Baobab Resources

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Baobab Resources Plc (Baobab or the company) is a London-based, AIM-listed (AIM ticker “BAO”) junior exploration company focused on exploring and developing mineral deposits in Mozambique. The company has a total of 25 prospecting licenses in Mozambique covering an area of 4,760 km2. The two main prospects are the Manica Project Area and the Tete Project Area. The Manica Project Area is host to a significant portion of the eastern extension of the Odzi-Penhalonga-Manica greenstone belt, which has produced more than two million ounces of gold approximately 10 kilometers away in Zimbabwe. The Mundonguara copper mine with gold and silver credits (“Mundonguara”), Baobab’s most advanced project to date, is within this project area. Mining at Mundonguara was opened in 1902 and continued operations until 1989 when the mine was shut down due to the civil war in Mozambique. Baobab is now working to increase Mundonguara’s resource base in order to develop commercial operations. The Tete Project Area is located immediately north of the provincial capital of Tete and is composed of 3 contiguous exploration licenses. The licenses contain 5 known vanadiferous titano-magnetite deposits. The area is considered analogous to various mineralized systems including the Bushveld Complex and is therefore also prospective for Platinum Group Metals (“PGMs”) mineralization as well as nickel/copper sulphide deposits. The Tete Project Area is still in the early exploration stage. Baobab is also undertaking exploration at Changara (Broken Hill type deposits), Sussendenga (gold lode desposits) and Senga Senga (Telfer type deposits). Baobab is seeking IFC’s engagement to help with general corporate purposes, including financing the company’s exploration activities in the Republic of Mozambique in line with industry best practice in environmental and social sustainability.