Sierra Leone Hard Rock Limited
Investment Summary
- 100% subsidiary of Obtala Resources, no local government equity stake or legacy partner issues
- Purchased for £4.2m in Obtala shares
- Compliments the Kopane (AIM:KDD) strategic investment and opens potential synergies
- Purchase includes 2Mtpa DMS, 2 Mobile DMS, mining and light vehicle fleet, man camp and associated services and infrastructure
- 4 Mining Licences (162.40km2) & 7 Exploration Licences (2,590.75km2)
- Average values of $260-450/ carat are well above world average
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| Konoma Operations Camp | Creating River Diversions | Top feed bin |
Sierra Leone
- A constitutional republic with a directly elected president
- Independent from UK since 1961
- Active growth in mining sector
- English official language
- In the global top-10 of diamond producing nations
- A major producer of gem-quality diamonds
- 6% diamond royalty
- Signed up to Kimberly Process
Mining Licence area at Konoma
The Opportunity & Upside
- Mine infrastructure in place with identified upside resource potential
- Processing plant and mining fleet in place
- Obtala takes 100% control, no project debt finance
- Skilled labour trained during previous mining operations
- 12,000g gold recovered during early operations with potential to upgrade this recovery
- Large tracts of mining licences remain unexplored with excellent exploration potential, including kimberlite drill targets already identified at Lake Popei
- Mining licences issued and valid to April 2014, renewable for another 10 years
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| DMS plant | Glove Box - Sorting Room | |
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| X-Ray sorters | On-site Maintenance Workshop |