MDM Engineering Group Ltd MDM awarded Panda project (8926J)

TIDMMDM

RNS Number : 8926J

MDM Engineering Group Ltd

18 June 2014

MDM Engineering Group Limited

("MDM" or the "Company")

MDM is awarded the PFS for Cradle Resources Panda Hill Niobium Project

MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry in Africa, is pleased to advise that it has been awarded the Pre-Feasibility Study ("PFS") for Cradle Resources' ("Cradle") Panda Hill Project (the "Project").

Cradle has identified a unique opportunity to enter into the specialty metals market through the development of the Panda Hill Project in south west Tanzania. The Project currently holds three valid mining licenses to search for, mine, dig, mill, process, transport, use and or market Niobium.

The Project is in the preliminary stages of development with a scoping study having been completed in January 2014. Approval has been given by the Cradle board to proceed to the next level of project development which will consist of a fit-for-purpose PFS with the option to move directly onto a definitive feasibility study if the results from the PFS are positive.

George Bennett, MDM Executive Director said:

"The MDM team look forward to working on this project which will be headed up by our Niobium expert, Roger Leighton, one of MDM's Lead Process Engineer. Our current working experience in Tanzania, on African Barrick's Bulyanhulu project, will add great overall insight in working on this project.

Enquiries:

 
 MDM Engineering Group Limited         Tel: +27 11 993-4300 
 Martin Smith (CEO) 
 George Bennett (Executive Director) 
 
 Canaccord Genuity Limited             Tel: +44 (0) 207 523 8000 
 NOMAD and Broker 
 Neil Elliot 
 Chris Fincken 
 Joe Weaving 
 
 Tavistock Communications              Tel: +44 (0) 207 920 3150 
 Financial Public Relations and 
  Investor Relations 
 Emily Fenton 
 Jos Simson

KEY INFORMATION:

MDM:

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services including metallurgical testwork support, Preliminary Economic Assessments (PEA's), and bankable feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 25 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management "EPCM" or "cost-plus" basis and on a Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

www.mdm-engineering.com

CRADLE RESOURCES:

In April 2013, Cradle Resources (ASX: CXX) agreed to acquire Panda Hill Mining Pty Ltd (Panda Hill) which has a world class niobium project in the Mbeya district in South West Tanzania. As a result of this acquisition, the Panda Hill Niobium project is now the main undertaking of the Company.

www.cradleresources.com.au

This information is provided by RNS

The company news service from the London Stock Exchange

END

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