Kipoi Overview

The Kipoi Copper Project is located 75km northwest of Lubumbashi, the capital of Katanga Province, in the central part of the Katanga Copper Belt. The Kipoi Mining Licence covers an area of 55sq km and contains a 12km-long extensively copper-cobalt mineralised segment (ecaille) of Upper Roan (R2, R4) sediments. The project hosts five known copper deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe. As of February 2013, it has a resource of 49.6Mt at 1.7% copper for 840kt of contained copper.

Tiger has adopted a staged development approach at the Kipoi Project. The high grade zone of copper mineralisation at Kipoi Central is being exploited during the Stage 1 development. During the three-year operation of Stage 1, 900,000tpa of 7% Cu is planned to be processed through the heavy media separation (HMS) plant with a recovery rate of 55%, to produce the equivalent of approximately 35,000tpa of copper.

A Stage 2 solvent extraction electrowinning (SXEW) plant is targeted to come on stream in 2014. It is envisaged that ore from Kipoi Central, Kipoi North and Kileba and other deposits within the Kipoi Project, as well as the nearby Lupoto Project, will be processed during the Stage 2 phase.

The project is located close to Lubumbashi, which has an international airport and is linked by a network of roads to the major ports of Dares Salaam in Tanzania and Durban in South Africa.

Local infrastructure is excellent. High-voltage power lines off the national grid and the Lubumbashi-Likasi railway line pass through the project area.

Tiger has a 60% interest in the Kipoi project. The remaining 40% interest in is held by La Générale des Carrière et des Mines (“Gécamines”), a DRC State-controlled company.