Kasbah Resources

Website: www.kasbahresources.com
Primary ticker: ASX:KAS
Stage of development: Development
Primary minerals: Tin
Project to promote: Achmmach Tin Project

Live financials

Kasbah is an ASX listed tin development company developing the Achmmach tin deposit in Morocco, the third largest undeveloped tin deposit globally. The mine will be underground with processing involving straightforward comminution and flotation to produce a high quality tin concentrate (~4,500tpa of tin). Kasbah is one of the few pure tin companies listed on the ASX.

Toyota Tsusho and Nittetsu have a 25% ownership at the project level. Strategic shareholders of Kasbah include Pala, African Lion and tin traders.
Tin prices have been steadily rising with demand forecast to continue to increase as additional new supply will not be immediately forthcoming.

Management Profile

Russell Clark – Chief Executive Officer 

Over 40 years’ experience at projects in the UK, USA, Africa, South America, PNG and Australia. Most recently MD of Wolf Minerals with responsibility for successfully financing and developing a tungsten and tin project in UK. Previously Managing Director of Grange Resources and previous senior executive experience with Newmont, Normandy and Renison Goldfields.

What is your rationale for attending 121 Mining Investment?

Following the release of a positive Feasibility study in July 2018. Funding, offtake and engineering activities are underway. The company has a new Board and Management and we want to take this opportunity to introduce Kasbah into the broader market as one of the few listed tin companies, with a project that is permitted and development ready, in a market where tin consumption is increasing and production is falling.

What recent news would you like to highlight to investors attending?

All major permits are in place.
New CEO, CFO, COO in 2017
DFS produced July 2018 – see website for details (www.kasbahresources.com)
Tin price rising, share price hasn’t – great buying opportunity
If you want exposure to tin there are very few advanced development projects to invest in

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Debt financing

6 Months:

Complete project funding, Appoint EPC and Mining contractor

12 Months:

Commenced build of the Achmmach tin project in Morocco

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Junior company looking to fund a mining project – funding is always a risk. The tin price is rising, improving project economics. The share register has supportive shareholders covering approximately half the register, providing confidence to new entrants. Morocco is in Africa, which may be seen as a risky destination – Morocco however is its own kingdom, adjacent to Spain, with stable government and process. Infrastructure is excellent and law is based on French law – as it was previously a colony of France.

In a sentence, what do you think makes your company such a compelling investment?

Whilst the tin price has languished over the past 3-4 years there has been little investment in new project development, with the result that Kasbah is one of the few companies with an advanced project that can be commenced at short notice. Kasbah’s share of project NPV is A$100m, Market capitalisation is currently A$10m