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Sail Mining Group Ltd
Unit 25 Sunninghill Office Park
4 Peltier Drive, Sunninghill
Phone: +27 112398800p:+27 112398800 JOHANNESBURG, 2196  South Africa Ticker: SGPSGP
Filed for Insolvency on 7/5/2021
On 7/5/2021, Chrometco Limited announced its Mining and Chrome Wash Plant operations would placed in care and maintenance and Sail Minerals (Pty) Ltd would apply for Business Rescue. Chrometco Limited applied to the High Court for Provisional Liquidation due to severe financial pressure pursuant to the prevailing chrome commodity market price, the Covid-19 pandemic and the Adjusted Level 4 lockdown with limited access to external sources of funding.
Business Summary
Sail Mining Group Limited, formerly Chrometco Limited, is a South Africa-based international commodity trading company with a special focus on chrome. The Company’s projects include the Black Chrome mining project, the Palm Chrome exploration project, and the Rooderand mining project. The Black Chrome Mine is a developing underground chrome mine having an approximated economically minable reserve in excess of 20 000 000 tons of chrome ore. The mine is located on the farm Mooihoek in the central region of the Eastern Limb of the Bushveld Igneous Complex in South Africa's Limpopo province, 100 kilometers (km) southeast of the town of Polokwane. The Mooihoek farm is underlain by a number of chrome seams. The Palm Chrome exploration project covers an area of some 15 square kilometers, 200 km north-west of Johannesburg and 60km north of Rustenburg. The Rooderand property on the Western Limb of the Bushveld Igneous Complex, some 60 km north-west of the town of Rustenburg.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
8/31/20212/28/2021Yes----

Industries
SIC Code Description
1099 Miscellaneous metal ores, not elsewhere classified
1411 Dimension stone
1021 Copper ores

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chairman of the Board Gregory D.Hunter 10/11/2023 7/6/2023
Chief Executive Officer, Executive Director LeeMcCann 5/11/2020 5/11/2020
Chief Financial Officer StephenRowse 8/1/2024 8/1/2024
Non-Executive Independent Director LouisJordaan 10/11/2023 8/11/2017
Non-Executive Independent Director NokuthulaThomas 8/11/2017 8/11/2017

Business Names
Business Name
Black Chrome Mine (Pty) Ltd
Chrometco Limited
Chrometco Mining Services (Pty) Ltd
8 additional Business Names available in full report.

General Information
Outstanding Shares: 2,542,429,000 (As of 8/31/2021)
Shareholders: 1,477
Stock Exchange: JNB
Fax Number: +27 866793589


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Friday, November 22, 2024