Discovery of canga iron ore on Plateau 1 following identification of potential from satellite imagery
Discovery of canga iron ore on Plateaux 2 & 3
Granting of Permit de Recherche A2012/009/DIGM/CPDM for 104 km²
Commenced reconnaissance drilling campaign on Plateau 2
Completion of Ground Penetrating Radar Survey on Plateaux 1, 2 and 3 and camp construction completed
Assay results confirm potential Direct Shipping Ore tonnage up to 200Mt @ >58% Fe
Commenced resource evaluation infill drilling on Planetaya area of Plateau 2
Commenced metallurgical test work
Metallurgical test work indicates that simple crush and screen processing will produce premium quality DSO product
Maiden JORC compliant resource declared — 121.5Mt @ 57.8% Fe
Exploration Target of up to 80Mt of canga material delineated on mineralised extension
Increased JORC Resource to 135.5Mt @ 59.4% Fe
Mining Licence awarded by the Government of the Republic of Guinea
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.
Increased JORC Resource to 178.4Mt @ 59% Fe
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.
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.
Completed positive Preliminary Feasibility Study underscoring the high grade ore and low capital cost project fundamentals.
JORC Resource increased to 181.8Mt at an in-situ grade of 58.8% Fe estimated at a Fe cut-off of 40%.
Infrastructure Development Agreement with the Government of Liberia to enable utilisation of the established rail corridor between Yekepa and the Port of Buchanan.
JORC Resource increased to 205.2Mt at an in-situ grade of 57.8% Fe estimated at a Fe cut-off of 40%.