Key Milestones

  • 09 October 2012 – SULA lists on AIM raising £1.15 million
  • 02 November 2012 – Raises £450,000 to fast-track Sierra Leone iron ore project and initiate drilling campaign
  • 22 April 2013 – Commences 2000m scout drilling programme
  • 23 July 2013 – Positive scout drilling results confirm presence of iron mineralisation with comparable grades to African Minerals Tonkolili Project
  • 24 September 2013 – Final drilling results received demonstrate high grade iron consistency – 73.18m at 43.66% iron (`Fe’), 99.81m at 31.17% Fe and 43.73m at 33.89% Fe
  • 19 November 2013 – Initial field work to target gold mineralisation commences
  • 21 January 2014 – SRK ES declares a maximum value for SULA’s Ferensola Licence
  • 07 March 2014 – Raises £2.1 million to fund exploration programme to establish a JORC Compliant Mineral Resource Estimate (MRE) on Oxidised Mineral Resource and the magnetite contained in the banded iron formation (BIF) Unit
  • 09 April 2014 – Commences drilling to define Maiden JORC Compliant Oxidised Mineral Resource
  • 25 April 2014 – SRK Exploration Services identified additional Gold targets by Geochemical and Magnetic Surveys
  • 16 June 2014 – 1st Assay Results from Maiden JORC Compliant Oxidised Mineral Resource Drilling Programme
  • 16 December 2014 – Declared a JORC Compliant Oxidised Mineral Resource, 55.5Mt at 45.39% Fe and a total mineral resource of 514.5 Mt at 31.8% Fe.
  • 20 August 2015 – placing to raise £400,000
  • 19 October 2015 – placing to raise £550,000
  • 06 November 2015 – commencement of extended gold drill programme
  • 30 November 2015 – completion of extended gold drill programme
  • 14 December 2015 – batch one gold assey results received
  • 06 Janaury 2016 – batch two gold assay results received