Milestones

2010

EAR obtained Bauxite Exploration license «Arrete No A 2010/2424/MMG/SGG» on 30th June 2010. This license was renewed twice.




2011-2012

In 2011 local drilling company «Geoprospects Ltd» («Geoprospects») and international geological consultant «SRK Consulting Ltd» («SRK») were contracted to conduct prospect evaluation works, including:

  • Geomorphological map at a scale 1:50,000;
  • Geological map at a scale 1:50,000;
  • Geological reconnaissance traverses;
  • Drilling auger drill holes by space grid 600×600m over almost all Property, where exploration potential was revealed; and
    Trial pits at the Bowal 02.



SRK had supervised all drilling works in Guinea.

In 2011-2012 Geoprospects undertook: preliminary exploration work and then detail exploration work for the, including:

  • Drilling auger drill holes on a 300×300 m grid (preliminary exploration work) for the Bowes 01, 02, 03, 04, 15, 16, 17, 18, 19, 27, 28, 32 and 150×150 m (detailed exploration work) for Bowes 02, 04, 16, 19, 32 (see Table N1 below);
  • Drilling diamond core drill holes on a 600×600 m grid at the Bowes 02, 04, 05, 16, 17, 18, 19, 32, and several geological sections at Bowes 02 and 19;
  • Trial pits at Bowes 02, 16, 18, 19, 32;
  • Hydrological and hydrogeological measures within a full year (dry and wet seasons) at Bowes 02, 04, 17, 18, and 19;
  • Geotechnical Studies of Bauxite Ore.


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Stage Type 2011 (phase 1) 2011-2012 (phase 2) 2015
Evaluation Work (600×600m) Auger 1,200 holes for 14,035m
Diamond core
Trial pits
Preliminary Exploration (300×300m) Auger 709 holes for 9,037m 2,421 holes for 30,532m
Diamond core 3 holes for 38.7m
Trial pits 3 pits for 32m
Detail Exploration (150×150m and less) Auger 5,412 holes for 70,417m
Diamond core 380 holes for 5,118m 16 holes for 134m
Trial pits 21 pits for 205m
Hydrological measures 500 points @ 12 months

SRK had supervised all these works and developed JORC compliant Mineral Resource Estimate in September 2012.




2013-2014

During 2013-2014 Eloft was involved in developing of PFS on Alumina Plant Construction in Guinea, including:

  • Mineralogical and Metallurgical studies of Telimele bauxite ore were conducted by Australian Laboratories — Amdel and CSIRO);
  • Level of engineering for Alumina Plant (designed for 2.8mtpa alumina output and 288.5 ktpa non-metallurgical alumina output) and Infrastructure (Access Roads, Rail, Port, Power Plant, Water Supply, Waste Ponds and etc) were designed by Projects & Technologies — Management & Development LLC («P+T»);
  • Digital Terrain Model (2012) for Mine Site was created by Geoscientific Ltd;
  • Mining Study was prepared by SRK;
  • Environmental and Social Assessment was conducted by SGS Guinea.



All works were supervised by SRK. Although this Study was fully completed, EAR suspended the release of this PFS due to negative situation of alumina market.

June 2013 — Renewal the exploration License "A 2013/2380/MMG/SGG.



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2015-2016

March 2015 — Renewal the exploration License «A 2015/806/MMG/SGG

In 2015 Eloft had changed the strategy and focused on bauxite export.

After SouthAfrican construction firm and operator of several mines over Africa continent, WBHO Construction («WBHO») and its subcontractors, had performed Scoping Study on bauxite transportation from the Mine to Boffa with 10mtpa capacity.

During the Study Eloft approved the certain place for port construction near abandoned village Kokaya (across the river from Boffa) with Guinean authorities (injunction № 0105/MMG/CAB/DGPM/2014, December 2014).

Later it was approved the central corridor for bauxite ore transportation from Mine to Boffa (injuction № 0128MMG/CAB 2015, September 2015).

In the mid of 2015 Eloft commenced the Project Scoping Study, where The scope was to provide a conceptual analysis of the proposed Telimele bauxite mining operation in the Republic of Guinea.

These inputs were the base for commencement current PFS on bauxite export.

CSA Global was appointed as Primary Consultant for the Project.

During 2015 and 2016, alternate routes to transport DSO from the mine to a port were investigated. The alternate routes included:

  • Télimélé to Fria to Conakry
  • Télimélé to Sangaredi to Kamsar
  • Télimélé to Boffa


Several technical studies and a detailed risk assessment were concluded to review these options that led to confirming the Télimélé to Boffa option developed further in this PFS report.

The following table shows companies and their works in developing of PFS:


Activities Years Contractors
Scoping Study of Bauxite Export (10MTPA) 2015 WBHO, Jeffares&Green, RLH Consulting (RSA)
Project Scoping Study 2015 CSA Global
Bathymetrical Study of Rio Pongo river 2015 Underwater Surveys (RSA), RLH Consulting (RSA)
Slurry Pipeline Study 2015 Ausenco (Australia)
Ropeway Transport 2016 KUKA (RSA)
Railway Study to Boffa, Conakry 2016 Advanced Rail Technologies (UK)
Port and Transhipment Study to Boffa 2016 Port Consulting Rotterdam (NED)
Port and Transhipment Study to Conakry 2016 Inros-Lackner (GER)
Haul Road Study to Boffa 2016 Infra Tech Consulting (Australia)
Haul Road Study to Conakry 2016 WBHO, Jeffares and Green (RSA)
Digital Terrain Model over the transport corridor (2016) 2016 Geoscientific Ltd (RSA)
Geotechnical Desktop study over the transport corridor 2016 RSK Environmental (UK)
Environmental and Social Impact Assessment (ESIA) 2015-16 BEDDD (Guinea), WSP (Canada)
Geology, Mineral Resource Estimation and Metallurgy 2015-16 CSA Global
Mining 2016 CSA Global
Pre-Feasibility Study on Bauxite Export 2016 CSA Global



2017

  • Bankable Feasibility Study was commenced by Chinese engineering companies – SAMI and CCECC.
  • Large-scale Metallurgical Studies were performed by SAMI.
  • Geotechnical drilling and hydrological monitoring in drillholes and streams have been conducted for Port and Transport Corridor Areas by Geoprospects Ltd, while WSP Group (UK) provided supervising, sample preparing and assays services.
  • Resettlement Action Plan (RAP) was executed by BEEDD. WSP Group (UK) fulfilled supervising.
  • Eurasian Resources obtained Land Permit for River Port Area in Boffa Prefecture.

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