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Bass Metals Ltd

Publié le 26 juin 2007

Signs Key Que River Off-take Agreement with Zinifex

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Mots clés associés :   Copper | Zinc |

Bass Metals signs key Que River off-take Agreement with Zinifex
Dear all

Here it is the long awaited announcement regarding the Que River ore sales.

Bass Metals Ltd (ASX:BSM) is pleased to advise that it has today signed a Heads of Agreement (HOA) covering the terms and conditions of an Ore Sales & Purchase Agreement with Zinifex Australia Limited.� The HOA relates to ore produced from the Que River Stage 1 Mining Project, which would be trucked to Zinifex’s Rosebery plant.� The agreement is conditional on several items including:
  • completion of a 1,000t trial to verify metallurgical assumptions and logistical issues;
  • satisfactory management of community concerns by Zinifex regarding road haulage of the ore to Rosebery; and,
  • a $100,000 pre-payment from Zinifex to BSM.
This departure from the planned off-take agreement with the Hellyer Zinc Concentrate Joint Venture (HZCJV) has arisen due to changes in the operating parameters of the Hellyer plant from what was anticipated in December 2006.� The Hellyer plant is currently being fully utilised in treating the Hellyer tailings to produce a bulk zinc/lead/silver concentrate, but its circuit is not configured to recover gold and copper values also available from the Que River ore.� Thus, the HZCJV is not in a position to make payment based on the full value of the contained metals in the Que River ore, relative to the Hellyer tailings that are already freely available to it.

The Zinifex agreement generates improved margins, with payments received for all five contained metals (zinc, lead, copper, silver and gold).� The risk profile has also been improved as the Que River ore has a closer affinity to Rosebery ore than the finely ground tailings feedstock into the Hellyer plant.� Between 1978 and 1991 the Rosebery plant treated approximately 2.4 million tonnes of Que River ore.

Zinifex approached BSM earlier this year exploring ore purchase opportunities to utilise spare capacity at the Rosebery mill facilities.� This resulted in an ore off-take proposal with favourable terms to BSM, which is consistent with its previous revenue targets.

The focus for BSM now is to complete the ore trial through the Rosebery plant, which is expected to start within the next week and to finalise haulage and mining related contracts prior to making a final decision to mine.� Both Parties are keen and motivated to commence operations as soon as practicable.

The Rosebery processing option, although a significant divergence to recent plans, has always been in serious contention.� The Board of BSM is pleased that an opportunity has emerged to further develop the existing relationship with Zinifex for the shallow resources at Que River and other resources closer to Rosebery.� Zinifex and BML already have close ties through the Hellyer Exploration Alliance where the Parties are co-funding a $2.0M drilling programme targeting the discovery of new Hellyer-style deposits.

Aside from the shallow ore sources at Que River and targets in the vicinity of the historic Farrell mine earmarked for treatment at Rosebery, BSM is evaluating a number of its other gold and base metal resource targets with the potential for mine development.� These include the Mt Charter gold-silver deposit, remnant base metal mineralisation and resource targets at the decommissioned Hellyer Mine, and targets at the Magnet lead-zinc-silver mine near Mt Bischoff.� These targets all lie close to the Hellyer treatment facility owned by Intec Ltd, BSM’s largest shareholder, and BSM will continue to pursue longer term business opportunities with the operators of this facility.

If you have any questions or comments please contact me on 08 9322 8044 or email on�admin@bassmetals.com.au.

Thank you for your interest and support.

Kind regards


Mike

For further information, visit our website�www.bassmetals.com.au

Please refer any queries to:
Mike Rosenstreich, Managing Director

or

Claire Day, Administration Manager

Telephone: +61 8 9322 8044 Fax: +61 8 9481 2846
Email: admin@bassmetals.com.au

PRIVACY AND CONFIDENTIALITY NOTICE
The information contained in this message is intended for the named recipients only. It may contain confidential information and if you are not the intended recipient, you must not copy, distribute or take any action in reliance on it. If you have received this message in error please destroy it and reply to the sender immediately or contact me on the telephone number shown above.

Bass Metals Ltd

PRODUCTEUR
CODE : BSM.AX
ISIN : AU000000BSM8
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Bass Metals est une société de production minière de plomb et de zinc basée en Australie.

Bass Metals est productrice de plomb, de zinc, d'argent, de cuivre et d'or en Australie, en développement de projets d'argent, de cuivre, d'or, de plomb et de zinc en Australie.

Son principal projet en production est QUE RIVER MINE en Australie, son principal projet en développement est HELLYER MINE en Australie et ses principaux projets en exploration sont WHYTE RIVER, HEAZLEWOOD, STERLING VALLEY, MAGNET JV, LYNCHFORD JV, LEVEN RIVER JV, OONAH JV, MT CHARTER et FARRELL en Australie.

Bass Metals est cotée en Australie. Sa capitalisation boursière aujourd'hui est 417,3 millions AU$ (299,4 millions US$, 257,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 février 2011 à 0,47 AU$, et son plus bas niveau récent le 27 juin 2014 à 0,00 AU$.

Bass Metals possède 1 368 150 016 actions en circulation.

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Nominations de Bass Metals Ltd
28/08/2008Appointment of new Exploration Manager
Projets de Bass Metals Ltd
09/12/2011Commercial Robustness of Hellyer Gold Project
20/10/2011McKay High-Grade Hit
28/07/2010(Hellyer Mine)Positive Gold Processing Scoping Study Outcomes
27/01/2010(Hellyer Mine)to Develop its Second Base Metals Mine in Tasmania
18/08/2009(Hellyer Mine)Updated Fossey Zone Resource
23/06/2009(Hellyer Mine)Hellyer Mine Lease Transfer & Tails Resource Update
17/02/2009(Que River Mine)Que River Drilling Update
10/02/2009(Que River Mine)Que River Ore Reserve Upgrade
04/02/2009(Hellyer Mine)Fossey Zone Drilling Update
11/12/2008(Hellyer Mine)Expands Growth Horizons With Landmark $4m Hellyer Mill Acqui...
14/11/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
30/09/2008(Hellyer Mine)Fossey Zone Resource - Doubles Hellyer Resources
26/09/2008(Que River Mine)Delivers Maiden $1.8M Net Profit Underpinned by Strong Produ...
08/09/2008(Que River Mine)Hellyer & Que River Mine Update
19/08/2008Further Progress on High-Grade Polymetallic Mineralisation a...
01/07/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
23/06/2008(Que River Mine)Que River Mine Operations Update
02/05/2008 Fossey Zone - High Grade Drill Intercept
17/04/2008(Hellyer Mine)Hellyer Mine Project- High Grade Drill Intercept
10/03/2008Bass Metals: Fossey Zone, Hellyer - Further High Grade Assay...
27/02/200819 Metre High Grade Intersection at Fossey Zone, Hellyer
12/02/2008 Further High Grade Base Metal Intersections at Fossey Zone
Communiqués de Presse de Bass Metals Ltd
27/05/2016Bass Transaction Update
04/12/2015Bass Transaction Update 4 December 2015
18/09/2015Bass Metals Ltd Investment Update
29/12/201330.12.2013 Quarterly Activities Report
25/10/2011MD Interview =e2?? Quarterly and Capital Raising
25/10/2011September Quarterly Report - A Strong Recovery
13/10/2011Open Investor Forums - Brisbane, Sydney, Melbourne, Perth an...
15/09/2011Prospectus and Update Interview
20/07/2011Rebuilding Lost Value
15/06/2010European Investor Roadshow
11/06/2010New Broker Research from Intersuisse
29/01/2010December 2009 Quarterly Report Of Activities & Cashflow
05/10/2009Hellyer Toll Treatment Letter of Intent
28/09/2009Bass poised for strong growth after sharp increase in profit
14/09/2009Reaches Agreement to Extend Que River Ore Sales
30/07/2009June 2009 Quarterly Report
11/03/2009Delivers $4.5M First Half Profit on Strong Que River Perform...
24/12/2008Drilling Update
20/08/2008Iron, Tin & Tungsten - new Joint Venture
30/07/2008June 2008 Quarterly Activities Report
17/07/2008Metal - Hellyer Project Drilling Update - Fossey Zone Strike...
15/05/2008Exploration & Development Update
24/04/2008Stong March Qtly Report
24/04/2008Quarterly Activities Report - March 2008
31/01/2008December 2007 Quarterly Activities Report
21/12/2007Final Update for 2007
21/11/2007Patersons Research Report
26/06/2007Signs Key Que River Off-take Agreement with Zinifex
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