Limpopo, South Africa

Stibium Mining Opportunity - Limpopo, South Africa (Gold & Antimony)

DOSSIER:Executive Investment Overview

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EXECUTIVE CONTENT OVERVIEW

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Executive Investment Overview

The Stibium Mining Opportunity represents a rare, brownfield producing mining complex located within the renowned Murchison Greenstone Belt in Limpopo Province, South Africa. Encompassing approximately 9,500 hectares of contiguous mining lease, the property pairs an established gold production base (50+ years operational history) with a world-scale antimony endowment comprising ~10% of total known global reserves. With antimony now classified worldwide as an urgent, strategic critical mineral (essential for defense, munitions, solar glass, and grid-scale liquid metal batteries), this asset provides immediate positive cash flow alongside extraordinary geopolitical and commercial leverage.

Project Key Metrics & JORC Resource Endowment

Metric	Details
Location	Limpopo Province, South Africa (Murchison Greenstone Belt)
Property Size	Approximately 9,500 hectares (active mining lease area)
Primary Commodities	Gold (Au) and Antimony (Sb)
Development Stage	Producing gold asset with 50+ years operational history; active underground & surface operations
Current Production Rate	TF2 tailings dump mining at 60,000 tonnes per month (60 ktpm)
JORC Compliant Resource (Gold)	~1,000,000 ounces (~1.0 Moz Au)
JORC Compliant Resource (Antimony)	~280,000 tonnes Sb (~10% of global known reserves)
Exploration Target	Expanding the antimony resource up to 1,000,000 tonnes (1.0 Mt Sb)
Resource Head Grades	Specific in-situ g/t and % head grades pending release of updated JORC technical report
Permitting & Tenure	Fully permitted and licensed for both underground operations and tailings retreatment
Current Ownership	74% Seller-Owned, 26% Broad-Based BEE Partner Trust

Stibium Mining Project — Key Metrics & Resource Specifications

Exploration & Drilling Summary

Extensive Historical Work: Deep underground infrastructure, shafts, and processing history spanning more than five decades in the mineralized Murchison Greenstone Belt.
Aggressive Active Campaign: Ongoing exploration programme comprising high-resolution ground and airborne geophysics coupled with systematic diamond core drilling.
Drill Holes & Assay Status: Active diamond drilling is focused on expanding antimony resources toward the 1.0 Mt milestone while updating gold block models. Individual drill hole intervals and assay tables are being compiled into a revised JORC-compliant resource statement currently underway.
Rehabilitation & Shaft Access: Dedicated capital is allocated to re-opening historical gold and antimony shafts, granting direct access to delineated open-pit and underground reserves.

Mining, Processing & Financial Highlights

Established Cash Flow Base: Achieved record gold production in 2024, delivering annual EBITDA in excess of US$10 million.
Critical Mineral Upside: Developing the large-scale antimony asset provides substantial strategic commodity exposure, projected to add an estimated US$70M to US$80M to annual EBITDA.
Proprietary Processing Technology: In-house tailings/slag extraction technology engineered to increase metallurgical recovery rates from the historical industry benchmark of ~35% to 55%+.
Security of Tenure: Mining rights and environmental authorizations are fully active, compliant, and in good standing with South African regulatory authorities.
Valuation & Entry Multiple: Going-concern valuation estimated at ~US$450 million based on an attractive 5x EBITDA multiple (excluding extensive in-situ mineral resource valuation).
Exit Horizon & Secondary Path: Clear pathway to a secondary liquidity exit of up to US$250 million for up to a 74% controlling equity stake.

Capital Raise Structure & Use of Proceeds

Allocation Tranche	Amount (USD)	Strategic Objective
Longwall Shaft Development	US$60,000,000	Development of open-pit and high-grade underground reserves via Longwall shaft infrastructure
Exploration & Shaft Rehabilitation	US$10,000,000	Diamond drilling to expand Sb resource to 1 Mt and re-opening historical production shafts
Proprietary Extraction Tech	US$10,000,000	Refining and patenting proprietary tailings recovery technology (55%+ recovery benchmark)
Total Capital Raise	US$80,000,000	Minority equity (~18%) or repayable debt structure with commercial offtake rights

Stibium Mining — US$80M Capital Raise Allocation

Project Imagery

IMAGE_GALLERY • 2 ITEMS

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Limpopo Province Regional Setting

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Limpopo Province Terrain and Mining Corridor

Location Context

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Quick Facts

LocationLimpopo Province, South Africa
Geological BeltMurchison Greenstone Belt
Property SizeApprox. 9,500 Hectares (Mining Lease)
CommoditiesGold (Au) & Antimony (Sb)
Development StageProducing Asset (50+ Years History)
Current Mining Rate60,000 tonnes / month (TF2 Dump)
JORC Gold Resource~1,000,000 ounces (~1.0 Moz Au)
JORC Antimony Resource~280,000 tonnes Sb (~10% global reserves)
Exploration TargetExpanding Sb to 1,000,000 tonnes (1.0 Mt)
2024 EBITDA> US$10 Million (Record gold production)
Antimony EBITDA Upside+US$70M to US$80M annual EBITDA projected
Going-Concern Valuation~US$450 Million (5x EBITDA multiple)
Capital Raise StructureSeeking US$80M (Equity ~18% or loan + offtake)
Exit HorizonSecondary exit up to US$250M (up to 74% stake)
Ownership Structure74% Seller-Owned / 26% BEE Partner Trust

Project Meta

AuthorAdamson Geomatics