ASX RELEASE
1 September 2015
About Globe
Globe Metals & Mining Limited is a Perth based company listed on Australian Stock Exchange (ASX:GBE)
Globe's Kanyika Niobium Project (Malawi) is regarded as the 5th largest undeveloped niobium resource in the world.
The Kanyika Niobium Project is host to a
2004 JORC compliant Mineral Resource Estimate of 68.3M tonnes containing extractable Nb2O5, Ta2O5 and U3O8 (refer ASX announcement dated 7 January 2013).
Globe's Chiziro Graphite Project (Malawi) is highly prospective for high-grade graphite mineralisation. This Project is in the early stages of exploration.
Investment Summary
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 Directors
Mr Alex Ko - Non-executive Directors
Capital Structure
Shares on Issue: 469,729,062
Options on Issue: 7,800,000 (various)
52 week range: $0.021 - $0.053
Last Price (31/08/2015): $0.022
Market Capitalisation: $10.334 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
Chiziro Graphite Project
Agreement Executed over Katengeza Prospect
Globe Metals & Mining Limited (Globe) advises that it has concluded an agreement with the Malawi Ministry of Natural Resources, Energy and Mining (MNREM) providing it with exploration and mining access rights to the historic Katengeza Graphite Prospect.
The MNREM excised a significant section of the Katengeza Graphite Prospect from Globe's Chiziro Exclusive Prospecting Licence when it was first issued in order to promote studies of graphite mineralisation in Malawi and to ascertain whether there was potential to generate a 'cottage' industry for Malawians.
The Katengeza Graphite Prospect was investigated for graphite potential during the colonial era (pre-1964) and has been subsequently mined intermittently by local prospectors.
The Katengeza Graphite Prospect is traversed by the sealed Lilongwe
- Salima highway and nearby to the Lilongwe - Nacala (Mozambique port) railway line. It is also adjacent to power. The close proximity of this infrastructure greatly enhances the Katengeza Graphite Prospect's potential.
Globe has undertaken a preliminary assessment of the Katengeza Graphite Prospect which has included mapping and rock chip sampling. Initial results indicate high-grade graphite mineralisation equivalent to that at the Company's Chimutu Graphite Prospect, both within Globe' Chiziro Graphite Project licence area.
On the basis of the initial results, Globe is currently preparing plans to undertake further assessment of the Katengeza Graphite Prospect.
Globe would like to express its sincere gratitude to the Government of Malawi for its willingness to cooperate with the private mining sector to develop the Country's projects, which will be of benefit to all Malawians.
END
Globe Metals and Mining Ltd | Level 1, 35 Havelock Street, West Perth, WA, 6005 | PO Box 1811 West Perth WA 6872 | P: +61 8 9327 0700 F: +61 8 9327 0798 web: globemetalsandmining.com.au | Email: [email protected] | ABN 33 114 400 609 | AS X:GBE