MWN 0.00% 5.0¢ midwinter resources nl

News: Midwinter exploring and expanding into Afri

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    Transcription of Finance News Network Interview with Midwinter Resources NL (ASX:MWN) CEO and Managing Director, Adrian Griffin



    Lelde Smits: Hello I’m Lelde Smits for the Finance News Network and joining me today from junior explorer Midwinter Resources NL (ASX:MWN) is CEO and Managing Director, Adrian Griffin. Adrian welcome.



    Adrian Griffin: Thank you very much.



    Lelde Smits: Could you start by introducing Midwinter Resources. What is the company’s focus?



    Adrian Griffin: Yes certainly. Midwinter is a company that is developing the raw materials for the ferrous metals industry in Africa, primarily South Africa where we have magnetite deposits and coal in Swaziland.



    Lelde Smits: And what experience do you have on the Board?



    Adrian Griffin: The Board’s got an enormous amount of experience. Chairman Martin Pyle ex stockbroker, so Martin’s a specialist in capital markets. We have one guy Phil Miolin who’s a professional investor, knows the mining industry inside out. And we have a guy who’s on the Board of New South Wales Treasury, so he looks after a lot of our financial matters.



    Lelde Smits: Now Adrian, as we are at the Africa Down Under Conference in Perth could you detail your interests and when you gained a presence in the continent?



    Adrian Griffin: I’ve had a lot of experience in South Africa in particular and in fact, I used to run diamond mines there. And on my last departure from diamond mining, someone brought some iron ore opportunities to me. And we slowly worked on those and I guess developed those to such an extent that they could be utilised in a public company. About 18 months ago Midwinter was the target; we got hold of Midwinter as a reverse takeover by backing those assets into the Company.



    Lelde Smits: And does Midwinter have any plans to expand your presence into the African continent?



    Adrian Griffin: We do indeed, not only more African countries, we’re African focused as I mentioned previously, but also diversify the commodities that we’re involved in. And to that extent, recently we lodged applications for phosphate licences in South Africa.



    Lelde Smits: Looking closer at the Northern Lights magnetite iron project, where is it located and what is the area prospective for?



    Adrian Griffin: It’s located in the Limpopo Province which is sort of the north-eastern corner of South Africa, not that far from Kruger National Park for those who would know Kruger National Park. Prospectivity is absolutely enormous; we’ve got iron ore deposits there that cover an area very similar to the Hamersley Basin. The deposits seem to be thinner than the Hamersley Basin deposits, but there’s a huge area and a lot of prospectivity there.



    Lelde Smits: And what has drilling uncovered so far?



    Adrian Griffin: Well the drilling there has been very interesting, technically successful. We started an area where there was no outcrop. We flew geophysical surveys over it, identified targets, drilled those targets and sure enough, there were iron ore bodies buried below the surface.



    Lelde Smits: How does Midwinter plan to advance your drilling program?



    Adrian Griffin: Well what we’ve done is produced a regional geological model on the basis of that information. We’ve extended our area of tenure by way of applications, and we plan to extend to the east of where we’ve been working in the past. Where there is actually outcrop and we’ve found iron ore deposits that sit above surface and have no overburden on them.



    Lelde Smits: So is the Northern Lights Project supported by surrounding infrastructure?



    Adrian Griffin: The infrastructure is quite extensive but it’s a little bit old and dilapidated. It’s close to South Africa’s largest thermal power station which is undergoing a rebuild and extension, so that’s going to be very large. Power lines run across the ore bodies themselves. There are railway lines relatively light in terms of axle loading for carting iron ore, but you can cart from the deposits right through to the coast and deliver an export product, if required.



    Lelde Smits: So Adrian, how would you expect to utilise this infrastructure in the future?



    Adrian Griffin: We have a grand plan that is much more than just utilising infrastructure. The Limpopo Province provides an advantage that very few places in the world do. And that is, in the same location you get the iron ore deposits, you have coal, you’ve got natural gas, you’ve got the fluxing material. So you can actually start off with materials in-ground and take them right through to steel. That takes a huge burden off infrastructure.



    Lelde Smits: Now to your financials: What was your cash position at the end of the last quarter?



    Adrian Griffin: $1.87 million.



    Lelde Smits: Finally Adrian, what would you like to see Midwinter Resources achieve in the 2013 financial year?



    Adrian Griffin: 2013 the wish list is pretty simple. We’d like to see the applications that we have in Swaziland granted. That’s an excellent deposit – the coal deposit in Swaziland, in fact it’s a company maker. It’s not going to make another Peabody Coal but it will make the company of Midwinter. So we’d like to see that granted and we’d like to get the iron ore deposits up to resource status.



    Lelde Smits: Adrian Griffin, thank you for introducing us to Midwinter Resources.



    Adrian Griffin: Thank you very much.





    Ends
 
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