Kasbah Resources Company Profile

Kasbah Resources

AN AUSTRALIAN LISTED MINERAL EXPLORATION AND DEVELOPMENT COMPANY ADVANCING THE ACHMMACH TIN PROJECT IN THE KINGDOM OF MOROCCO TO DEVELOPMENT
Company Exposure

Tin

Company Listing

Kasbah Resources

Stock Code

ASX:KAS

Company Overview



Kasbah Resources is an Australian Securities Exchange listed (ASX: KAS) mineral resources company focused on developing the world class Achmmach Tin Project in Morocco into a large scale, long term and low cost tin mining operation. The Achmmach Project represents one of the few globally significant fully permitted, near-term production tin projects, and it is located in a safe, non-conflict jurisdiction. The Company aims to become a producer of high quality tin concentrates at Achmmach, and leverage its exploration and development expertise to expand its portfolio of high quality tin assets.

Investment Highlights

  • Core project: the Achmmach Tin project is one of the world’s largest and most advanced tin development projects; located in Morocco, a mining-friendly, non-conflict jurisdiction in northern Africa – providing a gateway to major European markets.
  • The Achmmach Project is fully permitted with an approved Environmental and Social Impact Assessment (ESIA) and a new Definitive Feasibility Study (DFS) is due in H1, 2018 – will provide the basis for development and financing of the Project into a major tin mining operation
  • Achmmach has a total tin Ore Reserve of 6.56Mt @ 0.85% Sn for 55,500t of contained tin which will support an initial 10 year mine life with projected 2nd lowest quartile production costs, producing 4,500tpa Sn in a premium 55% concentrate – equivalent to ~1.5% of global tin production. The ore body has excellent exploration potential as it remains open on strike and at depth. The 100% Bou El Jaj tin project, 13km south, also has great potential to become a satellite mine providing additional ore to the Achmmach processing plant.
  • Strong tin outlook: rising tin prices driven by demand growth and declining production in major global tin producing jurisdictions – this, coupled with significant recent under-investment in tin exploration and a leverage to growth in new battery technology markets, leaves Kasbah well placed to meet future demand.
  • New board and management team focused on taking the Achmmach Project into production and delivering value for shareholders, backed by supportive institutional and industry investors.
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Team

John Gooding – Non-Executive Chairman
Russell Clark – Chief Executive Officer
Graham Freestone – Non-Executive Director
Graham Ehm  – Non-Executive Director
Hedley Widdup – Non-Executive Director – African Lion nominee
Martyn Buttenshaw – Non-Executive Director – Pala Investments nominee
Evan Spencer – Chief Operating Officer
Keith Pollocks – Chief Financial Officer

Major Shareholders

Pala Investments – 21.6%
Lion Africa – 13.7%
Acorn Capital – 4.8%
Thaisarco – 4.6%
Traxys – 4.3%
Board Management – 7%
Top 20 Shareholders – 63%

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Projects Overview


Achmmach Tin Project

  • The Achmmach Tin Project is a Joint Venture between KAS 75%, Toyota 20% and Nittetsu Mining 5%
  • Is proposed to be developed via underground mining with conventional processing
  • Initial project mine life will be 10 years producing a premium quality 55% tin concentrate at the rate of 4,500 tonnes of tin per annum
  • Detailed project enhancing testwork program underway – including the application of Ore Sorting and High Pressure Grinding Rolls (HPGR) to significantly enhance project economics

 

Indicative Project Timeline
  • Mining Permits granted and ESIA approved
  • New DFS – Q2, 2018
  • Financing activities – 2H, 2018
  • First production – First half 2020
Schematic Of Achmmach Deposit

Ore Sorting To Deliver Significant Enhancements To Project Economics

Kasbah completed a highly successful 2 tonne bulk sample Ore Sorting program with run-of-mine ore from the Achmmach Project in Q1, 2018

Key outcomes included:

  • Improved ore grades into the processing plant
  • Reduced throughput through the processing plant
  • Reduced tailings space required
  • Opportunity to re-optimise the mine plan
  • Improved Project economics

 

Achmmach – A Globally Significant Tin Resource
  • Project has been extensively explored and drilled – 120km of drilling completed
  • Total JORC 2012 Mineral Resource of: 14.9Mt @ 0.85% Sn for 127,300t of contained tin
  • 2016 JORC Ore Reserve of: 6.56Mt @ 0.85% Sn for 55,500t of contained tin
  • Exploration upside potential: Project open at depth and along strike and multiple parallel lodes present

Commenting on the Ore Sorting results, Kasbah CEO Russell Clark said:
“The outstanding results confirm that ore sorting technology is appropriate for use at the Achmmach Project and its application should deliver robust project economics. The advantages of ore sorting are considerable; the processing plant can be smaller ensuring reduced capital costs, reagent, power and water use will all reduce as will tailings production, resulting in a smaller tailings facility and reducing costs further. Our testwork is almost complete and we remain on track to produce a new DFS at Achmmach in the first half of 2018.”

 

Achmmach Ore Reserve

Achmmach Mineral Resource

Contact Details

WEBSITE: www.kasbahresources.com

EMAIL: james@mandatecorporate.com.au

PHONE: +61 (0) 420 991 574

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