We would like to take this opportunity to introduce ourselves to your esteemed organisation and hope to build up a relationship.
Access Capital Services Share Company – has a concessionaire of 10 iron-ore sites in Northwest Ethiopia. Iron-ore sites (3 of the 10 concession sites) were evaluated and the iron-ore deposits.
Preliminary results indicates that:
· Iron reserve is around 70 million metric ton above the surface;
· Another 200mm to 300mm below the surface;
· Fichtner Mining and Environment has conducted an assessment of the potential iron-ore resources (which I will send you later).
We believe the better value-add investment is to produce sponge Iron in Ethiopia and not only sell it in this market but also for regional export market. The price of sponge iron in Ethiopia is 2x the price in international market. The payback period for this investment is less than a year. Again, we are looking for strategic partners here and operator. The investment need is $33M USD. If indeed there is an investors with 33% equity, we believe we can get rest in local debt.
Attached is preliminary information and Lab results to date. If you need anything don’t hesitate to ask.
Explanation Lab Result from Sample II
16 Fitchner samples (Sample Size II) were submitted to central Ethiopian Geological Laboratory for Geochemical XRF Analysis on December 2012. The laboratory result of Sample II indicating an average of Fe2O3 of 50%, while samples size I contains an average of 62% Fe2O3. Sample II were taken from partially weathered surface and sourced from the bottom of the hematite layer, hence this sample group shows more soil and clay due to weathering. Therefore, Sample Size I, the fresh hematite iron sample from the Shinaba area shows higher Fe2O3 content than Sample II which is acceptable result for iron content sourced from weathered surface.
If interested please mail to the below E-mail ID
Thank you for your time and consideration. We look forward to your positive response