Baobab Resources

Baobab Resources plc is a Mozambique focused resources company with a robust portfolio green to brown fields projects covering a range of commodities. The Company is rapidly developing its Tete iron/vanadium/titanium asset. Work to date has culminated in the calculation of a 47.7mt maiden Inferred Mineral Resource over a 500m portion of the 8km Massamba Group trend where a 400mt to 700mt Exploration Target has been estimated. Scoping metallurgical studies and financial modelling indicates positive project economics in the production of high quality magnetite (iron and vanadium) and ilmenite (titanium) concentrate commodities. The Tete project has excellent access to critical infrastructure and complementary resources. Baobab has entered into a strategic partnership with IFC at both the corporate and project equity levels.

Baobab Resources, through its wholly owned subsidiary Capitol Resources, holds 16 Prospecting Licences in Mozambique. The portfolio comprises projects ranging from advanced resource definition drill targets to brownfield exploration, and greenfield prospects boasting an array of commodities.

Tete Project
The Tete project is located immediately north of the Provincial capital of Tete and comprises three contiguous Exploration Licences that straddle the central portion of the Tete Mafic Complex, covering an area of approximately 632km2. The Licences contain 5 known vanadiferous titano-magnetite deposits: Singore, located approximately 30km due north of Tete; and the cluster of prospects known collectively as the Massamba Group, located 55km north-northeast of Tete.

Baobab formed a strategic partnership with IFC (International Finance Corporation) in January 2009 where IFC earned a 15% direct interest in the Tete project.

Tete is fast becoming a major investment centre with mining majors Vale and Riversdale/Tata Steel in the process of opening up the Moatize and Benga coal fields. The railway connecting Tete to the port of Beira is being refurbished, as is the port. Low tariff hydro-electric power is readily available from the 2,075megawatt Cahora Bassa dam, with an additional 1,500megawatt scheme at Mphanda N'kuwa, also on the Zamebezi, in advanced planning stages. Coal fired power plants have proposed for Moatize and Benga. [Read More]

Mundonguara Mine

The Mundonguara mine has been intermittently exploited for copper, gold and silver from the turn of the 20th century until its closure in 1989 due to complications arising from a protracted civil war. In the mine’s final phase, underground development extended to depths of +200m below surface over a strike length of approximately 1km.

The mine is within 2km of the international railway and 5km of the highway, linking the project with the port of Beira. The power lines from the Cahora Bassa hydroelectric power scheme pass within 40km of the mine. [Read More]

Changara Project

The Changara Project covers an area of 525km2 and is underlain by lower Proterozic rocks of the Rushinga Group which flank the northeastern margin of the Zimbabwe Craton.

The Project is considered highly prospective for SedEx / Broken Hill Type polymetallic base and precious metal mineralisation and hosts numerous occurrences of zinc, lead, manganese, iron ore, fluorite, copper and silver.

Bandire/Sussundenga Project

The Bandire/Sussundenga Project covers an area of 900km2 and is underlain by lower Proterozic rocks flanking the eastern margin of the Zimbabwe Craton. Gold has been won from the Bandire artisanal workings (located immediately adjacent to 581L) since pre-colonial times.

Exploration by Ashanti in the 1990’s defined four discrete gold-in-soil anomalies, three of which lie within the Project area. 11 RC holes drilled by Ashanti into the Bandire workings indicated that gold mineralisation is associated with shallowly west dipping mafic schist intercalations within a highly weathered package of felsic gneiss saprolite. Intercepts included 8m@1.15g/t Au (BRC02) and 2m@3.45g/t Au (BRC07). Mineralisation remains open, with down dip and northern strike continuations persisting into Baobab’s 581L license.

Exploration is targeting low grade, shallow supergene gold mineralisation suitable for low-cost open-pit, heap-leach operation.

Mr Jeremy Dowler - Non-executive Chairman

Jeremy's career as a finance director has taken him from the City of London to South Africa and Australia in senior administrative positions in insurance, publishing and resources, including Brockbank Group plc and Thomson Books (London book publishing division of International Thomson Organisation). Jeremy has served on the boards of various resource companies and was a founding shareholder and the former Finance Director of Platmin Limited, a platinum exploration and development company with projects in South Africa. This company is listed on AIM and the Toronto Stock Exchange. He brings significant administrative and financial skills to the Company.

Mr Ben James B.Sc – Managing Director

Ben is a senior geologist with over 10 years experience in the exploration and mining industry. Graduating with a degree in geology from the University of Otago in 1994, he has since held exploration and development roles in a variety of terrains including the Archaean Greenstone belts of Western Australia, Proterozoic gold and base metal systems in Zambia, porphyry gold-copper deposits in the Romanian Carpathians and Ordovician orogenic mesothermal gold mineralisation in New Zealand's South Island. Ben has worked for various companies including Oceana Gold, RSG Global, Katanga Resources, Hill 50 Gold and Herald Resources. As Technical Director of Baobab, Ben’s role is focused on the advancement of the Company’s projects in Mozambique.

Mr Jonathan Beardsworth- Non-executive Director

Jonathan Beardsworth is CEO of Metals Exploration Plc. Previously he was head of the London office of Standard Bank Plc’s Mining and Metals team. In the last 12 years he has participated in and led a variety of M&A and strategic advisory assignments in the mining industry worldwide.

Mr Jon Crowe- Non-executive Director

Alexander Irwin (Jon) Crowe, has been the Company's Marketing Relations Manager since Baobab's admission to AIM in February 2007. Mr Crowe has been involved in the exploration industry for over twenty years, providing contract field services as the principal of Menzies Exploration Company Pty Ltd and he has extensive prospecting experience in Australia and southern Africa. He was a Director of ASX-listed Bamboo Gold Mines Limited and a founding Director of ASX-listed Zambezi Resources Limited.

Management

Mr Graham Anderson (GDA Corporate) - Joint Company Secretary & CFO Services

Graham is a Chartered Accountant with over 25 years of commercial and corporate experience. He was a Corporate Services Partner with the National Accounting firm Howarth before establishing GDA Corporate in 1999. He has held the offices of Chairman and Non Executive Director of a number of publicly listed companies as well as company secretary for over a dozen ASX listed companies over the past ten years. Graham has strong expertise in accounting standards, corporate governance, the Corporate Act and ASX Listing Rules , as well as AIM client experience.

Mr Iain Plews - Exploration Manager

Iain is a geologist with over 30 years experience in exploration and mining in Africa and has held senior positions with both major and junior mining companies including Anglo American Corporation, Ashanti Goldfields, ITM Corporation, Reunion Mining and Takoradi Gold NL. He has operated in over a dozen countries in sub-Saharan African and has wide experience in exploration and mining for a variety of commodities including Gold, PGEs, diamonds and base metals. He is presently a partner in Gondwana Limitada, a Mozambiquan consultancy firm, and joined Baobab as Exploration Manager in 2009. Iain resides in Mozambique.

Mr Martin Spence - Senior Project Geologist

Martin is a geologist with over 30 years' experience working on gold, base metal and diamond exploration and mine development, including the Olympic Dam polymetallic mine, Rocky’s Reward Nickel and the Pajingo epithermal gold mine. He has managed programmes throughout Southern Africa including Bannermans Goannakontes Uranium deposit in Namibia, Delta Gold’s diamond exploration in Zimbabwe and phosphate, gold, diamond and base metal exploration for African Consolidated Resources in Zimbabwe.  Martin is currently managing Baobab's Mundonguara nickel/copper/ gold project.

Mr Norman Gwaza - Senior Project Geologist

Norman graduated with a BSC in Geology from the University of Zimbabwe in 1999. He has been working in the mining and exploration industry for over 10 years. Norman has been working for Baobab Resources since 2007. Currently he is Senior Project Geologist based in Tete.

Share Capital Information

This information was updated on 24 August 2011

The Company’s issued share capital consists entirely of Ordinary Shares of 1p each, with one voting right per share.

The above figure of 187,637,900 shares may be used by shareholders as the denominator for calculations by which they will determine if they are required under the Disclosure and Transparency Rules to notify their interest in, or a change to their interest in, the Company.

All the Company's shares are in public hands, except for those held by the Directors and their related parties and by substantial shareholders (defined in the AIM rules as holding more than 3%), as set out below and amounting in total to 53.77% of the shares in issue.

Shareholder Profile

Source: Share Registrars Limited.
This information was updated on 24 August 2011

Directors Shareholdings

Source: Share Registrars Limited.
This information was updated on 24 August 2011

Updated from company website 07.10.11