Ann: Symbol Mining First Shipment Underway, page-6

Symbol Mining First Shipment Underway
• First DSO zinc concentrate shipment loaded for transport to Lagos Port for export to China
• Maiden shipment milestone achieved 5 months after commencement of mining
• Shipment demonstrates operational capability of the Macy Project.
• Processing Plant commissioning completed, achieving expected throughput capacity of
10,000 tonnes per month.
Symbol Mining Limited (ASX:SL1), (“Symbol” or “the Company” is pleased to announce its maiden
shipment of 250 tonnes Direct Shipping Ore (DSO) from the Macy Mine in Nigeria has been loaded for
transport. The 250-tonne shipment consists of 10 containers that will be transported by truck to Lagos
Port for export clearance and is expected to depart early December 2018.
The first shipment represents a great achievement by the Symbol and Imperial Joint Venture team, who
have now proven the capability to deliver the Macy Mine project in a short start-up period.
Symbol Mining CEO, Tim Wither commented “Although a modest maiden shipment, ramp up to a steady
state should come with relative ease as the mine deepens into more consistent high-grade material and
the processing and logistic channels stabilise. The team should be very proud of the effort to date and
demonstrates our capability to build a successful, viable mining operation in emerging Nigeria. We now
look forward to restarting our exploration program” said Mr Wither.
Image 1: loading of first shipment
The first shipment is underway, one month after the commissioning of processing plant and within
expected commissioning grades. Mining is progressing above expectations and there has been very
positive signs with processing head grade achieving Macy’s resource grade expectations, as the mine
develops deeper towards higher grade resource mineralisation.
Over the coming months, the Macy operations will continue to ramp up processing operations to the
expected monthly production of 4,500 tonnes of high-grade DSO zinc and separate lead saleable
products.
The Company is currently finalising with its off-take partner Noble Resources International Pte a Free on
Board (FOB) sales contract with an 85% prepayment to occur within five days of loading onto the vessel,
with the Company receiving first revenue in December 2018. Final payment will be determined during a
three-month quotational period and independent analysis.