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NGX Limited was previously a wholly owned subsidiary of Sovereign Metals Limited (Sovereign), an ASX and AIM listed company. NGX demerged from Sovereign, effective 24 March 2023.
NGX is an exploration company with a focus on certain graphite assets in Malawi, being the Nanzeka Project, the Duwi Project, the Malingunde Project and the Mabuwa Project.
The Nanzeka Project - Granted
The Nanzeka Project is located approximately 50km north-east of Malawi's capital Lilongwe, with initial drilling and trenching having been undertaken at the project site in 2013 and mapping and rock-chip sampling delineating two high-grade flake graphite mineralisation zones over a combined strike length of 3km, with individual zones ranging between 10m and 150m in surface width. NGX Exploration Limited (a wholly owned subsidiary of NGX) is the holder of retention licence RL 0012/21, granted on 27 July 2021, which comprises the Nanzeka Project.
The Duwi Project – Subject to transfer to NGX
The Duwi Project is located approximately 15km east of Malawi's capital Lilongwe, which has a Mineral Resource estimate of 85.9Mt at 7.1% total graphitic carbon (TGC) for contained graphite of 6.13Mt.
Sovereign Services Limited (SSL), a wholly owned subsidiary of Sovereign, is the holder of the retention licence RTL 0032/22 which was granted on 4 October 2022. On 18 October 2022, SSL applied for the transfer of the Duwi Project to NGX. The transfer is pending approval.
The transfer of the Duwi Project from the Company to NGX is subject to the satisfaction (or waiver) of various conditions precedent pursuant to the Demerger Deed, which includes Malawi ministerial approval for the transfer of the Duwi Project.
The Malingunde Project – Subject to grant of a mining licence and transfer to NGX
The Malingunde Project is located in the Central Region of the Lilongwe District of Malawi. The Malingunde Project site is located approximately 20km southwest of Malawi's capital, Lilongwe. The Malingunde Project has a Mineral Resource estimate of 65Mt at 7.2% TGC for contained graphite of 4.68Mt.
In February 2022, Sovereign applied for the grant of a mining licence at the Malingunde Project which covers 5.7km2. Conditional approval for the mining licence was provided in April 2022 with conditions to be addressed including receipt of an environmental and social impact assessment approval certificate under the Malawian environmental regulations.
The transfer of the Malingunde Project from Sovereign to NGX is subject to the satisfaction (or waiver) of various conditions precedent pursuant to the Demerger Deed.
The Mabuwa Project – Subject to grant of an exploration licence
The Mabuwa Project is located approximately 60km south of Malawi’s major commercial city of Blantyre. The Mabuwa Project covers a mafic-ultramafic intrusive body potentially favourable for nickel and platinum group element (PGE) sulphide mineralisation. No previous exploration work is known. However, historical reconnaissance drilling has been undertaken on nearby targets hosted in similar rock types with low grade nickel and PGE sulphide mineralisation having been discovered. An application for an exclusive exploration licence over 9km2 was lodged by NGX Exploration Limited in March 2022.
It is anticipated that NGX will list on the ASX during May 2023.
www.ngxlimited.com
NGX is an exploration company with a focus on certain graphite assets in Malawi, being the Nanzeka Project, the Duwi Project, the Malingunde Project and the Mabuwa Project.
The Nanzeka Project - Granted
The Nanzeka Project is located approximately 50km north-east of Malawi's capital Lilongwe, with initial drilling and trenching having been undertaken at the project site in 2013 and mapping and rock-chip sampling delineating two high-grade flake graphite mineralisation zones over a combined strike length of 3km, with individual zones ranging between 10m and 150m in surface width. NGX Exploration Limited (a wholly owned subsidiary of NGX) is the holder of retention licence RL 0012/21, granted on 27 July 2021, which comprises the Nanzeka Project.
The Duwi Project – Subject to transfer to NGX
The Duwi Project is located approximately 15km east of Malawi's capital Lilongwe, which has a Mineral Resource estimate of 85.9Mt at 7.1% total graphitic carbon (TGC) for contained graphite of 6.13Mt.
Sovereign Services Limited (SSL), a wholly owned subsidiary of Sovereign, is the holder of the retention licence RTL 0032/22 which was granted on 4 October 2022. On 18 October 2022, SSL applied for the transfer of the Duwi Project to NGX. The transfer is pending approval.
The transfer of the Duwi Project from the Company to NGX is subject to the satisfaction (or waiver) of various conditions precedent pursuant to the Demerger Deed, which includes Malawi ministerial approval for the transfer of the Duwi Project.
The Malingunde Project – Subject to grant of a mining licence and transfer to NGX
The Malingunde Project is located in the Central Region of the Lilongwe District of Malawi. The Malingunde Project site is located approximately 20km southwest of Malawi's capital, Lilongwe. The Malingunde Project has a Mineral Resource estimate of 65Mt at 7.2% TGC for contained graphite of 4.68Mt.
In February 2022, Sovereign applied for the grant of a mining licence at the Malingunde Project which covers 5.7km2. Conditional approval for the mining licence was provided in April 2022 with conditions to be addressed including receipt of an environmental and social impact assessment approval certificate under the Malawian environmental regulations.
The transfer of the Malingunde Project from Sovereign to NGX is subject to the satisfaction (or waiver) of various conditions precedent pursuant to the Demerger Deed.
The Mabuwa Project – Subject to grant of an exploration licence
The Mabuwa Project is located approximately 60km south of Malawi’s major commercial city of Blantyre. The Mabuwa Project covers a mafic-ultramafic intrusive body potentially favourable for nickel and platinum group element (PGE) sulphide mineralisation. No previous exploration work is known. However, historical reconnaissance drilling has been undertaken on nearby targets hosted in similar rock types with low grade nickel and PGE sulphide mineralisation having been discovered. An application for an exclusive exploration licence over 9km2 was lodged by NGX Exploration Limited in March 2022.
It is anticipated that NGX will list on the ASX during May 2023.
NGX Limited
Here at NGX Limited, we're developing the world's most sustainable anode graphite. If you're interested to find out more, please contact us directly.
www.ngxlimited.com
