Development about to start on highly profitable small cap iron sands project. All ducks now in a line for a smooth progression towards production.
Nature has done all the hard work in this industry.
This boutique product has massive demand exceeding supply. Incidentally as the Company has stated before, they will be able to double production at little extra cost.
A ripper !
AMEX RESOURCES LIMITED ABN 55 089 826 237
97 Outram Street, West Perth, WA 6005 Telephone (08) 9480 0455 Facsimile (08) 9321 0320 www.amex.net.au
4 July, 2014
The Manager
Company Announcements Office
Australian Securities Exchange
Exchange Centre 4th Floor, 20 Bridge Street
Sydney NSW 2000
Dear Sir/Madam,
MBA DELTA IRONSANDS PROJECT DEVELOPMENT PROGRESS
The Company is pleased to provide shareholders and investors with this update on progress of
development of its 100% owned Mba Delta Ironsands Project in Fiji, which has a projected 20
year mine life.
As previously announced to the market, Amex Resources Limited (Amex) has secured funding
for development of its Mba Delta Project. The funding is included in a lump sum US$100 million
procurement, construction and management contract awarded to MCC Overseas Ltd, an
international engineering service company wholly owned by Metallurgical Corporation of China
Ltd which is a Fortune 500 company.
This has been followed by an official ground-breaking ceremony at Amex’s port site in Lautoka,
conducted by the Prime Minister of Fiji. Preliminary site earthworks have been undertaken and
detailed design of wharf, infrastructure and administration facilities at the port have been
completed. Senior staff appointments have been made, to build the local team required to bring
the project through the development phase and into production.
MCCO as contractor has undertaken to commence construction works at the port site by 21
July, following extensive negotiations with the Company to allow the contractor to rearrange its
funding arrangements without commercial penalty to Amex. The contractor has also nominated
CCCC First Harbour Consultants as subcontractor to carry out construction of the wharf and
associated marine facilities of the project. Amex welcomes this appointment, as CCCC are
world renowned for their expertise and ability in port construction.
The revised site construction works commencement date will cause a four month delay in
project timing, but has been agreed by the Company in order to expedite construction activity on
the ground in Fiji.
