Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to note MOD Resources (ASX:MOD) announcement today with regard to the Company’s Joint Venture (“JV”) project with MOD Resources in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).
Metal Tiger notes that MOD has announced that it expects the results for Metal Capital’s scoping study for a potential open pit mining operation at T3 to be completed and announced during November, one month ahead of when previously anticipated. Metal Tiger notes that the scoping study has been conducted to evaluate the potential for a 9-10 year mine life with an initial 2Mtpa processing plant on site.
A copy of MOD’s announcement can be found here.
Alex Borrelli Chief Executive Officer of Metal Tiger commented:
“I am pleased to note the positive development that the scoping study will be completed nearly 1 month ahead of schedule. I look forward to meeting with our JV partners during their visit to London at the end of November and I am very encouraged by the recent gains in the price of copper and the potential to positively impact demand for copper assets”. SOURCE
Friday 18 November 2016
Thursday 20 October 2016
Hopes shattered as TNMC caves in
Reacting to the mine closure, the Francistown mayor, Sylvia Muzila said the closure is a wake up call for all to join hands and come up with new strategies that can save the city’s economy.
As TNMC is located on the outskirts of the city, its +/-700 employees resided in Francistown and commuted to their workplace daily.
Muzila said the mines provided a high-income bracket, which elevated their buying power and boosted the economy of the city. She stated that the closure is already impacting on the city’s economy negatively as Francistown had a vision of attracting investors through the mines.
“This dream shattered when the mines closed down. This challenges us to diversify and come up with better ways of saving the city’s economy,” Muzila said.
She said the city’s unemployment rate has increased since hundreds of people were laid off.
Muzila said the closure has had a huge negative impact on businesses and individuals who took advantage of the mines.
“The closure will impact negatively on people’s assets as they might put them for sale or rental hence forcing property markets to drop. This will also affect us as the council because we will be forced to reduce our rates,” Muzila said.
She added: “When the property market drops, it will surely affect the city’s economy”.
She said through their Francistown Investment Forum , the local authority is busy fast-tracking its investment drive to attract quality investors into the city.
“We are calling for investors who are into manufacturing to set up factories here. This sector is labour intensive and as such it will create more openings and more possibilities for locals,” Muzila said.
As TNMC is located on the outskirts of the city, its +/-700 employees resided in Francistown and commuted to their workplace daily.
Muzila said the mines provided a high-income bracket, which elevated their buying power and boosted the economy of the city. She stated that the closure is already impacting on the city’s economy negatively as Francistown had a vision of attracting investors through the mines.
“This dream shattered when the mines closed down. This challenges us to diversify and come up with better ways of saving the city’s economy,” Muzila said.
She said the city’s unemployment rate has increased since hundreds of people were laid off.
Muzila said the closure has had a huge negative impact on businesses and individuals who took advantage of the mines.
“The closure will impact negatively on people’s assets as they might put them for sale or rental hence forcing property markets to drop. This will also affect us as the council because we will be forced to reduce our rates,” Muzila said.
She added: “When the property market drops, it will surely affect the city’s economy”.
She said through their Francistown Investment Forum , the local authority is busy fast-tracking its investment drive to attract quality investors into the city.
“We are calling for investors who are into manufacturing to set up factories here. This sector is labour intensive and as such it will create more openings and more possibilities for locals,” Muzila said.
Botswana Diamonds Starts Drilling at Orapa Pipe
Botswana Diamonds said drilling commenced at one of its kimberlite pipes in the Orapa region of Botswana.
The drilling started at pipe AK 22, within license PL 260, which is part of a 50:50 joint venture between the company and Russian miner ALROSA.
Botswana Diamonds will make a further announcement “as soon as practicable” about the start of drilling at license PL 135 in the Gope region, which is also being explored in partnership with ALROSA
The drilling started at pipe AK 22, within license PL 260, which is part of a 50:50 joint venture between the company and Russian miner ALROSA.
Botswana Diamonds will make a further announcement “as soon as practicable” about the start of drilling at license PL 135 in the Gope region, which is also being explored in partnership with ALROSA
Kalahari Desert drilling starts, says Botswana Diamonds | 20 October 2016 | Stock Market Wire
"The Gope drill campaign is breaking new ground in one of the most remote deserts on Earth. There are no people, even water must be transported long distances and the sand is deep. Temperatures can differ by 50 Celsius between day and night.
"No mining companies have ventured here before to undertake drilling programmes. And yet the preliminary geochemical and geophysical indicators are strongly positive. We are at the cutting edge of diamond exploration and are cautiously optimistic of finding kimberlites."
"No mining companies have ventured here before to undertake drilling programmes. And yet the preliminary geochemical and geophysical indicators are strongly positive. We are at the cutting edge of diamond exploration and are cautiously optimistic of finding kimberlites."
Friday 23 September 2016
Metal Tiger plc UK Regulatory Announcement: Botswana T3 Resource Generation Update
Botswana T3 Resource Generation Update
Metal Tiger Plc
("Metal Tiger" or the "Company")
Botswana T3 Resource Generation Update
Contacts
Metal Tiger plc
Mount Burgess Mining NL to target additional zinc resources in Botswana - Proactiveinvestors (AU)
Mount Burgess Mining NL to target additional zinc resources in Botswana
Mount Burgess Mining NL (ASX:MTB) has commissioned an exploration drilling program across the Kihabe Zinc Project in Botswana near the Namibian Border.
The 1200 metres drilling program will focus on additional zinc anomalies within the vicinity of the Kihabe and Nxuu zinc/lead deposits.
The Kihabe and Nxuu deposits have a combined resource of 25 million tonnes grading 3% zinc equivalent.
The new program will primarily focus on Target 52, a geochemical soil anomaly identified 2 kilometres southeast of the Nxuu deposit.
Significantly, the geochemical results suggest a possible mineralised strike length of 5+ kilometres, which is more than double that of the combined strike lengths of the Kihabe and Nxuu deposits.
Mount Burgess’ Kihabe Zinc Project has mineralisation occurring from 5 metres to 175 metres below the surface and, as such, could potentially be mined by means of open pit mining methods.
Metallurgical test work has generated zinc recoveries of greater than 90% and zinc and lead concentrates of good marketable grade.
Importantly, zinc is the best performing base metal so far this year and measured from its six-year low struck mid-January, zinc price has increased 58% to $2,336 a tonne earlier this month.
The new drilling program is anticipated to commence in mid-October 2016.
Mount Burgess’ share price has doubled since the beginning of 2016, last trading at $0.01
The 1200 metres drilling program will focus on additional zinc anomalies within the vicinity of the Kihabe and Nxuu zinc/lead deposits.
The Kihabe and Nxuu deposits have a combined resource of 25 million tonnes grading 3% zinc equivalent.
The new program will primarily focus on Target 52, a geochemical soil anomaly identified 2 kilometres southeast of the Nxuu deposit.
Significantly, the geochemical results suggest a possible mineralised strike length of 5+ kilometres, which is more than double that of the combined strike lengths of the Kihabe and Nxuu deposits.
Mount Burgess’ Kihabe Zinc Project has mineralisation occurring from 5 metres to 175 metres below the surface and, as such, could potentially be mined by means of open pit mining methods.
Metallurgical test work has generated zinc recoveries of greater than 90% and zinc and lead concentrates of good marketable grade.
Importantly, zinc is the best performing base metal so far this year and measured from its six-year low struck mid-January, zinc price has increased 58% to $2,336 a tonne earlier this month.
The new drilling program is anticipated to commence in mid-October 2016.
Mount Burgess’ share price has doubled since the beginning of 2016, last trading at $0.01
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