MOEIJELIJK

CHROME MINE

Bauba diversified its business into a low-cost, cash-generative, mining operations in 2015 with the Company acquiring 60% of the beneficial rights to the Moeijelijk Chrome Mine.

The operation is efficient, low-cost and cash-generative and through the exploitation of its near-surface and underground chrome resource, delivering a run-of-mine chrome-ore and concentrate chrome from its washing plant to China.

TO DATE BAUBA HAS:

Engaged and successfully worked with a reputable chrome-ore open cast mining operator;

Contracted with a reputable underground mining operator, to mine underground LG6 ROM chrome-ore per month;

Put in place a chrome-ore off-take agreement for the supply of chrome-ore to China; and

Established a wash plant that produces foundry, chemical and metallurgical grade concentrates for export around the world.

MINERAL RIGHTS

Moeijelijk is situated on the Eastern Limb of the Bushveld Igneous Complex in the Province of Polokwane, approximately 57km northwest of Burgersfort with LG6A/6 and LG7 chrome ore-bearing reefs.

The existing mining right was granted in July 2016 to mine chrome-ore on the Moeijelijk farm situated in the Fetakgomo Local Municipality. Recently, a S102 application with DMR was granted to extend the opencast operations and to incorporate a wash plant onto the existing Mining right.

FUTURE PLANS

Cash generated from this project will be used to:

  • Declare potential dividends to Bauba’s shareholders;
  • Self-finance the development of our existing low-cost mines;
  • Fund the pursuance of additional mining projects; and
  • Progress the Bauba Platinum Project

Independent Competent Persons’ Report

Bauba has completed an exploration programme with the intention of estimating a maiden Mineral Resource for the Moeijelijk Chrome Project incorporating the drilling programme results and the maiden Mineral Resource.

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