| 赞比亚Alumbwe Emerald Mines Limited公司寻求合作投资伙伴 |
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| 2005-07-29 21:00 zm |
赞比亚Alumbwe Emerald Mines Limited公司寻求合作投资伙伴，投资宝石开采。该公司提交的简介和公司资料如下，供参考：
1. Executive Summary
Alumbwe Emerald Mines Ltd, holds mineral rights over plots 14D and 5K in the Ndola Rural Emerald area. Gemstone Licenses (GL. 162) to prospect and mine for emeralds were granted on 17th October, 1997 for ten years and is due for renewal in 2007.
Zambia produces about 20% of the world’s emeralds. This makes Zambia the worlds third most important source of emeralds by value after Columbia and Brazil. Zambia’s emeralds have a deep green color that gives them high demand. The gemstones are recovered exclusively from the Kafubu Emerald area of the Copperbelt province where they are hosted by Muga-age schists intruded by tourmaline-and phlogopite bodies. It is important to note from the out set that emerald official production figures as given by the Export Board of Zambia are well below 'actual' production for a number of reasons. It is believed that Zambia produces well in excess of US$200 million worth of Emeralds per annum, the bulk of which is not captured by the official data collection apparatus.
Production at Zambia's emerald mines is wholly made up of rough uncut emeralds which are polished outside the country. This has considerably reduced prices obtainable for the stones. Alumbwe' s long term plans include purchasing equipment and expertise to polish the emeralds in house as a way of adding value to the stones.
Alumbwe Mines is located in the vicinity of the Kamakanga/Pirala region; the 'centre' of the Ndola Rural emerald area in as far as the production of gem quality stones is concerned. Quality and size are hallmarks of a good gem that will command excellent prices on the international market. Neighboring companies such as Kamakanga and Grizzly produce gem quality stones, exceeding 20kg every other quarter. This region has a sequence of analogous rock formation which generally buries emeralds from approximately 17m to 35 meters under the surface. At an excavated pit depth of around 12 meters Alumbwe has less than 8 meters of mining work to strike the gemstone producing schists.
Initial mineral Appraisal/Evaluation and Magnetic Survey Processing and Interpretation reports and subsequent studies done by, among others, foreign consultants (Czechs) have been the basis of the development work carried out to date. The above feasibility reports and others attached, identified the existing potential for emerald mineralization. Alumbwe shareholders have spent approximately US$ 250,000 to date on prospecting, exploration, appraisal/evaluation and development. This has mainly been expensed on consultancy fees, equipment hire, wages, fuel and lubricants, staff welfare and spares for machinery and equipment. Development, however, is at stand still now due to working capital constraints.
Alumbwe mine has prospects of guaranteeing a constant output and supply of rough emeralds from three (3) months of the recommencement of mechanized mining operations. Projected production is between 2kg to 3.5kg of emeralds per month with net sales of US$250,000 to US$350,000. Profitability in emerald mining is guaranteed with only 20% percent of the produced stones being of gem quality.
Gemstone Potential
Preliminary pit stratigraph for plot 5k (see figure 4.01) shows the emerald hosting quartz-muscovite schists, biotite-phlogopite schists, down to the talc-chlorite-magnetite schists. This indicates high potential for emerald mineralization. These reserves can be termed to be probable.
Emerald mineralization is indeed erratic by nature; production figures, for the purposes of this proposal, have been based on the:
· current production figures from producing neighboring mines whose geology is similar to Alumbwe;
· magnetic surveys done;
· geology of the pits and trenches dug; and
· Geology Survey of Zambia data.
The Existing Bottleneck
Zambia's probable emerald reserves are the second largest in the world. Most mines here are owned by small scale miners who generally lack capital to commercially exploit these reserves through the use of mechanized mining equipment and machinery such as excavators, dump trucks, loaders etc. Acquisition of this specialized equipment will guarantee commercial success on account of the huge profitability that gemstone mining guarantees.
Alumbwe, like most mines in the area, is currently dormant except for security personnel guarding the mine. The mining operations ground to a halt as a result of working capital constraints. To reach the current excavation levels, Alumbwe has relied on hired equipment, which proved to be costly. The main pit with the current structure dimensions of 39 meters by 37 meters by 12.6 meters is currently covered with water.
The Solution
The mine requires a term loan and equity injection to purchase heavy mining equipment and working capital to re-start mining operations to achieve the following:
· drain the water logged pits to re-commence development as soon as possible;
· extend the pits dimensions to 80 meters by 80 meters by 25 meters in the short term and 200 meters by 200 meters by 35 meters in the medium term; and
· strike emerald hosting rock within three months from re-comencement date
The Market
· Rough emeralds produced in Zambia are sold mainly to the United States, India and Israel for the international market.
· Prices of emeralds vary from $20 to $80 per carat depending on quality and size.
Investment Required and Use of Funds
· US$ 790,000 investment as a term loan to purchase fixed assets such as mining equipment and machinery; and
· US$ 790,000 investments for 20% ownership. This portion will be used to meet additional fixed assets acquisition needs and the balance will constitute working capital.
First year’s production is estimated at 26kgs, with a net profit of over $350,000.
Investor Discussion
· Projections reflect the return of the original investments in less than two years.
· Approximately 5 times valuation, based on discounting of 5 years of net earnings to present value.
· Present value of five years of projected net earnings at a 30% discount (incl. risk factor) is $5.2 million.
· Profitability will be achieved with only 20% of production being gem quality
· Projected net revenue of approximately $3.1 million in the first year.
· Projected net profit (before taxes) of approximately $600,000.
· Strong and professional management team backed up by highly specialized consultants.
· Exit strategy alternatives: (a) IPO after two years; (b) Acquisition; (c) private ownership with a long horizon of profits.
Highlights
1.1. Objectives
1. To recommence mechanical operations in the pits already dug on the two plots in the short term and attain pit structure dimensions of 200 meters by 200 meters by 35 meters within two (2) years.
2. To strike and expand production of emeralds from a monthly average projection of 2kg to 3.5kg with projected net income (before taxes) in excess of US$600,000.
2. Company Description
Alumbwe Emerald Mines (Alumbwe) is a limited company. It was incorporated in the Republic of Zambia in 1997, as an emerald mining company managed by the promoters and assisted by a complement of qualified managers and consultants. The company will be organized as a closely-held corporation with a majority of the shares held by the promoters.
The company seeks to raise approximately $791,000 million in loans and another $791,000 from private investors for purposes of re- starting mining operations. The company has a gemstone mining license to mine emeralds on the Copperbelt province of Zambia.
Alumbwe is located in the Kafubu Emerald region. Alumbwe has mineral rights over two adjacent plots namely 14D and 5K. The company has been engaged in mining for emeralds since 2000, prior to which feasibility studies were commissioned.
The company has to date invested approximately US$ 250,000 in the mine on prospecting and development. Through this investment pits have been dug, one of which has been dug to dimensions of 39 meters by 37 meters by 12.6 meters on plot 5k. This has been the most promising pit to date. The work has combined labor intensive digging as well as mechanized mining with rented equipment.
2.1. Company Promoters
The company is a closely-held corporation with three principle shareholders who form the Board of Directors. It is anticipated that an additional shareholder, as an equity partner, will be incorporated upon successful floatation of the 20% equity through a private placement offer.
2.2. Resumption Costs Summary
The following summary table shows the projected costs for the three months needed for the company to reach the desired depth. It includes the supply and commissioning of specific machinery and equipment needed for full mechanized mining. The re-commencement costs are to be financed by funds raised through this private Placement offer and term loan application.
The funds sought for the resumption of operations is US$1.53 million with projected net profits, in the first year of over $0.6 million.
Management expects to strike emerald bearing rock within 90 days of commissioning of the machinery as detailed in the table below.
Long Term Assets
Equipment and Machinery
Diesel Generator 19,988.00
Bull Dozer 423,920.00
Hydraulic Tractor 333,318.00
Dump Truck 348,633.00
Vehicle 45,000.00
Escalation/Contingency 117,086.00
Total 1,287,945.00
Working Capital Requirements
Salaries/Wages 63,825.00
Fuel/Lubricants 58,125.00
Consumables 12,000.00
Spares 35,000.00
Staff Welfare 3,600.00
Consultancy Fees 100,000.00
Insurance 3,000.00
Other 20,000.00
Total 295,550.00
Funding
Requirements
Working Capital
Fuel/Lubricants $58,125
Consumables $12,000
Spares $35,000
Staff Welfare $3,600
Consultancy Fess $100,000
Salaries/Wages $63,825
Insurance $3,000
Other $20,000
Total $295,550
Machinery and other Assets
Cash Required $0
Other Current Assets $0
Long-term Assets $1,287,945
Total Assets $1,287,945
Total Requirements $1,583,495
Funding
2.3. Company Locations and Facilities
Plots 14D and 5K are within Chief Lumpuma's domain, southwest of the Copperbelt town of Kitwe in an area designated as the Kafubu Emerald Area.
Access to the two plots from Kitwe is through Chibuluma and Chief Nkana's area, through the check points at Chantete stream, Kafubu river and Pirala stream.
There is currently no permanent physical structure at Alumbwe. Movable assets at the mine include Hand pumps, metal drums, motor vehicle, water pump and accessories, water wells, and tent shelters.
Figure 2.31
3. Market Analysis Summary
The world emerald market is estimated at over US$ 2.0 billion annually. Zambia’s official outlets for the sale of emeralds are the US, India and Israel. Additionally, the following countries are also established emeralds markets: Hong Kong, South Africa, Switzerland, Great Britain, Belgium, Thailand, United Arab Emirates, Italy, and other small markets scattered around the world.
Zambia is reputed to produce 20% of the world's emeralds and this principally comes from the Kamakanga/Kagem area in the vicinity of Alumbwe. This places Zambia at third position after Columbia and Brazil in emerald production by value. Actual production figures, however, remain shrouded in secrecy, as they are much higher than officially reported. Zambia's emeralds are famed for their perculiar deep green color.
Government is expected to announce measures aimed at reducing tax leakages in this sector as well as to encourage commercial exploitation. The measures anticipated will include a centralized marketing regime, and access to finance, which can only work to the benefit of the small scale miners themselves and the country as a whole.
The growth projection for the next five years aims at reaching production in excess of 30Kgs by the fifth year, with net sales projected at US$4.0 million and profits before taxes of over $900,000.
3.1. Market Segmentation
The value of gemstones, such as emeralds, on the world market is derived from the scarcity of their occurrence and the sheer beauty of the stones. This means that once the mineralization is realized, the main growth problem is that of the limited abilities to supply demand with good quality stones. Zambia's emerald region is famed for good quality stones and the vicinity of Alumbwe mines has seen good production, in terms of quality, quantity and the size of individual stones.
The market for emeralds has always existed and will continue to do so in the foreseeable future.
4. Technical Aspects
Emerald is the green variety of a group of minerals collectively known as beryl. In Zambia, beryl was first reported from Miku in the Kafubu emerald area.
4.1 Topography and Drainage
The terrain in the Kafubu emerald area is generally flat, characteristic of the mature plateau areas of Central Africa. Stronger relief is provided by quartzite and metasandstone ridges and hills.
The Kamakanga hills in the central parts of the Kafubu area rises to more than 1264m and appears to control the drainage system of the Lumpefu, Kalangati, Pirala and Mitondo streams. The other hills of notable relief are the Luela (1262m) and Lubanje (1298m) to the south east of the area.
Many of the steams empty their waters into the Kafue River which is incised into its flood plain and occupies a spectacular gorge where it cuts through the Mpatamatu hills to the south east of the area.
The water table in the Kafubu block is fairly high and this leads to serious operational problems during the rainy reason between October and April due to pit flooding.
Regional Geology
The geology of the Kafubu Emerald area consists of three major lithostratigraphic units, namely the Basement Complex, the Muva Supergroup, and the Katanga Supergroup.
I. Basement Complex
The Basement Complex rocks constitute the oldest rocks in the Kafubu area. The rocks of the Basement Complex are essentially gneisses, and granites with remnant schists, amphibolites and resistor kyanite bearing quartzites.
II. Muva Supergroup
The Muva Supergroup is a pile of low to medium grade metamorphic rocks occupying two major geosynclines to the south of the Basement Complex.
In the Kafubu area this section starts in a medium grained friable meta-quartzite known as the Muva Quartzite. The quartzite is overlain by various schists and amphibolites.
Several variations of the amphibolite are exhibited in the Kafubu emerald area. In places where the rock has a high magnetite mineral content and demonstrates high magnetic anormally, the amphibolite is known as atalc magnetite schist (T.M.S). at sheer contacts, the amphibolite is highly deformed and acquires a coarser grained texture in biotite and phlogopite (biotie-phlogopite schist). In the vicinity of pegmatites and pegmatitic quartz the amphibolite is down graded to a talc chlorite amphibolite schist.
The amphibolites are the host rocks to emeralds.
III. Katanga Supergroup
The Katanga Supergroup rocks cap the solid geology in the Kafubu Emerald area. They were deposited during a transgression period about 10.5 Ma. A two fold subdivision into the lower Mine Series and an upper Kundelungu Formation has been effected (Mendelson, 1959).
The Mine Series show a transgression from coarser clastics at the bottom through shales and carbonates at the top.
The Kundelungu is a succession form of tillites at the bottom through limestones and shales at the top.
In the Kafubu area, the lower most part of the Katanga Supergroup consists of carbonate rocks and on the ore shale-footwall quartzite faces, typical of the Zambian Copperbelt mines.
There is a structural break between the Muva and Katanga, which has been exploited by metabasic intrusions.
Mineralization
There is great similarity in the geology and mineralization of the Kafubu emerald area of Zambia and what has become to be known as the classical type emerald deposit of the Nova Era Mining district of Minas Gerais, in Brazil, where the granite and gneissic Basement is drapped by polyphase metamorphic quartzites and schists are intercalated with metamorphosed basic and ultrabasic rocks (amphibolites) and their down graded derivatives.
Partial thrusting at the contacts with the basement rocks, faulting and fracturing has created channel ways along which pegmatities and quartz veins have preferentially intruded. The intensity of emerald mineralization is more pronounced at faulted contacts and fold hinges in the amphibolites and their down graded derivatives.
4.2 Current Status
Most of the mine is covered with thick alluvial and colluvial material. The stratigraphy in the mine has laterite at the top, being underlain by mica schist. The A horizon is up to two metres, whilst the laterite B horizon is twelve metres thick in some places. The solid geology exposed on plot 5K shows that the mine is underlain by quartz-muscovite schist, katanganite schist, overlying biotite-phlogophite schist and bands of talc chlorite-magnitite schist hosting emerald mineralization.
The sequence of bands is almost complete in Kamakanga region at thirty five meters in depth. But geophysical and magnetic survey data have delineated new bands of talc-chlorite schist buried between two meters and nineteen meters with high emerald potential. This is for exploitation in the near term.
The two plots have pits that have been dug to various dimensions as outlined below.
Plot 5K
Original pit structural dimensions dug manually measured 20m by 30m by 10m -breadth, length and Depth (BLD) respectively. Further mechanical excavations increased the structure dimensions to 39m by 37m by 12.6m. This can be collated to the cross section view of the pit stratigraph at figure 4.01.
The planned target is to reach 80m by 80m by 25m(BLD) in the short term (i.e. within one year) and 200m by 200m by 25m(BLD) in the medium to long term.
Plot 14D
The pit here was manually dug to the order of 10m by 12m by 9m(BLD). This pit was however abandoned on account of the unlikelihood of recovering emeralds in the short term. This decision reflected the need to rationalize the employment of limited working capital.
4.3 Mining Operations
The purchase of specialized mining equipment will entail the re-commencement of full mechanized mining operations.
Figure 1.12 above depicts the pit overview structure plan. The pit has circles or benches spiraling to the bottom of the pit. The bottom of the pit at depths of between 20m and 35m is found the emerald hosting rocks (see figure 4.01 and the pictures). The bottom of the pit, as mentioned, coincides with the emerald mineralization. The excavator will wind down the benches, depending on pit structure dimensions, where the hydraulic arm scoops the emerald hosting rocks onto the articulated dump truck for onward sorting and grading. The Track type tractor is responsible for removing overburden on mining sites to Dump designated sites (see plan-figure 2.31)
A water pipe reaching to the bottom of the pits will drain water to avoid water logging conditions.
Continuous mechanized mining requires fuel/lubricants to be available at all times. The mine will initially store enough supplies in drums. Fuel storage tanks will be erected in future.
该公司联系方式如下：
电话：00260-1-260157
手机：00260-97-414791
E-mail:ikayope@yahoo.co.uk |
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