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Silkroad Nickel Ltd.
Summary
| Project: | Buleleng & Torete | |
|---|---|---|
| Deposit: | Buleleng & Torete | |
| Location: | Indonesia | |
| Commodities: | Nickel-Cobalt-Iron-Silica-Magnesium | |
| Date: | 11/19/2019 | |
| Report Code: | (other Code) | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-11-2019: Silkroad Nickel Ltd. announces a Supporting Acquisition report for its Buleleng & Torete deposit at the Buleleng & Torete project. Independent valuation report on the Buleleng and Torete project. In August 2018, Derisk Geomining Consultants Pt | |
| Resources: | ||
| CP/QP: | [Overall Report]: Mark Berry (Derisk Geomining Consultants) | |
| ABSTRACT: | In August 2018, Derisk Geomining Consultants Pty Ltd (Derisk) was engaged by Far East Mining Pte Ltd (FEM or the Company) to prepare an independent valuation report (IVR2 or the Report) as part of a commitment made by FEM in May 2018 to prepare an independent qualified persons report (IQPR2) and IVR2 for a portion of the tenements held by PT Teknik Alum Services (PT TAS), defined as Concession Block 2 or the Earnout Area (as defined in the China Bearing (Singapore) Ltd Circular to Shareholders dated 31 May 2018). Concession Block 2 comprises an area of 807 ha within the overall tenement area of 1,301 ha. PT Geo Artha Selaras (PT GAS) was engaged by FEM to prepare the report titled “Independent Qualified Persons Report Buleleng & Torete Nickel Project, Central Sulawesi Province, Indonesia” (the IQPR2) for the assets that are the subject of this IVR2. This IVR2 will be used to support the Company’s agreement with respect to the Earnout Area. This Report, prepared as a public report, provides a technical assessment and valuation of the nickel assets included in the Earnout Area. SGX Catalist rules for major transactions require that valuations must be prepared in accordance with the VALMIN Code4 and that exploration and mining information be reported in accordance with one of three allowable international public reporting standards. For this report, Derisk has adopted the VALMIN Code as required for the valuation, and the JORC Code5 as the public reporting standard. The effective date of the valuation presented in this IVR2 is 27 May 2019. | |
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