CEO's Address to Shareholders
Sydney, Nov 30, 2016 AEST (ABN Newswire) - Broken Hill Prospecting Ltd (
ASX:BPL) is pleased to provide the company's CEO's Address to Shareholders at 2016 AGM.
Projects OVERVIEW
HEAVY MINERAL PROJECTS
- Murray Basin Strategy
- Establish pipeline of high-grade, low tonnage deposits
- Process through new technology mobile plant
THACKARINGA COBALT PROJECT
- Unlock shareholder value
- Significant domestic and international interest in emerging technology metal
- Cobalt Blue Holdings Ltd
2016 OVERVIEW
COPI NORTH
- Drilling (Feb 2016) - 78 holes
- Resource Estimate (July 2015 & May 2016)
- Base line environmental monitoring commenced (Feb 2016)
- Scoping Study (Feb 2016) - positive results
- Pre-feasibility study commenced with positive early results from bulk metallurgical testing. PFS due early 2017
MAGIC DEPOSIT
- Maiden Resource (Sept 2015)
Relentless Resources (RRL) provide final $0.5m payment to earn 50% interest in HMS Projects (Copi North, Magic & Sunshine)
Denis Geldard joins BPL Board (Aug 15). Project manager for Copi PFS
COBALT BLUE HOLDINGS LTD
- Spin-off of Cobalt Blue in an $8 to $10 million IPO to fund Thackaringa exploration and development plan
- BPL shareholders to receive in-specie distribution of BPL's Cobalt Blue shares, including loyalty options and priority entitlement in an IPO
- Post issue BPL shareholders will hold approximately 37% of the capital of Cobalt Blue
- Farm In & Royalty deal signed;
- 4 Stages to acquire 100% of Thackaringa over 4 years
- Total project investment: $10.3m
- Initial cash payment: $0.8m
- Final cash payment: $7.5m
- 2% Net Smelter Royalty on all future production
- Drilling commenced (Nov 2016)
2017 THE YEAR AHEAD
MURRAY BASIN HEAVY MINERAL SANDS
- Copi North Pre-feasibility Study due early 2017
- Drilling to commence on BPL's 100% tenements early 2017
- Technical review of the Murray Basin highlights opportunity to expand BPL's footprint
THACKARINGA COBALT PROJECT
- Cobalt Blue to complete Farm In Stage 1 by 30 June 2017
- $0.8m cash payment to BPL
- Define 100Mt JORC 2012 Resource
- Complete Scoping Study
- BPL to focus on base & precious metal exploration
To view the presentation, please visit:
http://abnnewswire.net/lnk/7UK7DQ95
About Broken Hill Prospecting Ltd
Broken Hill Prospecting Ltd (ASX:BPL) is an Australian exploration company focussed on the discovery and development of strategic mineral resources across two primary geographical areas; the Murray Basin Region (Heavy Mineral Sands) and the Broken Hill Region (industrial, base and precious metals, including the Thackaringa Cobalt & Base/Precious Metal Project).
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