Gold
Société Minière Moku-Beverendi (SMB) Sprl

Société Minière de Moku-Beverendi (SMB) Sprl has concluded the first phase of exploration of Moku-Beverendi, a major gold prospect.

Fleurette Group owns 65 Percent of gold exploration and development company Societe Miniere Mouku-Beverendi (SMB), through its wholly-owned subsidiary Moku Gold Mines. A joint venture was formed in 2011 with Société Minière de Kilo-Moto (SOKIMO), a DRC state-owned company which holds the remaining 35 Percent of SMB. The project is in the early stages of evaluating the gold and base metal potential of the area. SMB owns gold mining licenses Moku (713 sqkm) and Beverendi (555sqkm).

SMB has invested over $34.5 million in the project, including $14 million on Phase 1 exploration activities. Exploratory drilling has been conducted by Geosearch-SENEX Group.

The first phase of exploration has identified several mineralised targets that have the potential for open pit or underground mining. Initial analysis shows Moku-Beverendi has the potential to contain a world-class deposit, just as the Kibali Gold Project does - the analysis shows the potential for almost 5 million ounces of gold at a range of average grades up to 6.25 grams per tonne.

The second phase of exploration has begun in January 2014. This involves intensifying drilling with diamond drilling core in the target areas, further analysis and ultimately aiming to achieve a Standards of Disclosure for Mineral Projects by Joint Ore Reserves Committee (JORC) and National Instrument 43-101 (NI 43-101) compliant inferred resource by the end of 2014. Phase 2 exploration expenditure is estimated to be $16.5 million, bringing the total project costs by the end of 2014 to $51 million.

This is an extremely
challenging and exciting
project; however we
remain very optimistic
about the opportunity
that exists in the region Karim Robo
CEO, SMB

Business Benefitting the Community

SMB’s permanent on-site workforce is currently 50 people, including geologists, technicians and operational management. The project employs a total workforce of approximately 100 employees.

SMB has also invested in a number of local community projects as part of the Fleurette Group commitment to social projects in the DRC. These include investing in a local radio station, donating seeds to local farmers and the rehabilitation of the road from Watsa to the Moku-Beverendi project, the main transport artery to Kisangani. SMB has also set up a local commission which meets regularly with local community representatives to update them on the project, but also to look at other areas where SMB can provide investment.

Moku Gold Mines is a joint
venture with the state

owned company Société
Minière de Kilo-Moto (SOKIMO)