| Fri 11 Nov 2011, 9:00 | | FCR - Ferrum Crescent - Ferrum Crescent lists on JSE |
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FCR
FCR - Ferrum Crescent - Ferrum Crescent lists on JSE
Ferrum Crescent Limited
(Previously Washington Resources Limited)
(Incorporated and registered in Australia and registered as an external company
in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR ISIN: AU000000FCR2
("Ferrum Crescent" or "the Company")
FERRUM CRESCENT LISTS ON JSE
Ferrum Crescent, an iron ore project developer with South African assets, is
pleased to announce the Company`s entry onto the JSE Limited ("JSE") with effect
from 11 November 2011. The JSE listing will be in addition to the Company`s ASX
and AIM listings.
The JSE inward listing will facilitate the Company`s Black Economic Empowerment
("BEE") share exchange and investment at a listed company level, complying with
the objectives of the South African Government`s Mineral and Petroleum Resources
Development Act ("MPRDA") and the revised Mining Charter. Ferrum Crescent`s BEE
partner, Mkhombi Investments (Pty) Limited ("Mkhombi"), owns a 26% stake in the
Company`s South African operating subsidiary, Turquoise Moon Trading 157 (Pty)
Limited ("TMT"). Mkhombi is a partner with significant industry experience, and
also includes two women`s organisations and a community trust representing local
Limpopo communities affected by the Company`s Moonlight Iron Ore Project. Mr
Kofi Morna, who is a director of Mkhombi, is also a director of Ferrum Crescent.
Ferrum Crescent executive chairman, Ed Nealon, commented, "Our JSE listing is a
natural progression for the Company. We have identified South Africa as having
enormous potential in the iron ore market and our Moonlight Iron Ore Project is
an exciting prospect amid positive global demand for iron ore resources. South
Africa has a mature resources investor base and, as a South African operator, we
look forward to raising our profile within this knowledgeable mining centre."
The JSE has granted the company a secondary listing of 298,691,705 shares,
representing the entire issued ordinary share capital of Ferrum Crescent, in the
"Basic Materials - Basic Metals - Industrial Metals & Iron - Iron & Steel"
sector under the abbreviated name "Ferrum" and share code "FCR". No funds will
be raised through the JSE listing process. The Preliminary Listing Statement is
available on the Company`s website.
For more information, please visit www.ferrumcrescent.com or contact:
Australia and Company enquiries:
Ferrum Crescent Limited
Ed Nealon T: +61 8 9380 9653
Executive Chairman
Robert Hair -T: + 61 414 926 302
Managing Director
UK enquiries:
Ambrian Partners Limited (Nominated Adviser)
Richard Morrison T: +44 (0) 20 7634 4700
Jen Boorer T: +44 (0) 20 7634 4859
Ocean Equities Limited (Broker)
Guy Wilkes T: +44 (0)20 7786 4370
Threadneedle Communications Limited
Laurence Read/Beth Harris T: +44(0)20 7653 9855
South Africa enquiries:
Sasfin Capital
Sarah Williams/Leonard Eiser T+27 11 809 750
About the company
Ferrum Crescent Limited is an Australian company, listed on the Australian
Securities Exchange (ASX), the London Stock Exchange`s Alternative Investment
Market (AIM) and the JSE Limited (JSE). The Company seeks to capitalise on the
future global demand for iron and steel by producing iron products in the
Republic of South Africa, for both the domestic and export markets.
To that end, the Company has acquired a controlling interest in a South African
company that holds the rights to significant iron ore mineralisation in South
Africa. The Moonlight Iron Ore Project is the Company`s flagship project, based
around the high quality iron ore (magnetite) deposit known as Moonlight, which
is situated in Limpopo Province in South Africa.
The Moonlight Deposit consists of coarse-grained magnetite-quartz rocks that
display the following features which set it apart from comparable magnetite
deposits:
- the ability to produce very high quality concentrates at a coarse grind size;
- exceptionally low level of detrimental elements in the concentrates;
- near-surface mineralisation; and
- low stripping ratios.
The mineralisation is close to surface and consequently represents a low
stripping ratio target with consequential mining cost benefits. The contained
iron within the Indicated Resource is sufficient to exceed 20 years` production.
The Company also holds an interest in the De Loskop prospect, which is located
approximately 150km east of Moonlight and only 50km north of Polokwane, the
regional service centre.
The Company`s board and management team have, in aggregate, more than 280 years
of mining and/or iron-making experience, having managed and operated development
stage and production stage mining and processing operations, with in-depth
knowledge of South Africa and the iron ore market.
Canada
11 November 2011
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 11/11/2011 09:00:01 Produced by the JSE SENS Department.
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