Bauba Resources Limited (JSE:BAU)
Bauba Resources Limited (JSE:BAU) is a mining and exploration company. Bauba has a 30-year mining right for chrome ore on the farm Moeijelijk 412KS. The Moeijelijk Chrome Mine is an early, cash-positive project exploiting near-surface and underground chrome resources. It is situated on the Eastern Limb of the Bushveld Igneous Complex. Ore is exported to China.
The cash generated from this project will be used to:
- Potentially declare dividends to Bauba’s shareholders;
- Self-finance the development of our existing low-cost mines;
- Fund the pursuance of additional mining projects; and
- Progress the Bauba platinum project.
The Bauba platinum project, a high-quality platinum group elements (PGEs) prospecting project, is situated within a prime segment of the Eastern Limb of the Bushveld Igneous Complex. The project lies in the heart of the world’s best-known platinum region, where a number of neighbouring companies are successfully prospecting and mining PGEs from the Merensky and UG2 reefs. Bauba holds PGE mineral rights over eight properties within the Leolo mountain range in the Limpopo province, northeast of Johannesburg. The properties are grouped into the Northern and Southern Clusters. The Bauba platinum project has an inferred resource of 17,22 million ounces and a conceptual exploration target range of 73,5 million ounces to 109,6 million ounces.
Bauba has expanded its vision to become a diversified mining company. The company’s aggressive growth strategy will also target base and other precious metals. The company will target projects similar to its Moeijelijk operation, where it can generate cash at an early stage to self-fund further development and growth-enhancing expansion at these newly-acquired projects, thereby limiting capital funding and risk.