Last 8.03 GBp
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As of 11:35 AM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

sable mining africa ltd (SBLM) Snapshot

7.59 GBp
Previous Close
8.03 GBp
Day High
8.03 GBp
Day Low
7.59 GBp
52 Week High
01/22/14 - 11.50 GBp
52 Week Low
07/5/13 - 4.50 GBp
Market Cap
Average Volume 10 Days
-0.07 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for SABLE MINING AFRICA LTD (SBLM)

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sable mining africa ltd (SBLM) Details

Sable Mining Africa Limited, a resource company, is engaged in exploring and developing iron ore and coal projects in Africa. It principally holds interest in the Nimba Iron Ore Project covering approximately 123.5 square kilometers located in south-east Guinea. The company was formerly known as BioEnergy Africa Limited and changed its name to Sable Mining Africa Limited in November 2009. Sable Mining Africa Limited was incorporated in 2007 and is based in Road Town, the British Virgin Islands.

165 Employees
Last Reported Date: 09/9/13
Founded in 2007

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Executives, Board Directors

sable mining africa ltd (SBLM) Key Developments

Sable Mining Africa Limited Announces Board Changes

Sable Mining Africa Limited announced that it has appointed Mr. James Cochrane as Chairman with immediate effect. At the same time, Mr. Peet Snyders is stepping down as a director, also with immediate effect. Mr. Phil Edmonds, who has held the position of Chairman since the company was established, remains a director and will move into a non-executive role. Mr. Cochrane's appointment will provide the Board with specific industry focused strength, experience and expertise as the company progresses with the next stage of its development advancing its world-class Mount Nimba iron ore project in Guinea towards commercial production, a milestone which is targeted for 2015. Most recently, he was Executive Director and Chief Commercial Officer at ENRC where he was responsible for the group's marketing and logistics businesses. Prior to his time at ENRC, Mr. Cochrane spent 12 years with Billiton/Gencor in various corporate and production management roles. He has extensive experience in managing mining operations in Africa.

Sable Mining Africa Ltd Announces Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2013

Sable Mining Africa Ltd. announced unaudited consolidated earnings results for the six months ended September 30, 2013. For the period, loss attributable to owners of parent company was $16,789,000 or 1.8 cents basic and diluted loss per share against loss attributable to owners of parent company of $7,871,000 or 0.8 cents basic and diluted loss per share of prior year period. Operating loss was $24,685,000 against $9,957,000 of prior year period. Net finance income was $49,000 against $381,000 of prior year period. Loss before taxation was $24,704,000 against $9,885,000 of prior year period. Loss for the period from continuing operations was $23,956,000 against $9,885,000 of prior year period. Net cash used in operating activities was $4,214,000 against $10,211,000 of prior year period. Purchase of intangible assets was $6,193,000 against $3,808,000 of prior year period. Purchase of property, plant and equipment was $1,000 against $425,000 of prior year period.

Sable Mining Africa Limited Announces 32% Increase in its JORC Code Compliant Resource at the Nimba Iron Ore Project in South-East Guinea

Sable Mining Africa Limited announced a 32% increase in its JORC Code compliant resource at the Nimba Iron Ore Project in south-east Guinea following expansion exploration drilling. This further underpins Nimba's potential as one of the most commercially attractive iron ore development assets globally. 32% tonnage increase in JORC Code compliant Mineral Resource at Nimba to 178.4Mt, up from 135.5Mt announced in September 2013. Revised resource at an in-situ grade of 59% iron ('Fe') estimated at a Fe cut-off of 40% from two additional lines of drilling on prospects Plateau 2 and Plateau 3. Significant step towards proving up total exploration target of 200Mt. Drilling programme underway on an area previously inaccessible on Plateau 3 due to rainy season. Pre-Feasibility Study close to completion. The £17 million fundraising provides sufficient funds to complete Bankable Feasibility Study in 2014. 160 hole infill drilling programme underway with objective of converting a portion of the Resource into the Measured category - underpinning a maiden Reserve targeting an initial production phase of 7 to 10 years. New programme of metallurgical test holes being implemented with the objective of securing enough sample to do sinter testwork and progress the marketing study.


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