Mine establishment began in the first week of January 2015, culminating in this blast which will produce approximately 15 000 tonnes of chrome ore at an expected grade of 39% chrome. The first delivery of run of mine chrome ore to ASA Metals Proprietary Limited will commence before the end of March 2015. The build up to the planned 20 000 tonnes of chrome ore per month is expected to be achieved within two months from start-up.
“This first blast represents a significant milestone for Bauba”, says Bauba Chief Executive Officer, Syd Caddy. “It truly announces the transformation of Bauba from a pure platinum exploration company to an exploration and production company. The chrome production will further ensure that funding becomes available to support the platinum exploration program and place the company in a position to declare dividends to its shareholders.”
Bauba is, in addition to its current Moeijelijk project, continually evaluating other potential chrome projects, with a view to potentially expanding its chrome footprint in the market place and thereby, if successful, further enhancing its free cash flow.