- Country: Nigeria
- Industry: Energy, Natural Resources, Mining
- Stage: Initial growth (first revenues)
- Investment size: $1,000,000 / min. $400,000
We are licensed to explore and mine lead ore to full production capacity with a further expansion to build a smelting factory to cater for both our production. The project is to mine and produce lead ore and other minerals for commercial export and local consumption. Due to lack of mining equipment we have not been able to produced our capacity.
Polyguard Investment Nig Ltd was incorporated on the 5TH day of December, 2001 under the Companies and Allied Matters Decree 1990. Its registration Number is RC: 436999. Our Head office,Eunnies resort,Ankpa Qtrs Road, Opp. NUJ, Makurdi-Benue State.Nigeria.
Directors, are Patrick Odiegwu, Moses Kallamu & Emmanuel Obiekwe, with a combine business experience of over 35years.
The company is registered in Nigeria with diverse business interest. One of such area is mining, processing and export of Nigerian mineral resources. The company has its head office in Makurdi and has acquired a site in Torkula Village in Guma LGA, Benue State. The activities commenced in 2008. as a results of this, heavy duty equipment such as Excavator, Bulldozer D7, Compressor with Jack Hammer, Water Pump and other consumables were mobilized to site for excavation work. The excavation is a process of removing the overburden to expose the vein of Byrite, Lead and Zinc Ore and other Non-Ferrous minerals in preparation for exploitation.
While excavation was on-going, we have removed several trucks of Byrite with average SG of 4.28 these were supplied to Magcobar (MI-Swaco), an Oil Servicing Company in Port-Harcourt. In the same vein, we have also recovered about 18MT of Lead Ore and 1MT of Quartz and Zinc Ore in anticipation for export. Meanwhile, we have only reached active blasting and mining stage, according to the initial geological investigation carried out and going from the incredible results so far achieved, we are fully convinced that the project will herald robust economical explosion to be felt both locally and even on a state level if timely financial assistance is provided.
We are passionate about this project therefore we welcome serious investor/s whom will like to invest to enable the company actualize its objective of being one of the major players in the mining & extraction industry in Nigeria.
The company is looking for investors that will add value to what have been achieved so far, our plan is to start full production as soon as the equipment are on the mining site, with the equipment on site, we can produce between 500 to 1000mt every month. and increase to 5,000mt every month.
With the increase demand from China and the present price of the product according to the seller prices on the London Metal Exchange we ca never be wrong because investors will start yielding their returns on investment which is between 30-35% returns pure profit.
On why you should invest in this project, is that we do not only mine lead ore, from the geological survey carried out and sample analysis carried out on the mining site has large commercial quantity of lead ore, copper ore, zinc ore and byrite.
We have experience, in sales and exportation, because in 2008 we exported 140mt of lead ore to china and many trucks of byrite were supplied for local consumption. we have documents of all the transactions for your information when requested.
We have kept contact with our customers and have letters of intent from our two customers from China and they have shown that ones we start production they will each buy 1000mts form us.
The advantage we have over our competitors is that we have direct contact with the smelters in china and local companies, we do not go via third party trading companies. our payments are guarantee because we ask for bank guarantees and letter of credit as method of payments.
We are also involved with the logistics that is carriage from our mining site to the port of departure, loading on ships and off loading in china, we have agents that analyses and carryout laboratory test on the ore for the purpose of ascertaining the lead, zinc and copper content in percentages for final payments.
Inspection is also carried out at the point of export loading. our customers will pay 80% of the product and pay the remaining after inspection in China, the 80% payment is by letter of credit and the remaining 20% by bank transfer. we will carefully protect your investment bec.ause we know the value attached to commitment.
This advantage is sustainable because of our relationship with the community and the government and our ability to discuss and negotiate with our customers. our competitors do not have a structured system that is operating, so i do not see them successfully carringout our system.
Rationale for the deal
The government of Nigeria have come to terms that the economy of the country needs to be diversified hence they open up to investors to invest in the solid mineral sector that was forgotten for many years, they set up legislations to support the industry it is becaus of that we saw the advantage of going into mining.
With the equipment in place our production cost wil be next to nothing especially a country with a population of over 150 million. the cost of production will be very low, logistics will also be low and as a pioneer company we have been given a pioneer status by the government, that is having tax break for 5 years from the recorded production date.
Base on our finding and check we are one of the few that are mining directly for production and exportation, others are artisan miners and of recent some foreign investors that have invested in some area of the Nigeria.
Use of financing
The investment is for the purchase of equipment and working capital to purchase consumables.
We are looking for investors to partner or invest in equipments and working capital to bring the production to full capacity. we have not been able to do that because of the lack of good conditioned equipments.
As an investor you can purchase or lease the equipments to us and we can negotiate on any terms you want on your returns on investment which will be around 30-35%.
The working capital will also added to the smooth runing of the operations.
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