|Siyanda Resources Ventures|
|Dense Media Separation|
The company has a prospecting right covering 13 000 hectares in Delmas in the Mpumalanga Province in South Africa.
The shareholders are Total Coal SA owing 51%, Canyon Springs 29% (70% owned by Siyanda Resources and 30% Warrior Coal) and BHP Billiton Energy Coal owing the remaining 20%.
The project is at BFS (Bankable Feasibility Study) stage with the CPR (Competent Persons Report) done by RSV. TWP is managing the further studies of the BFS. The environmental studies are ongoing and scheduled for completion in December 2012.
The current resource is 708 million tons, both opencast and underground as stated in the CPR. Mine design is continuing to take the resource to reserve level, which will then lead to infrastructure costing, process systems design and then risk and financial estimation.
The project schedule is such that the mining right application is set for submission in 2013 and mine establishment set for 2014.
Kangwane is an anthracite coal deposit near Komatipoort in the Mpumalanga province.
The current shareholders are ZYL Limited
(60%), Siyanda Resources (Pty) Ltd (22,5%), Double Ring Mining (Ltd) Pty (10%), Opes Capital (2,5%) and KaNgwane Community (5%).
The BFS process is currently underway and RSV has produced a CPR with the following key aspects:
The BFS is set for completion in November 2012, with the mining licences coming in 2013. The plan is to capitalise the mine in July / August 2013 with civil work starting in September 2013. Production is estimated to commence during the first quarter of 2014.
We focus on both greenfields and brownfields operations. All of our projects we acquire are on a long-term basis, with optimization of assets being the key goal.