease.
During the September 2015 quarter this application (EPL0421/15) was granted to Globe by the Malawi Ministry of Natural Resources, Energy and Mining.
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Kanyika Exploration Activities During This Quarter
During the quarter, several zircon samples were collected. The samples form part of an analytical review of the zircon potential of the KNP. Assays results are pending.
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Chiziro Graphite Project
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Overview
The Chiziro Graphite Project is located to the north-east of the city of Lilongwe in Malawi and comprises Exploration Prospecting Licence (EPL0299).
Globe has defined a six kilometre strike of high-grade graphite mineralisation. Mapping of other areas within the tenement area has identified additional areas of interest including the Katengeza and Dowa prospects.
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Chiziro Exploration Activities during this Quarter
Work during the quarter was focussed on the Katengeza prospect.
Formal agreement was reached during the quarter allowing Globe access to the Katengeza prospect paving the way for exploration work to commence. Katengeza was previously excised from the Project area by Malawi Ministry of Natural Resources, Energy and Mining.
The Katengeza prospect is located in the eastern part of the Chiziro project area. It is favourably located within 2 kilometres of a rail siding on the Lilongwe to Nacala (port in Mozambique) railway.