Limpopo (Messina)
Asset Summary
| Asset | Limpopo (Messina) |
|---|---|
| Interest | 0.704% Gross Receipts Royalty |
| Commodity | Platinum Group Metals, Gold, Copper, Nickel |
| Location | South Africa |
| Stage | Development-stage |
| Counterparty | Sibanye Stillwater Ltd. |
Asset Highlights
- Provides exposure to a substantial 18 million ounce 4E (platinum, palladium, rhodium, gold) Measured, Indicated and Inferred PGM resource over past-producing Baobab mine on the prolific Bushveld Igneous Complex (“BIC”);
- Full surface and underground infrastructure in place at the Baobab Operation, including a vertical shaft to 450m depth and a 90,000tpm concentrator which is currently on short-term lease to Anglo American Platinum;
- Detailed feasibility study completed by Sibanye in 2017 and in 2020 the feasibility study was reviewed and a conceptual level re-opening study for the Baobab Operation was completed, which demonstrated the financial viability of the project;
- High-quality operating partner in Sibanye (current market capitalization US$10 billion), who currently manages 5 PGM and 5 gold operations in Sub-Saharan Africa as well as 2 PGM operations in Montana;
- Significantly increases Vox’s exposure to ‘battery metals’ such as rhodium, copper and nickel contained within the resource – in 2007, Lonmin plc produced 73,600 ounces of PGMs, along with 752MT of nickel and 513MT of copper, at the Limpopo Project; and
- Near-term development potential with existing infrastructure in place and categorised in Sibanye’s South Africa 2 – 5 year project development pipeline.
Further information can be found at this website: https://www.sibanyestillwater.com/business/southern-africa/pgm-operations/projects/
