Huandot Magnesite Deposit EL 27724, 2014 Annual Report for the period 7 May 2013 to 6 May 2014

Abstract

In the second term of the renewed licence tenure (this annual reporting period) the primary objectives were to advance the project to a higher level of engineering study. A Mine Scoping Study was carried out by CSA Global and it reiterates that the Huandot magnesite is suitable for most end use applications as defined by the previous year's test work. It concluded that the deposit remains open and that it can be mined using conventional open pit methods. Importantly, the study highlighted that the project has the potential to be developed into an economically viable mine operation should a suitable customer base be secured.