Name and Location
Moonlight Crescent iron-ore project, Limpopo, South Africa.

Client
Ferrum Crescent.

Project Description
The Moonlight Crescent iron-ore project, located on the Moonlight, Julietta and Gouda Fontein farms, in Limpopo, has been configured as a 4.5-million-tonne-a-year pelletised iron-ore concentrate operation. The project is expected to produce iron concentrate of about 69%.

In April this year, Ferrum updated the Joint Ore Reserves Committee- (Jorc-) compliant mineral resource to an estimated 307-million tonnes at 26.9% iron. This includes 172.1-million tonnes at 25.3% iron in the inferred category, 83-million tonnes at 27.4% in the indicated category and 52.6-million tonnes at 31.3% iron in the measured category.

The updated Jorc resource forms an important part of Ferrum’s plans to progress the project’s bankable feasibility study (BFS) in 2014. Ferrum says the mineral resource is suitable to inform the more detailed feasibility study work to be done and the up-to-date assessment of “reasonable prospects for eventual economic extraction” also adds confidence to the project’s potential.

Value
The total value of the project has not been disclosed.

Duration
Construction at Moonlight is expected to start by 2015 and will be completed by 2018.

Latest Developments
A new drilling programme at the Moonlight iron-ore project has started after triple-listed Ferrum Crescent appointed Ed Aylmer as BFS manager.

The appointment of a BFS manager marks the next stage of the study of the project, which has been advanced towards a Jorc-compliant resource of 307.7-million tonnes of metallurgical iron-ore and obtained a 30-year mining right and an environmental licence for the mining area.

The drilling programme will result in the upgrade of the resource in the key areas that are deemed ready to start an advanced metallurgical programme to determine costs for construction of a beneficiation plant and manufacturing facility for processing high-grade pellets.

The iron-ore developer says Aylmer will also work with Ferrum’s board of directors on current discussions with several groups to secure a financing partnership that will enable the company to complete the BFS.

Key Contracts and Suppliers
ProMet Engineers (detailed scoping study) and Mineral Corporation Consultancy (updated resource estimate).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ferrum Crescent, tel +27 11 510 0159, fax +27 86 219 5701 or email info@ferrumcrescent.com.
ProMet Engineers, tel +27 21 556 9759, fax +27 21 556 9758 or email info@promet.co.za.