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Saddleback Corporation Ltd was incorporated in 2004 for the purpose of establishing and owning a Tajikistan registered subsidiary company, Saddleback Gold Corporation (SGC). The Company has offices in Central London and in Dushanbe, the capital city of Tajikistan. The objective of SGC has been to build a conglomerate corporation by securing and operating exploration, mining and processing of resource based projects in Tajikistan, using the skills of the management who have up to twelve years of hands on mining experience in the country. The focus is primarily on bitumous coal, coking coal, anthracite and gold projects.
In 2006 Saddleback entered into a joint venture agreement with a Tajik company, Kulla Ltd, which had been awarded the exploration licence for a 950,000 oz C2 & P1 category gold deposit called
Tabospin, located in Tajikistan’s Zaravshan Mountains.
An important decision was made in the summer of 2007 to become a major player in an anthracite project (Kaftar Hona) and a coal project
(Mienadu).
In August 2007 Saddleback entered into a joint venture agreement with Komarob Ltd (Kaftar Hona anthracite
deposit). Kaftar Hona is a 174 million tonne C2 & P1 category deposit which according to Soviet records is considered to be one of the richest anthracite deposits in the world. An aggressive civil engineering programme was carried out to build a 6 meter wide road 60 kilometres to the deposit which was achieved by late summer 2008 together with the construction of an entire mine camp infrastructure, upon which small production was started immediately.
Saddleback also entered into a joint venture agreement with a Tajik Company called Vrumon Ltd, which has the extraction and exploration license for the
Mienadu coal deposit. With management and financial control the project was in production by late August 2007. Mienadu is a steaming coal deposit with 5 million tonnes in the C1 & C2 categories and up to 650 million tonnes in the prognostic category.
In early summer 2008 Saddleback acquired a majority percentage holding of Sangalt Ltd, a rich bitumous coal project called East
Zeddi with 17 million tonnes of coal ready for immediate extraction. Mining was started within days of purchase and against all predictions production estimates were exceeded and sold by seasons end in early November.
In addition to Saddleback’s existing projects, a licence application has been submitted to the Tajik Government for a 6.9 million prognostic (“P” category) ounce hard rock gold exploration project called
Rankul.
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