Windhoek, Namibia, 5 June 2024 – Trustco Group Holdings Restricted (TTO.SJ) has introduced that Meya Mining, through which Trustco’s mining portfolio holds a 19.5% curiosity, and is positioned throughout the jap province of Sierra Leone, has launched promising findings from a diamond useful resource estimate for the Meya River Kimberlite Dyke.
The report confirms the entire kimberlite ore all the way down to a depth of 800m under floor is 6.05 million tonnes. The assessed in-situ grade is 33 carats per hundred tonnes, translating to a complete of 1.99 million carats contained inside Meya River and an estimated worth of USD 763 million (of which USD 104 million is within the indicated class and USD 659 million inferred), primarily based on a median worth of USD 382 per carat.
Quinton Z van Rooyen, Trustco’s Deputy CEO
Quinton Z van Rooyen, Trustco’s Deputy CEO, said, “The findings from the Meya River Kimberlite Dyke are encouraging and validate our investment in Meya Mining. This resource estimate underscores the potential of the mine, and we are excited about the next steps in advancing this diamond resource.”
This evaluation covers a 2.8 km strike size of the Meya River Dyke, which represents lower than 5% of the entire mixed strike lengths of the kimberlite domains inside Meya Mining’s licensed space. 5 of the most important diamonds found globally have come from this space. Notably, in November 2017, the Meya Prosperity Diamond, the twenty ninth largest diamond on the time, was unearthed at this website and subsequently bought for USD 16.5 million. Updates on ongoing drilling and exploration throughout the license space will probably be offered as further assets are confirmed. The mine is anticipated to scale up industrial manufacturing throughout the present monetary yr.
The useful resource analysis findings will type a pivotal a part of an upcoming Preliminary Financial Evaluation (PEA) report, offering a complete financial evaluation of the Meya River Dyke’s growth potential. As of August 31, 2023, Trustco’s complete funding in Meya Mining amounted to USD 116 million, representing 34.1% of Trustco’s complete funding portfolio at the moment.
The great report, carried out by Z Star Mineral Useful resource Consultants, and ready by Principal Mineral Useful resource Analyst Sean Duggan, is accessible on the Trustco’s web site at https://tinyurl.com/2twpv78v. Additional updates will comply with because the PEA report is finalized and extra data turns into accessible.
About Trustco:
Trustco Group Holdings Ltd is an funding entity headquartered in Windhoek, Namibia, which manages a various portfolio of investments spanning the insurance coverage, actual property, industrial banking, micro-finance, schooling and mining sectors. Selections are biased in the direction of long-term funding efficiency and short-term hurdles are considered as catalysts for future development.
Traditionally, Trustco’s funding portfolio has delivered distinctive returns with a CAGR of 68.97% since 1992, with a well-balanced asset combine, with a present common weighting of 34% in US Greenback primarily based belongings, whereas the remaining 66% is invested in Namibia Greenback (1 NAD = 1 ZAR) primarily based belongings. Trustco enjoys the backing of a variety of coinvestors, together with 3 610 from Namibia, 1 443 from overseas, and 94 from institutional entities.
Media Contact
Group: Trustco Group Holdings
Contact Individual: Neville Basson
Web site: https://www.tgh.na
E mail: NevilleB@tgh.na
Contact Quantity: +264612754501
Tackle: 2 Keller Road, Trustco Home
Tackle 2: Windhoek
Metropolis: Windhoek
State: Khomas
Nation: Namibia
Launch Id: 05062412879
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