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ferrex plc (FRX) Snapshot

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03/17/14 - 2.25 GBp
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ferrex plc (FRX) Details

Ferrex Plc engages in the identification, acquisition, exploration, and development of iron ore and manganese projects in Africa. It primarily holds 82% interest in the DSO Mebaga iron ore deposit, which covers an area of approximately 309 square kilometers located in Gabon, West Africa; 85% interest in the Nayega manganese project consisting of five exploration permits covering an area of approximately 92,390 hectares located in northern Togo; and 74% interest in the Malelane iron project that covers an area of approximately 4,192 hectares located in the Mpumalanga region in South Africa. Ferrex Plc was incorporated in 2010 and is based in London, the United Kingdom.

12 Employees
Last Reported Date: 03/6/14
Founded in 2010

ferrex plc (FRX) Top Compensated Officers

Managing Director and Director
Total Annual Compensation: 125.0K GBP
Finance Director and Director
Total Annual Compensation: 75.0K GBP
Compensation as of Fiscal Year 2013.

ferrex plc (FRX) Key Developments

Ferrex Plc Provides Nayega Manganese Togo Project Exploration Update

Ferrex Plc announced a positive exploration update from pit sampling aimed at increasing the current combined Measured and Indicated mineral resource of 11.0Mt at the reta of13.1% Mn at the 92,390Ha Nayega Manganese Project ('Nayega' or 'the Project') located in northern Togo held through Societe Generale de Mines. The Company recently announced proposals for a two-phase development programme at Nayega where an initial low-cost 250,000 tonnes per annum open-pit mine producing a 38% marketable manganese product, which the Company has already demonstrated as having strong economics, followed by a second phase smelting facility to produce a valuable 74% High Carbon Ferromanganese alloy in the medium term. Positive exploration results from pit sampling (49 pits for 171.5m) at two priority targets in the vicinity of Nayega - T48 and T27; best intercepts include: Target T48, located 1km northwest of the Nayega deposit: 2.8m at the reta of 23.1% Mn from surface; 1.9m at the reta of 23.0% Mn from surface; 1.15m at the reta of 19.4% Mn from surface; Target T27, located 7km east-northeast of the Nayega deposit; 1.4m at the reta of 13% Mn from surface; 1.15m at the reta of 11.8% Mn from surface; 2.23m at the reta of 11.7% Mn from surface; Additional pitting aimed at defining new JORC Code compliant resources for the two target areas will commence later this month; T48 exploration target of 100-200Kt at the reta of 15-20% Mn - has the potential to provide initial, easily-accessible high grade manganese ore to feed the 250,000 tpa production development; T27 exploration target of +1Mt at the reta of 8-12% Mn - has the potential to provide additional feed to extend the life of the operation; Reconnaissance work is ongoing to ascertain the wider value potential of Nayega deposit. Assay results have been received for all of the samples, with significant manganese intercepts returned in 9 of 13 pits dug in the T27 area. The best intercepts include: 1.4m at the reta of 13% Mn, 1.15m at the reta of 11.8% Mn and 2.16m at the reta of 10.8% Mn, with Mn values ranging up to 15.2% over half a metre. Mineralisation is up to 2m thick, comprising manganiferous cobbles hosted in transported laterite grading 7-13% Mn over sampled intervals. Pits have intersected this material over an area in excess of 800m east-west by 200m north-south, with mineralisation closed off to the west. Mineralisation is open to the east and south, possibly concealed beneath barren laterite. Planned pitting will test for extensions to identified mineralisation and target an additional resource in excess of 1 million tonnes at the reta of 8-12% Mn.

Ferrex Plc Presents at Proactive Investors One2One Forum, Oct-16-2014

Ferrex Plc Presents at Proactive Investors One2One Forum, Oct-16-2014 . Venue: Chesterfield Mayfair Hotel, 35 Charles St, Mayfair, London W1J 5EB, United Kingdom.

Ferrex Plc Announces Nayega Manganese Project Update

Ferrex Plc provided a strategic update from the 92,390Ha Nayega Manganese Project held through Societe Generale de Mines, located in northern Togo. The Company is focussed on maximising the returns achievable from the Project and accordingly, will initiate a two phased approach in its development. The first phase is focussed on developing a low-cost 250,000 tonnes per annum, 38% marketable manganese product open-pit mine in the near-term, and the Company provides an update in respect to the Definitive Feasibility Study ('DFS') below. Phase two will see the Company develop an in-country smelting facility to produce a valuable High Carbon ('HC') Ferromanagnese alloy in Togo in the medium-term.


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