Project Chronology

 

August 2011

Discovery of canga iron ore on Plateau 1 following identification of potential from satellite imagery

October 2011

Discovery of canga iron ore on Plateaux 2 & 3

January 2012

Granting of Permit de Recherche A2012/009/DIGM/CPDM for 104 km²

April 2012

Commenced reconnaissance drilling campaign on Plateau 2

June 2012

Completion of Ground Penetrating Radar Survey on Plateaux 1, 2 and 3 and camp construction completed

July 2012

Assay results confirm potential Direct Shipping Ore tonnage up to 200Mt @ >58% Fe

September 2012

Commenced resource evaluation infill drilling on Planetaya area of Plateau 2

November 2012

Commenced metallurgical test work

December 2012

Metallurgical test work indicates that simple crush and screen processing will produce premium quality DSO product

February 2013

Maiden JORC compliant resource declared — 121.5Mt @ 57.8% Fe

May 2013

Exploration Target of up to 80Mt of canga material delineated on mineralised extension

September 2013

Increased JORC Resource to 135.5Mt @ 59.4% Fe

September 2013

Mining Licence awarded by the Government of the Republic of Guinea

October 2013

Export Decree awarded by the Government of the Republic of Guinea authorising CGH to mine and export iron ore through Liberia to the Port of Buchanan.

November 2013

Increased JORC Resource to 178.4Mt @ 59% Fe

November 2013

Memorandum of Understanding signed with Government of Liberia to conduct due diligence, third party discussions and negotiations with a view to entering into a binding infrastructure development agreement relating to the development, use and operation of rail and port infrastructure.

March 2014

Maiden JORC Reserve of 53.96Mt @ 61.6% Fe - calculated on August 2013 JORC Resource of 135.5Mt, so significant opportunity to increase reserve based on increased November JORC Resource.

March 2014

Completed positive Preliminary Feasibility Study underscoring the high grade ore and low capital cost project fundamentals.

April 2014

JORC Resource increased to 181.8Mt at an in-situ grade of 58.8% Fe estimated at a Fe cut-off of 40%.

January 2015

Infrastructure Development Agreement with the Government of Liberia to enable utilisation of the established rail corridor between Yekepa and the Port of Buchanan.

February 2015

JORC Resource increased to 205.2Mt at an in-situ grade of 57.8% Fe estimated at a Fe cut-off of 40%.