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Coal and Power Platform – Lemur Resources

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Imaloto Project

Following successful completion of the takeover of Lemur Resources in 2015. it is now a wholy owned subsidiary of Bushveld Minerals Lemur Resources’ main project is the lmaloto Thermal Coal project (‘lmaloto project’) in Madagascar. The Companys main objective is to develop an integrated coal mining and power generation company in Madagascar.

The Irnaloto project is based on a mining license over 81.2 Skm3 in the Salnoa Basin in Southwest of Madagascar. It has a total of 136 mt JORC compliant mineral resource (2012) of which 92mt is measured. A scoping study completed in 2014 showed a positive NPv(1096 real discount rate) or US$36 milion for an operation producing up to 1.SMtpa with a 19-year mine life and initial capex of US$12 million.

In addition Lemur Resources has two exploration permits covering a combined 87. Skm= in close proximity to the Irnaloto project. Lemur Resources‘ strategy for the development of the project involves securing an independent Power Producer (IPP) license and a Power Purchase Agreement for a thermal coal fired power station next to the coal mine thereby providing a captive marloet for the lmaloto project run-of-mine coal.

Irnaloto project is located in an area of Madagascar that is far from the countrys hydro power stations (located in the North) and is in need of power both for the inhabitants and an emerging number of mining operations. Current focus is on securing the power purchase agreement and a strategic partner for the development of the project.

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Imaloto Cole Project Sakoa Madagascar