Second Annual Report for the period 11 August 2015 to 10 August 2016 EL 30226 Dhupuma Plateau

Abstract

During the reporting period exploration focussed on completing a second stage of drilling on the Dhupuma Plateau comprising 226 vacuum-lift drill holes for 602.25 metres for resource confirmation and mine planning purposes and to test potential extensions to mineralisation. Following the drilling a resource estimate was completed. A Scoping Study on the mining aspects of the Dhupuma bauxite project was completed and included preliminary: Mine production scheduling, Cost and productivity modelling and Cashflow modelling. The bauxite resource was modified to account for mining parameters such as loss and dilution leading to a mining inventory of 6.8Mt at 49.1% Al2O3 and 7.1% SiO2.