MDM Engineering : awarded Panda PFS

MDM is awarded the PFS for Cradle Resources Panda Hill Niobium Project 18 June 2014

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

Martin Smith (CEO)
George Bennett (Executive Director)

Tel: [phone]

Canaccord Genuity Limited
NOMAD and Broker

Neil Elliot
Chris Fincken

Tel: [phone]

Tavistock Communications
Financial Public Relations and Investor

Emily Fenton
Jos Simson

Tel: [phone]

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.