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Introduction
Signet Mining Services is a European-based mining company that has been active in Africa since 2005. Although uranium and coal are currently the company’s primary focus, it is also pursuing opportunities in gold, platinum, copper and diamonds.
Signet has focused on exploring uranium in sub-saharan Africa in areas where historical work has identified economic grades of uranium, principally Chad and Niger
- Signet currently owns 100% of Chad Mining Services (“CMS”), the ownership will reduce to 90% upon production with 10% free carry for Chad government
- Signet owns 67.5% of Niger Mining Services (“NMS”). 32.5% held by minority shareholder which is not funding and will thus be diluted
Vision
Our vision is to be a world-class mid-tier exploration and mining company on the African Continent with a strategic focus on energy (uranium & coal). We will also remain open to opportunities in precious and base metals that have potential to add value for our shareholders.
Mission
Our mission is to identify world-class exploration and mining projects. We believe in utilizing best industry practice to develop projects to their full potential. Furthermore, we strive to be good corporate citizens and understand that as a company we have social responsibilities. We believe in training our employees in the latest technologies and best practice.
Investment Highlights
Strategic location
- Located in provinces with proven reserves and resources as well as established mines;
- Niger concessions on or near the Arlit fault which is associated with uranium occurences and deposits;
- Established extraction industry in both Niger and Chad;
- Good physical infrastructure in both countries.
Good project pipeline
- Numerous concessions at different stages of exploration from grassroots to resource delineation;
- Historic uranium occurrences, including drill intersects, on several concessions
- 418,000 hectares of promising exploration land;
- SAMREC classified resources to at least indicated category status anticipated by mid 2010.
Local knowledge
- Operating in Chad for past 3 years and Niger past 2 years;
- Experienced in operating in Africa and have established networks in numerous counties;
- Good relationships with African governments, in particular several mining ministries;
- Support from key stakeholders including Mvelaphanda and Palladino.
Strong management team
- Technically competent team with more than 200 years of collective experience in African exploration and development;
- Good understanding of best practices and methodologies;
- Strong political alliances in Africa through Mvelaphanda.
Attractive macro environment
- Strong demand, especially from China and India, forecast to result in significant shortage in supply — requires new projects to come on line;
- Signet well placed to take advantage of the expected increase in demand for uranium.
Results driven
- Over 7 million pounds* of contained U3O8 already established at Lere in Chad with ample potential to expand resource base. SAMREC code-compliant resource for Lere Project expected by early-mid 2010;
- High grade drill intercepts reported from the Lere Project, such as 8 metres at 1590 ppm U3O8;
- Ground spectrometer survey results up to 14,000 ppm equivalent U from trenches at the Terzemazour Project, Niger;
- Regional target of 80 million pounds contained U3O8 set for both Chad and Niger.
*
in-house non-compliant resource estimate based on spectrometer downhole probe data and limited to 100m depth at zero cut-off grade
