Explore – Bring modern exploration techniques for base metal discovery in Nigeria, growing a pipeline of opportunities.
Extract – Develop JORC compliant resource. Apply modern mining techniques and manage operating costs to extract the most value from our assets. Build strong free cash flows.
Expand – Utilise free cash flows to expand our land holding, and grow our resource portfolio. Build Symbol into a mid-tier Nigerian Mining House.
Cashflow and Expansion – Commercialise high end projects that deliver early cashflow. Expansion of our resource footprint to generate greater long term value projects
The Board of Symbol Mining has a clear strategy to expedite cash flow through the commercialisation of high-grade, high-margin Zn, Pb and Ag projects.
Symbol’s initial focus is on its maiden JORC resource at its Macy Project, which commenced production in July 2018. Free cash flow from the Macy Project will enable the Company to self-fund exploration across its tenements.
Symbol’s point of difference is its ability to be a low-cost producer of zinc and lead concentrates, through minimal processing requirements and project locations which are close to road/rail infrastructure. Zinc and lead concentrates are sold to confirmed customers in China and Europe.
Simple production flow sheet:
- DSO from shallow open pit
- Crushing, screening, washing & sorting
- Three product lines anticipated being zinc product (50% Zn), lead product (60% Pb) and mixed product (30% Zn/4%Pb).
- Containers at site, trucked to Lagos to Bollore warehouse
- Containers loaded onto bi-monthly shipping service
- Smelters confirmed in China & Europe