• Increase font size
  • Default font size
  • Decrease font size

Tagged with: Reports

Oct 2006 - Sally Malay Mining

Sally Malay Mining Limited (SMY) –Increasing After-tax Profits to >A$60mpa

  • With nickel averaging ~US$28,300/t in SQ06 (US$12.87/lb or 40% higher than JQ06 in A$/t terms at A$37,400/t), and copper ~US$7,640 (US$3.46/lb), SMY may have had a spectacular quarter, easily the best so far. Even providing for hedging, in SQ06 SMY may have exceeded last years’ NPAT of ~A$16m. Significant after tax profits are being generated at these nickel prices, if nickel averages US$20,700/t in 2008 (in line with its forward price), SMY’s after tax profit could then be >A$110m.
  • Sally Malay recently gave a production forecast lasting 10 years based mainly on its namesake mine of Sally Malay which according to our modelling is the main profit driver behind the company. However, the forecast does not take into account the lower orebody or extensions on strike along the boundary of the intrusion, that could extend SMY’s life well beyond 10 years.
  • Sally Malay expects to use the spare capacity in its mill to treat ore from Copernicus (in JV with Thundelarra) and from Panton (in JV with Platinum Australia). However, the additional profits from these two satellites are relatively small compared to Sally Malay using our current price profiles, grade and cost estimates, and have been excluded from our total modelling.
  • Lanfranchi’s current estimated life at ~10,000tpa nickel production is about 5 years. However, it has the potential to be significantly longer since there appears to be little difference between the mineralised lava channels at Lanfranchi and the lava channels at Kambalda and Widgiemooltha that have been found by the other small nickel sulphide producers to extend on strike for many kilometres.
  • Production at both of SMY’s WA nickel mines, being the 100% owned Kimberley Nickel Mines (KNM) and 75% owned Lanfranchi Nickel Mines (LNM) has settled down and blossomed, and could achieve an attributable ~13,500tNi in the year to June 2007 and ~18,000tNi attributable in 2008 according to our (ERA) estimates.

Oct 2006 - Platinum Australia

Platinum Australia Ltd (PLA) – Smokey Hills Production Still Expected from 2007

  • All 3 Platinum Australia (PLA) projects are now on a path to platinum production, with Smokey Hills (Eastern South Africa) expected to start production early in 2007. The Panton project in WA could be in production in JV with Sally Malay by the end of 2007, and Kalplats (Central South Africa) after the expected completion of its BFS by the end of 2007, could be in production in late 2008 / early 2009.
  • Smokey Hills received its “New Order” Prospecting Right on 11 September 2006 through the cessation (or transfer) of the New Order Prospecting Right from its JV partner (Corridor Mining Resources) to the JV company (PhokaThaba Platinum Pty Ltd) in which PLA holds 80%. Application has been made for the New Order Mining Right, which may be received by late 2006 or early 2007.
  • Should the Mining Right be received by early 2007, PLA expects to start mining and toll treating Smokey Hills’ UG2 ore through a nearby plant, while constructing its own concentrator for production of ~100,000ozpa 4EPGE (Pt, Pd, Rh & Au).
  • A “New Order” Prospecting Right was also received for Kalplats on 11 September 2006 and drilling has consequently started aimed at increasing the size of the resource, as part of completing a PFS by April/May 2007 and a subsequent BFS by the end of 2007. Production is targeted at 170,000ozpa to 270,000ozpa 3EPGE with PLA earning a 49% interest from ARMplats.
  • Both Smokey Hills and Kalplats appear to have significant upside potential. Smokey Hills could extend its planned mining west across the boundary into Modikwa ground in an arrangement with ARM/Angloplats, while Kalplats appears to have been misunderstood, with recoveries ~80% using conventional techniques, & potentially material extensions on strike and on parallel structures.

Nov 2006 - Albidon Limited

Albidon Limited (ALB) – Bringing Munali Into Production at 9,000tpa Ni and ~US$2/lb Cash Operating Costs

  • In the 2.5 years since its IPO in March 2004, Albidon has significantly advanced its main project of Munali Nickel (with Copper, Cobalt and PGE credits) in Zambia. Recently completing the BFS and receiving all the required Zambian approvals for construction and production from the mine at an estimated 900,000tpa to produce 9,000tpa Ni for at least 10 years from mid-2008 at cash operating costs of ~US$2/lb (ERA’s cost estimates are : Operating ~US$1.80/lb,C1~US$1.65/lb,C3~US$2.35/lb).
  • Albidon is currently cutting the box-cut for the portal to develop the underground mine at Munali, and expected to finalise its offtake agreements and financing of the ~US$65m project capex during the current quarter to December 2006.
  • The discovery at Munali is still being extended and has almost reached 110,000t of contained nickel. Due to nearby exploration similarities and potential extensions to the existing mineralisation, Munali may become a Tier 1 discovery (the most sought after by the major companies with a potential profit of >US$1bn).
  • Albidon’s next most advanced project appears to be Njame Uranium, also located in Zambia and immediately SW of Munali. Already a resource of 2,200t U3O8 has been delineated at Njame North, and it appears to have a similar style of banded mineralisation in sandstones to Paladin’s Kayelekera Project further northeast.
  • Although the next most likely mine after Njame at this stage appears to be its Luwumbu Platinum JV with Goldstream and Lonplats, Albidon’s holding is being gradually diluted down to effectively a 3% royalty. However, Albidon does have a number of other exploration prospects that are showing potential in the East African S-shaped nickel belt that passes from Tanzania through to Botswana.

Dec 2006 - Golden Tiger

Golden Tiger Mining NL (GTX) –Encouraging Intersections at Weilong

  • Golden Tiger Mining has retained its concentration on the Guangxi Province of Southern China, having moved to focus on drilling its new Weilong project in Western Guangxi, and take its other main potential projects around Huangganchong, Huangguan and Zhudong in its ~15,000sq km (~194km x 75km & ~51km x 56km) Dayaoshan JV area of Eastern Guangxi through geochem to soil sampling and drilling.
  • The latest drillhole intersection of 9m @ 5.2g/t at Weilong, is GTX’s most encouraging result in China since its inception. Lying within 48m @ 1.5g/t the WDDH 4 intersection is in line with some of GTX’s sampling in the old workings of 26m @ 2.7g/t, and supports the potential stacked lode system interpretation.
  • The next most prospective area after Weilong could be at Huangganchong, with its >50ppb gold anomaly over 1km long along a NE/SW structure. There are a number of values above 250ppb (usually classified as drill-ready) with peaks to 500ppb.
  • The third group of projects showing very early geochem promise are in the Huangguan vicinity (being Changtian and TongHe), and Fengyuan and Muyikou south of Zhudong. Higher values have been identified from stream geochem at these projects, and they are being followed up with grid soil analysis.
  • The prospectivity of Yueli may return assuming that shareholders approve the alliance with Sino Gold (SGX) that results in SGX holding 19.9% of GTX through subscribing for 15.3m shares at A$0.10/share and raising A$1.5m for Golden Tiger.

Mar 2007 - WCP Resources

WCP Resources Limited (WCP) –Exploring and Drilling Specific Targets

  • Since the appointment of Levi Mochkin to the board in April 2006, WCP has aggressively established an Australian exploration portfolio of overlooked gold, copper, and/or uranium prospects, and turning them to account through re-examining their geology and then drilling specific targets.
  • Early success already occurred in late 2006, with a gold intersection of 33.8g/t over 9m (within 22m @ 14.9g/t) about 50m below the bottom of the old ~50m deep Whistler Pit of the Montague Goldfield Project in central Western Australia, with assays pending from subsequent drilling. There is the possibility of further upside potential with mineralisation identified in the perceived barren hangingwall, the possibility of flatter mineralisation, and encouragement further south at Rosie Nth.
  • WCP has three copper-gold-uranium targets in different parts of Australia, being the shear-hosted Mombo Bore in WA, the IOCGU of Lake Torrens in SA and IOCG at Lilleyvale in QLD. Initial 3d-IP surveys have recently been completed at Mombo Bore identifying potentially significant drill-ready targets at Kingfisher & Mickey’s Well. Depending on drilling results, WCP may have made a new discovery.
  • The Lake Torrens JV appears to a be a standard IOCGU target located at the exploration “hot-spot” on strike northwest between Prominent Hill and Olympic Dam in SA, (and in fact consists of a number of targets), while the Lilleyvale IOCG in QLD is located on strike southeast of Ernest Henry and Cannington.
  • WCP also has a number of palaeochannels that have the potential to contain uranium in the calcrete-form amongst 6 WA projects (with historic trenches and sampling dating back to the late 1970s) and in the sandstone-form in the Coulta JV in SA (on which a recent 2007 radiometric survey verified the potential for anomalous uranium).

Apr 2007 - Mintails Limited

Mintails Limited (MLI) – Recreating ERGO with a 300,000ozpa Gold Production Target

  • Mintails (MLI) which had the rights to a number of sand and slimes dams west of Johannesburg in South Africa, merged with Skeat Mining who had their own mining fleet (of CAT 777’s) and an option over the old ERGO treatment plants and some sand and grit dumps east of Johannesburg in January 2007. The result is a company that could restart a more efficient ERGO, producing gold & uranium.
  • Anglogold’s ERGO (East Rand Gold Operations) treated over 900mt of sand and slime in a 27-year period from early 1978 to December 2004, and produced about 8.3moz gold and possibly ~2,500t of uranium. In its peak years, (not all the same year) it treated 51mt of slime, produced over 460,000oz gold and ~300t of uranium.
  • When ERGO closed its Brakpan plant in 2004, there were still a number of slimes dams that could be processed within its own stable and those owned by other mining companies, but they became uneconomic at a cost of US$400/oz (including head office expenses), and ERGO was wound down and closed during MQ 2005.
  • Mintails can be subdivided into 3 divisions, namely : sand and grit, slimes, and other projects. The sand and grit operations at Mogale in the west and HVH in the east, are providing the current cashflow while the WERGO slimes plant is being constructed for gold and possibly uranium production adjacent to Mogale, and WERGO – East could be based on refurbishing the old ERGO plant at Brakpan.
  • MLI could be able to achieve production of 300,000ozpa from treating 3.6mtpm by the end of 2011, however, we have used a more conservative build up to 2012.

May 2007 - Mineral Deposits

Mineral Deposits Limited (MDL) –Taking Two Company Making Projects into Production in 2008

  • Mineral Deposits (MDL) is one of those rare companies that has two company-making projects, being its Grande Côte Zircon Project and Sabodala Gold Project both in Senegal, West Africa and both currently expected to commence production about the same time, being ~ the September / December Quarter 2008.
  • The Grande Côte Zircon Project consists of processing near-shore sand dunes at a rate of ~52mtpa, from possibly late September Quarter 2008. MDL has ~60 years’ experience processing mineral sands in NSW during which it received a number of environmental awards, and recognised similarities between its past experiences and the Grande Côte Project, which could produce ~ 90,000tpa or more of Zircon.
  • The Sabodala Gold Project is expected to produce an average of ~150,000ozpa (initially 200,000ozpa or higher) from its rated 2mtpa plant over at least a 6–year mine life. MDL appears to have most of the North Mara management team, besides extensive experience within its board to construct, commission and operate a gold mine in Africa.
  • Both operations are being constructed by Ausenco (who have built numerous projects, most recently SGX’s Jinfeng mine), and the operations appear to have the potential to achieve higher than rated capacities. The Sabodala Gold project in particular may be able to initially achieve significantly higher than forecast grades.
  • Both projects have the potential for higher resources, Grande Côte’s being north along the coast, and more than estimated; and Sabodala : regionally both inside and outside the lease, at depth, possible other joint ventures, and in comparison to nearby orebodies (such as Sadiola [14moz], Loulo [8moz], & Yatela [ >2moz]).

Jun 2007 - Jabiru Metals

Jabiru Metals Limited (JML) –Bringing Jaguarinto Production at ~30,000tpa Zinc & Establishing Two Additional Zinc Mining Operations by 2010

  • Jabiru was founded on the Jaguar VMS (volcanogenic massive sulphide) orebody located about 55km north of Leonora in WA, which according to ERA assumptions with Teutonic Bore, could produce ~40,000tpa Zinc (Zn) and ~15,000tpa Copper (Cu) per year at C1 cash costs of (minus)US$ - 0.25/lb Zn (after by-product credits).
  • There is significant potential for the Jaguar/Teutonic Bore ~3mt massive sulphide field to be increased, based on comparisons to other fields such as Golden Grove at 44mt and Rosebery, now at 38mt, which have multiple lodes in clusters and depth extensions. Jabiru’s orebodies could extend on strike or have others within the 4km distance between them as the historic exploration was only based on 600m centres from the original Teutonic Bore mine, and the current orebodies have ~300m strike footprints based on relatively shallow depths.
  • Jaguar was designed on the basis of a 5-year mine life, which appears to easily be capable of being achieved. Aside from extensions to the orebody on strike and at depth, Teutonic Bore exhibits the potential to be re-opened possibly as a mixture of an open-cut cut-back and underground stoping, by the first half of 2009.
  • JML recently won the tender for the Benambra VMS orebody in Victoria, with a possible 8-year life @ 1mtpa and production of ~30,000tpa Zn & ~14,000tpa Cu (based on a preliminary scoping study), and expects to soon start drilling and complete a BFS by late 2008/early 2009 for production by mid-2010.

Aug 2007 - Sally Malay Mining

Sally Malay Mining Limited (SMY) –Heading with Deacon and Sally Malay to >20,000tpa Ni within 2 years (by 2009)

  • Sally Malay has made significant discoveries at both its namesake operation in the Kimberleys of northern WA with the potential Northern orebody, and the probably >60,000t Ni Deacon orebody at Lanfranchi, south of Kambalda.
  • The company-making Deacon alone enables Lanfranchi to attain expected production rates of 350,000tpa, which when added to Winner and a deeper more consistent Lanfranchi orebody, could result in the Lanfranchi mine producing ~15,000tpa Ni from 2009, of which SMY’s 75% would be an attrib ~11,000tpa Ni.
  • The recent discovery of the potential Northern orebody in May/June 2007 at the western end of Sally Malay could result in the mine to achieving throughput rates of ~0.8mtpa to 0.9mtpa in its own right and production of ~10,000tpa to 12,000tpaNi, without Copernicus. Add SMY’s 60% of Copernicus and production ~11,000tpa to 13,000tpaNi may be achievable.
  • The intersection of Ni mineralisation in the Sally Malay decline, resulted in the discovery of the possible Northern orebody with an intersection of ~18m @ 2%Ni and realisation that the Turkey Gabbro dips ~60ºNorth (not vertically), increasingly exposing the Sally Malay intrusion with depth. Further fan-drilling (assays pending) has exposed new mineralisation as potential additional ore sources.
  • There is also significant exploration upside potential at Lanfranchi, ranging from more continuous Lanfranchi orebody mineralisation (based on EM infilling), Deacon/Helmut having joined, extending deeper & possibly even meeting Schmitz. Plus the initial disseminated nickel encouragement from the Northern dome.

Aug 2007 - Avoca Resources

Avoca Resources Limited (AVO) –Targeting Gold Production >200,000ozpa from Two Operating Mines by 2009

  • The recent acquisition of Chalice and its tenement package has opened up a significant number of drill-ready targets for potential mineralisation that could become a second mine or additional ore source for Avoca’s developing Trident mine near Higginsville in WA, and take its production well beyond 200,000ozpa.
  • The supergene discovery at Wills (~25km north of Trident), lends weight to our (ERA) expectations that the new Higginsville mill could treat ~1mtpa from the Trident underground, and ~0.2mtpa to 0.3mtpa from the numerous near surface open-cuts and low grade stockpile resources for many years to come.
  • At AVO’s Higginsville operation, two drives intersected Trident’s Eastern Lode ore in July 2007, namely the steeper dipping Eastern Lodes (on 1170 Level), and the flatter dipping Eastern Lodes (on 1155 level), starting to build an ore stockpile.
  • Exploration appears to be establishing that the gold veins at Poseidon extend from the old pit through the Poseidon South underground, and then directly link through Trident to the recent intersections 200m north of Trident (and still open north on strike), with the pyrrhotite and arsenopyrite (non-refractory, more crystalline) event providing the spice for the higher grades.
  • At Chalice itself, there are a number of possibilities post dewatering the old open-cut, with unmined ore under the southern wall, a series of IP anomalies to be drilled that have similar signatures to Chalice, and the Cavalier Prospect which has surface mineralisation and intersections resembling that above Trident.
  • The interim treatment of Trident ore before the 1mtpa (rated hard) plant is completed by mid (June/July) 2008 has become more complex with two solutions (Paddington and Norseman) having fallen into AIM listed (private equity backed) hands, and consequently toll treatment costs at all available plants have soared to unfriendly (ERA’s viewpoint) >A$30/t levels (which could delay planned stoping).

Nov 2007 - Territory Resources

Territory Resources Limited (TTY) –Increasing Production Towards 2.5mtpa of High Quality (~62%Fe, ~1% loi) Iron Ore

  • On 28 September 2007, Territory Resources (TTY) made its first shipment of 67,500t of high grade (~63%Fe) iron ore from Darwin to China, sourcing the ore from its Frances Creek operation near Pine Creek in the Northern Territory. TTY envisages ramping up to 1.5mtpa, then towards 2.5mtpa and possibly later 3mtpa.
  • TTY’s Frances Creek operation has been able to start debt-free due to the cash injection from Michael Kiernan’s Crawley Resources and very low capex below A$15m (of which ~A$10m was on facilities at the port). Mine life at this stage appears to be at least 5 years based on current resources of ~10mt and achieving a production rate of 2.2mtpa (ERA’s estimate) from December 2008.
  • The Frances Creek operation appears to currently be Australia’s highest grade iron ore producer (possibly even the world’s), and aside from grade it has significant advantages over other Australian iron ore producers with the shortest shipping distance from Australia to China, and only 15km by haul road from the mine to a new railway siding ~190km south of the Port of Darwin.
  • The Frances Creek mine’s original heyday was in the 60’s and 70’s and it was forced to close mainly due to Cyclone Tracy destroying the ship loader & most of Darwin in December 1974, combined with the rail freight prices increasing by 50% to try and keep the then aging railway operational. Viability was restored with the completion of the new railway to Darwin in 2004, and the Port of Darwin injecting A$24m into a new shiploader (completed in July 2007), with greater port facilities.
  • Due to the advances in geological exploration techniques since the 1970’s and the ability to both upgrade and sell varying grades of iron ore through the Noble Group to China, TTY appears to have the potential to significantly increase its resources, reserves and possibly production at Frances Creek.

Nov 2007 - Vulcan Resources

Vulcan Resources Limited (VCN) –Bringing its First Outokumpu-Ore-Style (Cu-Co-Ni) Finnish Mine into Production by 2010

  • Vulcan has made significant progress in the past 3 years’ since acquiring Outokumpu’s (OTK’s) base metal mine assets that were held by the Polar Mining subsidiary of Dragon Mining in two main regions of Finland, being the Outokumpu Cu-Co-Ni field and the Kuhmo-Suomussalmi Ni-Cu-PGE greenstone belt.
  • At Kylylahti in the Outokumpu field, VCN expects to complete its BFS during MQ08 and using monies from its recent rights issue and placement, could possibly start the decline during JQ08, with production potentially from 2010 (~100 years since Outokumpu started its mine on the Keretti orebody & became a major company).
  • The mineralisation at Kylylahti is classic Outokumpu-style with the recent deeper intersections of 5% to 9% Cu closely resembling Keretti-type ore visually, in content and in grade. Kylylahti also appears to consist of a series of lenses of ore, again similar to Outokumpu’s previous main mines at Keretti and Vuonos.
  • One of the main advantages of having Outokumpu-type ore is that a proven metallurgical route of processing the ore is already known, which VCN are modifying using latest techniques to result in higher recoveries. The roaster site which is being used to treat Kylylahti ore in fact originally treated another Outokumpu-type ore, namely that from OTK’s 3rd mine in the district (Luikonlahti).
  • The Kylylahti orebody has a 30% to 50% semi-massive higher grade keel that is to be mined for the first 7 to 10 years, followed by a lower grade disseminated hanging-wall for the mine’s probable life of 15 years to 20 years or so.

Dec 2007 - Zambezi Resources

Zambezi Resources Limited (ZRL) –Focusing on Cheowa in Eastern Zambia for its First Company-Making Project

  • Zambezi Resources appears to have at least 3 potential company-making projects in an area ~4 hours drive (or up to 200km) east of Lusaka in Zambia. The 3 projects in order of state of advancement (starting with the most advanced) are : Cheowa, Kangaluwi, and Mulofwe, with the exploration drilling currently focusing on Cheowa and Kangaluwi.
  • Cheowa is a copper-gold project located north of the Cheowa Lodge on the Zambezi River about 100km east of Lusaka. Glencore is farming-in to earn a 51% interest in the project through spending US$10m which is expected to occur by mid-2008, and has already made an offtake agreement with ZRL (should the project be viable) for the resulting copper-gold concentrates.
  • Cheowa is undertaking a scoping study focusing on initially a ~2mtpa plant possibly producing ~27,000tpa copper and ~27,000ozpa gold, completing a PFS in mid-2008, running into a BFS, and conceptual production by 2010. Revised resources to 180m depth over 1.2km (of the ~15km strike length) were reported in Dec 2007, with a further revision expected in April 2008, and indications of depth capabilities in the 400m to 800m zone being delineated in the MQ08 programme.
  • At ZRL’s 100% held Kangaluwi, having defined a possible copper-gold stacked lode system (assays pending), exploration expects to use ~ 6 rigs to drill ~50,000m RC during 2008. Kangaluwi has a number of possible orebody district comparisons throughout the world, being folded both in plan and in section.
  • Mulofwe is probably the next potentially promising project, with numerous (almost like a swarm) east-west striking quartz veins containing predominant/y copper-gold mineralisation. Mulofwe includes a number of target areas such as Mwapula (with its high lead [visible galena] values) and rock-chip samples up to 12% copper, 32% lead and 212g/t silver amongst old artisanal mine workings.
  • ZRL has a number of possible gold production areas, having undertaken most of their studies at Chakwenga which lies amongst a number of old workings that followed narrow, high grade veins. Chakwenga was initially a higher priority target but has become lesser, due to the progress at Cheowa and Kangaluwi.

Feb 2008 - Golden Tiger Mining

Golden Tiger Mining NL (GTX) – Making Steady Exploration Progress

  • During the past year Golden Tiger (GTX) has applied a systematic grass roots approach to its Central Dayaoshan exploration Area by applying stream geochem (to delineate the main anomalies), soil sampling (to verify the anomalous areas) and then drilling, which has resulted in an initial focus on the ELs of Changtian, Liaodong, Pingshuichong, Tangmian and Tonghe.
  • The more advanced Weilong Prospect (in NW Guangxi) is undergoing re-interpretation, involving a stacked lode system. Initial drilling has shown a gold/pyrite association and a best intersection of 9m @ 5.5g/t. Drilling was in progress when we visited the site in November 2007.
  • At most prospects that we visited, there were artisanal workings nearby (some old & some new), which provide good exposures to the styles of mineralisation being mined such as usually breccia, quartz veins and/or stockworks. Most mineralisation appeared to be non-refractory and amenable to gravity recovery.
  • At Baishishan in the Liaodong EL, the artisanal activity had advanced to the degree of installing electrical lighting underground and new tunnels being dug. Examination of the underground shows a sizeable brecciated/stockwork area, possibly >25m thick. Drilling started during January 2008.
  • The Shuilong Prospect in the Tonghe EL reported the extremely high sample grades up to 477g/t and 11%Cu in the old workings, with a number of other samples in the >20g/t vicinity. Shuilong is the most advanced of the three prospects at Tonghe, with the other two, namely: Liuqin and Jinkunchong to be soil sampled and mapped during 2008.
  • The Teningding Prospect in Changtian’s EL consists of three areas (two have been artisanally mined) of which probably the open-cut /underground “tunnelling” was used most recently and treated through a small plant with a large shaking table. Sampled grades have been encouraging.

Mar 2008 - Albidon Limited

Albidon Limited (ALB) –Munali Heading For Production from April 2008

  • The appointment of Byrnecut using drilling jumbos has resulted in Albidon exposing the main orebody at Munali in January 2008 (two months ahead of schedule) and it now expects to start feeding ore through the mill in April 2008.
  • The plant at Munali is expected to produce ~9,000tpa Ni (with copper, cobalt platinum and palladium credits), based on a plant design capacity of 900,000tpa. However, 1mtpa appears to be achievable, and the plant has been designed for expansion, which could result in a treatment rates potentially >1.1mtpa.
  • A resource has now been established at Voyager (adjacent west on strike to the main Enterprise orebody) and the understanding of the mineralisation and orebody infers that further extensions to the orebody are possible, especially at depth, such that Munali could still become a Tier 1 orebody (worth >US$1bn).
  • Albidon’s next most advanced Project appears to be its Njame Uranium JV, also located in Zambia and immediately SW of Munali. It appears to have a similar style of banded mineralisation in sandstones to Paladin’s Kayelekera Project further northeast, and is currently undergoing a PFS scheduled for completion in MQ08.
  • Although BHPB pulled out of the Selebi-Phikwe JV in Botswana because it did not meet their potential orebody parameters, ALB has identified a number of targets such as Sunnyside that appear to have Selebi-Phikwe type signature structures.
  • Albidon has a number of other joint ventures throughout Africa in which material progress is being made, with BHPB continuing to focus on Songea Nickel in Tanzania, and Zinifex making encouraging progress with intersections such as 8m @ 11.7%Zn within the historic Bou Aouane mining district at Nefza, Tunisia.

Kitco Spot Gold Price

   Click Chart for Spot Gold Price[Most Recent Quotes from www.kitco.com]

Stock Quote

  (Add .ax for ASX)