North River Resources Plc (LON:NRRP) Chairman Rod Beddows talks to DirectorsTalk about his reasons for joining NRRP, the Zinc market short and long term, Rod’s background in the sector and the future for NRRP.
North River Resources Plc is a mineral exploration and development company active in Namibia and Mozambique. The Company is focussed on re-opening its flagship asset, the Namib Lead Zinc Project near Swakopmund in Namibia and is targeting commencement of production in the near term.
The project has a current JORC resource of 1,250,000 tonnes, with resulting underground in-situ metal inventory of:
30,709 tonnes of lead
80,640 tonnes of zinc
1.76 million ounces of silver
A mine development plan has been completed based on a 250,000kt per annum plant, which demonstrates a payback of just 1.4 years based on a Mineral Inventory of 425kt of Indicated Resource, and 234kt of Inferred Resource.
The Company has a project equity agreement for up to $12.0 million with Greenstone Resources with which to progress the project through to production.
In addition to the Namib project, the Company has numerous other interests in both Namibia and Mozambique covering phosphate, iron ore, copper and gold. In tandem with the development of Namib into production, the Company has a wider strategy to build North River by acquisition during the sector downturn to become a high-growth enterprise.
