gbe news a positive for orp malawi leases

Considering ORP have leases right next to GBE Kanyika Niobium Project one would think todays news from GBE is a major positive for ORP Malawi exploration leases, ORP management need to look into this & maybe even contact Thuthuka Group Limited to see if they are interested in a JV on ORP tenemants:


GBE ANNOUNCEMENT:

19 August 2009
ASX/Media Announcement
US$10.6 (A$12.9) million Joint Venture to fund Bankable Feasibility Study
Globe Metals & Mining Limited (ASX: GBE) is delighted to announce that Thuthuka Group Limited
(Thuthuka), a South African world class multi-disciplinary engineering company, has entered into a
formal joint venture agreement to invest US$10.6 million into the Kanyika Niobium Project to earn a
25% interest in the Project.
The US$10.6 million investment by Thuthuka will fund ~85% of the estimated cost of the bankable
feasibility study (BFS) in Globe¡¦s Kanyika Niobium Project, which commences with immediate effect.
Thuthuka¡¦s Group Managing Director, Mr. Bill Pullen, said ¡§We are very pleased to be working with
Globe on this exciting project. We believe there is an excellent synergy between the companies which
will substantially benefit this project.¡¨
Globe¡¦s Managing Director, Mr. Mark Sumich, said ¡§We are pleased to welcome Thuthuka as partner to
the Kanyika Niobium Project. Both their technical expertise and capital will make a significant
contribution to the ongoing success of the Project, and keeps Globe on track to commence production
in 2012.¡¨
¡§The participation of Thuthuka is also a wonderful endorsement of the technical and financial merits of
the Project. Thuthuka carried out a detailed due diligence program on Kanyika, and found it to be very
robust in all respects.¡¨
Globe to become the World¡¦s 4th Major Producer of Ferro-Niobium
There are currently three major producers of ferro-niobium: industry leader CBMM (Araxa deposit,
Brazil), and two ¡¥second tier¡¦ producers, Anglo America (Catalao deposit, Brazil) and IAMGOLD (St.
Honore deposit, Canada).
Globe¡¦s planned production of 3,000tpa niobium metal, to commence in 2012, will establish it as the
world¡¦s 4th major producer of ferro-niobium.
Highlights
„h Bankable Feasibility Study to commence immediately ¡V due Dec. 2010
„h Thuthuka brings technical expertise extremely relevant to the Project,
including metallurgical processing, acid handling, process and civil
engineering, and water and chemical treatment
„h US$10.6 (A$12.9) million investment to earn 25% interest in the Project
„h Globe set to become the world¡¦s 4th major supplier of ferro-niobium ¡V
production targeted to commence in 2012
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Transaction Summary
„h The US$10.6 million investment by Thuthuka is the estimated cost of those components of the
BFS to be funded by Thuthuka, and carried out either by Thuthuka or third parties. These
include:
o Metallurgy and Process Design ¡V metallurgical pilot program; production process and
refining plant design.
o Mining ¡V pit design and scheduling; waste dump, stockpile and tailings design; mine
equipment optimisation; blasting optimisation.
o Social and Environmental ¡V Environmental Impact Assessment; Social Impact Study.
o Infrastructure ¡V detailed study into all aspects of infrastructure including roads, power,
transport, sewerage, water, offices and camp.
o Procurement Management ¡V preparation of procurement packages, calls for quotation,
review of responses and preparation of preferred supplier list.
o Power Plant Study and Design
o Transport and Logistics Study
„h Globe will carry out and fund the following components of the BFS:
o Geological ¡V infill drilling; resource and reserve estimation; geotechnical study and
hydrogeology.
o Marketing ¡V price, supply, demand, product specification, shipping, storage and
distribution for all products to be produced from Kanyika; off-take contracts.
„h The costs relating to the management of the study will be shared by Globe and Thuthuka.
„h The BFS is planned for completion by December 2010. Thuthuka is required to complete its
designated components of the BFS by no later than April 2011.
„h Thuthuka will obtain an immediate 25% shareholding in Globe¡¦s 100% owned subsidiary, Globe
Metals & Mining (Africa) Limited (Globe Africa). This shareholding will revert to Globe in the
event Thuthuka fails to fulfil its obligations.
„h Globe¡¦s other assets and liabilities in Globe Africa not related to the Kanyika Niobium Project
will be transferred to a new entity to be 100% owned by Globe.
„h The Pre-Feasibility Study already underway will be continued and completed, with planned
completion by Q4 2009. This is to be fully funded and carried out by Globe.
„h The joint venture contains standard ¡¥drag along¡¦ provisions, enabling Globe to deal with 100%
of the asset (being Globe Africa), in the event it receives an offer for at least 60% of the shares
in Globe Africa.
About Globe Metals & Mining
Globe Metals & Mining is an African-focused uranium and specialty metals resource company. Its main
focus is the multi-commodity (niobium, uranium, tantalum and zircon) Kanyika Niobium Project in
central Malawi. A Bankable Feasibility Study was commissioned in August 2009 and production is
planned to commence in 2012 at a rate of 3,000tpa niobium metal, principally in the form of ferroniobium.
Mine life will be in excess of 20 years.
Globe has a number of uranium and other projects in Malawi, which it manages from its regional
exploration office in Lilongwe, the capital of Malawi. The Company has been listed on the ASX since
December 2005 (Code: GBE), and has its corporate head office in Perth, Australia.
About Thuthuka Group Limited
Thuthuka is a world class multi-disciplinary engineering company, active in the design, manufacture,
installation project management and project finance for the chemical, mining, metallurgical and
industrial markets. The scope of work includes chemical and metallurgical processes, water and
effluent treatment, hazardous waste and air pollution control and construction of the civil infrastructure
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for the above plants. Thuthuka also has experience in the design and construction of power plants in
the 5 to 100 MVA range.
Thuthuka is based in South Africa and has representation in Nigeria, Ghana, Namibia, DR Congo,
Botswana, Madagascar, Mozambique and Mauritius. Thuthuka¡¦s wealth of experience and base in
Africa enables it to provide professional services to Sub-Saharan industry, in the execution of
multidisciplinary, turnkey projects.
Thuthuka provides the most suitable and cost-effective technology available and uses in-house
technology in the following fields:
„h Water treatment and reclamation
„h Air pollution management
„h Mining and metallurgical projects
„h Process engineering
„h Solids waste treatment plants
„h Hazardous chemical treatment plants
„h Chemical plants in the nuclear industry
„h Acid handling plants
„h Organic synthesis plants
„h Pharmaceutical plants
„h Power plants
„h Project finance
Further details are available at www.thuthukagroup.com, or from Globe¡¦s website under the ¡§Featured
Items¡¨ section.
Advisers
Globe¡¦s financial advisers to the transaction were Helmsec Global Capital Limited
(www.helmsec.com.au) and legal advisers Blakiston & Crabb (www.blakcrab.com.au).
For further information please contact:
Mark Sumich, Managing Director, Globe Metals & Mining: +61 8 9486 1779
James Moses, Partner, Mandate Corporate: +61 420 991 574
Dr. Kokkie Swanepoel, Director, Thuthuka Group Engineering: +27 114685956