Mineral Deposits Limited (MDL) –Taking Two Company Making Projects into Production in 2008

• Mineral Deposits (MDL) is one of those rare companies that has two company-making projects, being its Grande Côte Zircon Project and Sabodala Gold Project both in Senegal, West Africa and both currently expected to commence production about the same time, being ~ the September / December Quarter 2008.
• The Grande Côte Zircon Project consists of processing near-shore sand dunes at a rate of ~52mtpa, from possibly late September Quarter 2008. MDL has ~60 years’ experience processing mineral sands in NSW during which it received a number of environmental awards, and recognised similarities between its past experiences and the Grande Côte Project, which could produce ~ 90,000tpa or more of Zircon.
• The Sabodala Gold Project is expected to produce an average of ~150,000ozpa (initially 200,000ozpa or higher) from its rated 2mtpa plant over at least a 6–year mine life. MDL appears to have most of the North Mara management team, besides extensive experience within its board to construct, commission and operate a gold mine in Africa.
• Both operations are being constructed by Ausenco (who have built numerous projects, most recently SGX’s Jinfeng mine), and the operations appear to have the potential to achieve higher than rated capacities. The Sabodala Gold project in particular may be able to initially achieve significantly higher than forecast grades.
• Both projects have the potential for higher resources, Grande Côte’s being north along the coast, and more than estimated; and Sabodala : regionally both inside and outside the lease, at depth, possible other joint ventures, and in comparison to nearby orebodies (such as Sadiola [14moz], Loulo [8moz], & Yatela [ >2moz]).