MBA DELTA IRONSANDS PROJECT - UPDATE ANNOUNCEMENT TO AUSTRALIAN SECURITIES EXCHANGE

Transcription

1 AMEX RESOURCES LIMITED (ASX: AXZ) COMPANY ANNOUNCEMENT 9 September 2011 The Manager Company Announcements Office Australian Securities Exchange Exchange Centre 4 th Floor, 20 Bridge Street Sydney NSW 2000 Dear Sir, MBA DELTA IRONSANDS PROJECT - UPDATE ANNOUNCEMENT TO AUSTRALIAN SECURITIES EXCHANGE Amex Resources Limited ( Amex ) is pleased to update shareholders on the Company s recent advancements towards development and production of magnetite concentrate from its 100% owned MBa Delta Ironsands Project in Fiji as follows: Mining Lease application over 220 million tonne Indicated Resource Meetings conducted with Fiji Government and Reserve Bank (Fiji) Work commenced at Lautoka Port Off-take negotiations in China further advanced Amex Managing Director Matthew Collard presenting to Governor of the Reserve Bank (Fiji), Mr Barry Whiteside.

2 9 September 2011 Mba Delta Mining Lease Application A Special Mining Lease (SML) application was lodged at the Mineral Resources Department, Suva on 31 August 2011 over a portion of the existing special prospecting licence (SPL 1463), and is currently being processed. The SML covers the entire 220 million tonne Indicated Ironsands Resource, is square kilometers in area and is for the maximum term of 21 years (renewable). A detailed hydrographic survey was conducted by the Fijian Navy over the Mba Delta lease area of offshore tidal mudflats and adjacent shallow lagoon and this was submitted as part of the application, together with the recently completed Pre-Feasibility Study and EIA (environmental impact assessment) report. Government Meetings During August, the Company had the opportunity to present to the Prime Minister (Commodore Josaia Bainimarama) and Attorney-General (Mr Aiyaz Sayed-Khaiyum) an update on the Mba Delta Ironsands Project. The meeting was a valuable opportunity to explain components of the Pre-Feasibility Study, the proposed timeline for commencement of operations, before the end of 2012, and the progress that has been made by the Company in regards to potential off-take customers, primarily focused in China. In addition, Amex Managing Director Matthew Collard last week presented to the Governor of the Reserve Bank (Mr Barry Whiteside) in Suva, to provide a background on the commodity to be produced and the potential revenues, operational costs, employment benefits and construction variables. Lautoka Port The Company has obtained appropriate consents from both the Minster of Lands and the Director of Lands to complete execution of the Lautoka Port facility lease option as announced in the recent Quarterly Report, and made the initial rental payment at the start of August Since gaining access to the site, surveying works have been conducted as preparation for full-scale construction activities of the stockpile and berthing facilities. Amex has secured 5.9ha site at Lautoka, Fiji s largest bulk commodity port 2

3 9 September 2011 Off-take negotiations Amex General Managers, Dr Chris Ure and Eileen Hao, have continued to advance off-take discussions in China, conducting meetings with the following steel mill companies in China in the last two weeks: Chendge Steel (confirmation letter attached regarding test work) Rizhao Steel Nanjing Iron & Steel Group These companies are all current major consumers of New Zealand ironsand and understand the requirements and specifications of the concentrate being produced. The Company looks forward to further updating shareholders as work continues on both the Bankable Feasibility Study and development of the Mba Delta ironsands Project. Yours faithfully, Matthew Collard Managing Director Amex Resources Limited 3

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5 ACN Corporate Information Directors Mr Dudley J. Kingsnorth Mr Matthew J. Collard Mr Timothy S. Putt Mr Yibo Qiu Company Secretary Mr Gary Dunlop Non-Executive Chairman Managing Director Technical Director Non- Executive Director Company Secretary Investor Relations Enquiries concerning this Report may be directed to: Tim Putt Technical Director or Tel: +61 (0) David Michie Mosaic Reputation Management Tel: +61 (0) Shareholder Enquiries Registered and Principal Office IBM Building, Level Hay Street West Perth Western Australia 6005 Tel: +61 (0) Fax: +61 (0) Issued Capital Matters relating to shares held, change of address and tax file numbers should be directed to the share registry at: Security Transfer Registrars Pty Ltd PO Box 535 Applecross Western Australia 6953 Tel: +61 (0) ASX code: AXZ At 31 August 2011, Amex had 573 shareholders with issued capital of 63,700,000 fully paid ordinary shares, and 6,500,000 unlisted options. 5