The Pedra Branca PGM Project (“Pedra Branca Project”) (“The Project”) is an advanced stage exploration project located in Northeastern Brazil, with a JORC (2012) Compliant Resource of 1.0M oz of PGM+Au. The total project area covers 55,000 hectares, and includes 3 mining licences and 44 exploration licences with circa 55% of current JORC resource contained within the current mining licence. The deposits are at surface and amenable to low cost conventional open pit mining; with initial production targeted for Q3 2018.
The Project is accessed by a national paved highway from the port city of Fortaleza in the direction of Brazil’s capital, Brasilia. It is managed from a small established town, bordering the license areas. The town has all the required utility services including energy, water, telephone and internet access. The Project deposits are reached by gravel road and jeep track within a 20-km radius of the town.
The Project has significant resource upside potential. It already contains 11 additional drilled and confirmed PGM deposits and positive identification of significant chrome, rhodium, nickel, copper and vanadium-titanium mineralization.
Forecast platinum deficit for 2016 has been revised by 64,000 ounces from 455,000 ounces to 520,000 ounces by the World Platinum Investment Council.
South Africa (RSA), the world’s largest producer of PGMs, is forecast to decrease output by 6% year on year. The country produced 5.5 million ounces in 2006, 4.19 million ounces in 2016 and is expected to produce >4 million ounces in 2017. RSA capital investment in platinum production has also fallen from $4 billion to $1 billion over the past 7 years.
Platinum demand is expected to reach 9 million ounces by 2025, leaving a substantial supply gap without substantial increases in production capacity.
Demand for platinum jewelery in India expected to increase 20% year over year. Autocatalysts demand for PGMs as major markets continue to implement emissions controls and new regulations on auto emissions.
Brian is a member of the Institute of Chartered Accountants with 20 years’ experience in corporate reconstruction and turnaround and performance improvement. This includes numerous large mining reorganisations and turnarounds, and he has been instrumental in the recapitalisation and listing of more than 15 companies on the ASX, TSX and AIM. His experience includes working in the United States, South America, Asia, and Australia.
Non Executive Director
Luís is a geologist and lawyer with more than 25 years of business and mining experience in Brazil. He is an independent director of Brazil Minerals, Avanco Resources, Talon Metals and Harvest Minerals. He is the Managing Partner at FFA Legal, a legal firm he founded in Rio de Janeiro, Brazil, which is focused solely on natural resources companies. His practice is highly active in M&As for companies owning mineral assets and or operating mining enterprises in Brazil. His experience spans base metals, industrial minerals, diamonds, & precious metals.
Heinrich is a geologist, previously associated with Anglo American Platinum for almost 10 years. He was the MD of the Pedra Branca PGM project on behalf of AAP for four years from 2012. Most recently, he was involved in the exploration, commissioning and profitable operation of open pit, oxide PGM mines on the Bushveld Complex in South Africa. He has extensive knowledge in the geology, mining, and processing of platinum-nickel-copper-chrome deposits. Heinrich has permanent residency status in Brazil, is fluent in Portuguese and understands the Brazilian operating environment.
Non Executive Director
Nick has over 25 years’ experience in the mining sector across a number of geographies. He was CEO of Asia Resource Minerals plc, a FTSE listed mining company. Prior to this Nick was a senior executive with Anglo American plc and DeBeers. Nick is a director of Ortac Resources, a UK listed mining company and chairman of Fodere Group, a private company that has developed technology to extract high value minerals from ore.
Non Executive Director
Louis is a Chartered Accountant and fellow of The Institute of Chartered Accountants in England and Wales. He has over 30 years’ experience in corporate finance in the City, in particular with companies in the mining and oil and gas sectors. He has advised companies on all aspects of IPO’s, fund raisings, restructurings, M&A, contested bids and day to day corporate issues. Most recently he was CFO at AIM quoted Eland Oil & Gas and before then he was Managing Director at Northland Capital Partners.