Barbu's Innovative Agricultural Technology Foundation

16/08/2024

18/04/2024

Financial due diligence underway with anticipated completion in 2nd quarter 2024; St John River licenses previously owned by BHP and cover a combined area of almost 250 km2 adjacent to the existing Yekepa-Buchanan Rail Corridor

US Company High Power Exploration Inc (“HPX”) announced today that it has completed technical due diligence on the St John River iron ore licenses in Liberia, the subject of an acquisition agreement with Intra Ferrous Pte. Ltd signed in December 2023.

HPX’s technical team completed extensive review work and a site visit in early February to review the assets. During the site visit the HPX geological team identified significant showings of Banded Iron Formations (BIF), which supports the Company’s view of the prospectivity of the licenses. The St John River licenses are strategically located within the proposed The Liberty Corridor and previous work completed by the United States Geological Survey (“USGS”) identified a potential exploration target of 650 million tonnes of up to 58% Fe.

The St. John River iron ore licenses are highly prospective, and with the extensive exploration experience and success within the HPX group, the Company is looking forward to implementing an active exploration programme to advance the St John River projects. HPX will now move to complete the financial close of the acquisition during this quarter.

As well as completing technical due diligence on the St John River assets, HPX has also significantly advanced the Liberty Corridor Development Agreement with the Liberty Corridor Steering Committee. With the first meeting of the Steering Committee held on 28 February 2024, members of the Steering Committee have been working to finalize a Development Agreement between the parties that can be presented to the Liberian Government’s Inter-Ministerial Concessions Committee for finalization, approval by the President of Liberia and ratification by the Liberian Legislature.

Over the last six months, significant work has also been completed by the Nimba Project Technical Team that has focused on streamlining the project, reducing the proposed capital required for development of Phase 1 and increasing available resources.

These significant project advances include: Commencement of the Environmental and Social Impact Assessment for Phase 1 mine development; completion of a contract tender process for mining, processing and hauling for Phase 1; updating the 2021 feasibility study to generate a JORC compliant reserve including technical updates to geology, geotechnical and metallurgical data; identification of a super high-grade zone in Phase 1 comprising 20 million tonnes at 68% Fe – a high quality product that will attract significant pricing premium; and simplification of Phase 1 Mining Flowsheet to remove complexity and reduce capex. Anticipated capex to bring Phase 1 into full production circa US$100 million.

Other project advances include the potential to increase the project resources by 300 Mt across Phase 1 and 2 with mine plan and scheduling improvements taking the mine life past 25 years at 30Mtpa rate and the reduction of overall capex required for the Phase 2, 30Mtpa to US$1.9 billion – a reduction of US$375 million.

“HPX is pleased to have completed technical due diligence on the St John River licenses in Liberia and will now move to financial close of the proposed acquisition,” President and CEO of HPX Bronwyn Barnes commented. “As we continue to grow the Company’s asset base in West Africa, we look forward to expanding our presence in Liberia with the completion of this acquisition.

“We have continued to advance the development of the Nimba Iron Ore Project in Guinea and planned export of ore through Liberia. For the past 6 months our project team has been focused on ensuring our Nimba Phase 1 will be a low capital intensive start-up phase that will be able to ramp up to full production of 30 million tonnes per annum over a 5 year period.

“With the tender process for construction of Phase 1 finalized in late 2023, we will be announcing shortly the successful contractor. Guinean based environmental consultancy, Insuco, was retained last year to support HPX with our Environmental and Social Impact Assessment (“ESIA”). A review of the extensive historic data base on environmental and social baseline data has been completed along with a number of site visits and meetings with local communities and stakeholders with very positive feedback. Our local community is keen to see work commence on the ground and HPX is preparing to submit a full ESIA to the Guinean Ministry during 2024.”

“I will shortly be meeting with the Chairman of The National Investment Commission (NIC) of Liberia, who also Chairs the Inter-Ministerial Concession Committee (IMCC) that would negotiate and progress our Concession and Access Agreements to export material from the Nimba iron ore project in Guinea through Liberia in the short term, while developments on the Liberty Corridor advance. Whilst in Liberia, I will also be holding meetings with other key Ministers who sit on the IMCC as well as attending the second meeting of the Liberty Corridor Steering Committee where HPX will present the final draft of the Development Agreement for review and approval by the Committee. Once the Development Agreement is approved, this will commence the feasibility study process for the Liberty Corridor. To date, HPX has received a significant number of enquiries from international investors, contractors and Liberians all keen to become involved with this important national infrastructure. I look forward to keeping all parties updated as we progress through the next important phases.”

Liberia - St. John River North and South Licenses

The St. John River iron ore licenses in central Liberia, previously held by BHP, encompass a combined total area of almost 250 km2, giving HPX a significant presence in Liberia, complementing its Nimba Lola iron ore project in Guinea.

The St John River North and South tenements have had limited exploration activity; however, historical mapping work completed by the United States Geological Survey (“USGS”) at the properties demonstrated significant showings of Banded Iron Formations (“BIF”), supporting an iron ore resource exploration target of approximately 650 million tonnes.

17/04/2023

We will soon be back

13/11/2020

My take on VP Taylor refusal to support Senator Henry Yallah.

I personally support the stance of the Vice President not to endorse and and support the re-election of the Senator.

Like VP Taylor, anyone will feel hurt and offended whenever they are disrespected and overlooked without remorse like Senator Yallah did to her. It is of no secret that it was VP Taylor who brought the likes of Sen. Yallah, Rep. Edward Karfiah, Rep. Marvin Cole etc. to the lamplight of politics. Yes she set the stage that brought them national politics today. They all worked with her and for mentored one way of the other. The records are there and visible.

Haven gotten to realized their individual potentials and influence, they all opted to persuade individual political journeys, with little or nothing, she stood by them and ensured they achieved their dreams. She took them as her own children and supported their desires. Yes she did. Like any mother will like to see her child grow up well, she stood for them all. Though contesting on the NDC tight at the time, she provided finances and political direction. The records are still alive.

After the 2011 general elections, the then Senator Jewel Taylor son joined her at the Senate. With joy, she embraced and welcome him because her dreamed have come through to see one of her darling sons joined her at the House of Elders. Not until 2012 Pro Tempt election when her most darling and celebrated son Yallah betrayed her quest to become Senate Pro Tempt against Gbehzonhgar Findley. This was a heartbreaking moment for her to see such coming from a son when in fact she needed the post to strengthen her re-election bid in 2014. Yes she publicly expressed her unhappiness and dissatisfaction with her then son but no one paid heel to her. Without a remorse to beg his mother he has hurt so as to return to status quo, he cares less for he felt the years was still many as a Senator. The relationship with her started to sour. On many occasions, he opposed her interest and decisions as a son thereby leaving her with misfeelings. A son don't treat his mother in such manner. You don't bit the hands that feeds you. Yes you don't.

In 2017 elections, yet again the Senator dashed his mother interest to become the second person in commend at the national leadership (Vice President) when he supported the ruling Unity Party against the CDC. Said decision added insults to injuries. A support for her desire to become VP could settled the past bitterness and close some of the wounds. But again he turned her down. Yes she felt bad.

Why all the unsettled issues still lingering between mother and son, the Senator in his desperation to retain his seat, he rushingly joined the ruling CDC where his then mother is the second person in commend. Still with no remorse of courtesy to return and bed his mother forgiveness and blessings. Yes he still maintained his bigotry and disrespect towards her with one thought that she's having quote unquote disagreement and unfavorable relationship with the President and other elites of the party at such to settle same, she could be persuaded to submission of support to him because of the relationship he's building with them. Little did he know she too has a stance and personal opinion that can't be bent. Yes she's a lady of uprightness and moral principles. You can't disrespect and undermined her and go unnoticed and only come back to hide under a power you perceived to be superior to her decision. The VP got a point and I support her. She must not support Yallah now and any day. He betrayed her as a son.

Now to even add more insults to injuries and reopened more wounds with her the party (CDC), accepted and placed him on the their ticket without the party leadership having the slightest thought to consult and seek her agreement. She takes said decision as an affront and disrespect. Whatever reasons and arrangement that got him on the ticket, it's best known to them. In the spirit of courtesy, the party could have consulted the VP and perhaps firstly settle the long standing bitterness between the VP and her son. Yes that was the best way out and maybe a satisfaction for her before accepting him on the ticket. Mothers can forgive but they must be treated with humility and dignity. I guess if the President and other party stalwarts was sincere and sure of a Yallah win, they could have pleaded with her to accept him. I trust she couldn't turn down her boss and party plead. But again, perhaps they see her decision in such matter as nothing. And this is why I support her decision not to support him in his re-election. Yes fair enough.

Just as CDC will not pick a candidate in Montserrado without President Weah consent, she too must be given similar due respect in B**g as her control area in the Coalition. She must not be pushed against her well only because of her gender. She must be respected. I stand with her not to support her former son because he disrespected and betrayed her since.

Yes I say so.

14/08/2020

Good morning and welcome!