Jump to content

Conrad's Congo Club / Mining stocks in the DRC


Recommended Posts

Affinor Resources Inc.: Acquisition of 10,204 Mining Squares in the Democratic Republic of Congo

 

LAVAL, QUEBEC, Jul 25, 2007 (MARKET WIRE via COMTEX News Network) --

 

Affinor Resources Inc (TSX VENTURE: AFI) ("Affinor", the "Company") announces it has acquired 100% of the rights of Ressources Minieres du Congo SPRL ("REMCO"), a commercial entity as per congolese laws, in 24 Exploration Permits. These 24 permits total 10,204 Mining squares or a surface of approximately 8,888 Km2 (approx: 900,000 Hectares). In order for Affinor to gain a 100% interest in the Permits, the terms of the agreement call for a cash payment of 500,000 USD and the issuance of 3,000,000 treasury shares over a period up to 6 months after approval of the transaction.

 

The concessions are located in the Oriental Kasai and Oriental provinces of the Democratic Republic of Congo ("DRC") and are, according to James Napier, geologist and qualified person as per Rule 43-101 "favourable zones for the eventual discoveries of potentially rich kimberlite deposits since they are located in the Congolese craton and have revealing kimberlite showings ".

 

The PENGE EAST permit (400 "mining squares"), is located in Oriental Kasai, Kabinda District, and covers a surface of approximately 348 km2. This permit is contiguous to the permits of BRC Diamonds Inc (BRC - TSX.V), which announced on July 5th 2007 its merger with Diamond Core Resources Limited (DMR - JSE). The permit is also close to the Southern Era (TSX-SDM) and Miniere de Bakwanga (MIBA) permits.

 

The KATAKO-KOMBE permits (5,600 "mining squares") are also located in Oriental Kasai in the Sankuru District, and total an approximate surface of 4,878km2. James Napier also notes in his report: "The selection of the Katako-Kombe permits is based on the abundance of alluvial artisanal diamonds in the Lukenie, Lomela and Tshuapa rivers that take their source in the arked Unia Lake. The latter represents for us explorers, a kimberlitic or lamproitic field of potential primary deposits".

 

Up North, in the Oriental Province, Lower Uele District, are located the AKETI permits (4,204 "mining squares") of an approximate surface of 3,662 km2.

 

"The selection of the Aketi permits in the Oriental province is based on the abundant placer diamond showings that have never been industrially mined in the Aketi River to the South, the Tele River at the center and the Rubi River to the North. The Likati River holds a diamond showing on the "Mineral Deposit" map and flows very near our concession. All the rivers cross our permits from East to West. Geologically, we are on the edge of the Congolese Craton where formations are migmatic granites from the Ganguen Kibalian corresponding to the Katangeze Kibarian more or less 1300 Ma.A that meets with the Katanguian corresponding Lindian (Roan and Kundelungu) more or less 900 Ma, all of which crossed by faults that may contain ultrabasic kimberlitic rocks or lamproitic (dykes and pipes). We have two potential for kimberlitic fields in this area:

 

- to the north of the town of Bima between the Rivers Api et Uele;

 

- to the North West of the town of Mangi.

 

There are also several gold showings in the "Mineral Deposits" map therefore it is possible that we may find an auriferous and primary deposit". Quoting Napier's report.

 

As described in Bardet's chapter on Congo about the Aketi area: " For the time being, their origin is mysterious (and we will encounter this problem anew in Oubangui, C.A.R in some areas quite close in the north such as N'Zako). Undoubtedly, Aketi is very close to Congo's recovery basin, from which we can presume the hard rock to the south of the basin which could have extended more to the north in the past ?".

 

"This new acquisition is positioning Affinor as one of the important concession's holders in DRC in terms of surface owned and for the quality of the areas chosen".

 

The first phase will consist in a general survey of the targeted zones by direct and indirect methods of research (in situ localization, large circuit samplings, lifts, grabs, manual pits, trenches, probes, geophysical methods: to be defined depending on the means). The second phase will be devoted to a detailed reconnaissance and will have to be defined once the results of the preceding phase are known.

 

This transaction is concluded without intermediary and is subject to regulatory approval.

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information presented in this release.

 

Contacts: Ressources Affinor Inc. Daniel Barrette President 450-622-6626 or 450-622-8292

 

SOURCE: Affinor Resources Inc.

Link to comment
Share on other sites

  • Replies 738
  • Created
  • Last Reply

Fortin was the guy quoted opposing CAMEC's bid for Katanga last week. No doubt Dan Gertler will be desperately trying to keep him in position. The Mining Journal piece today prompted me to do some research on Gertler. Just google 'dan gertler corruption' or 'dan gertler arrest' - makes Billy seem almost saintly.

 

Makes a nonsense of the idea that Billy was booted out because the DRC wanted to clean up his act. Gertler is clearly desperate to block CAMEC's acquisition of Katanga so that he or Nikanor can get there hands on it instead. I guess Billy is the only angle they've got to try to disrupt things.

 

CAMEC and Katanga shares were up on the deal announcement and are now both down following the RP Capital statement and the Billy episode. Investors are losing money because of Gertler's activities and no one seems to be asking who he is or what he is up to.

Link to comment
Share on other sites

Elemental Minerals:

 

QUARTERLY ACTIVITY REPORT

FOR THE PERIOD ENDED 30 JUNE 2007

 

HIGHLIGHTS

 

Shinko West Project

 

• Entered into agreement to earn a 70% interest in Shinko West Project.

• Project located in the Katanga copper belt in the DRC, known for its numerous high grade

copper and cobalt deposits.

• Project prospective for copper, cobalt, uranium, nickel, PGMs and gold.

• Project area untested by modern exploration techniques.

• Initial soil sampling programme completed. NITON analysis of soil samples has delineated

coincident Cu / Ni anomaly measuring 1,400m by up to 500m.

• Aircore drill programme to commence in early 3rd quarter.

 

Kasai Gold Project

• Highly encouraging results from chip channel sampling at Musefu Gold project, with five

samples returning values ranging from 3.61g/t Au to 95.91g/t Au.

• Soil geochemistry defined a 2,000m by 400m to 800m wide Au anomaly.

 

http://www.asx.com.au/asx/statistics/showA...?idsID=00744639

 

Lindian Resources:

 

"EXPLORATION ACTIVITIES

Tshikapa Diamond Project (LIN earning 80%)

The Tshikapa Diamond Project is located in the Tshikapa diamond field, in the West

Kasai region of the DRC. The field is about 600 km east-southeast of Kinshasa, the

capital of DRC. The Tshikapa Diamond Project consists of four licence areas covering

about 800 sq km in the Tshikapa Diamond Field.

.............

The concentrate examined by Diatech demonstrated the presence of minerals which

potentially originated from a kimberlitic source. Five samples of the 68 taken

demonstrated elevated ilmenite and spinel counts with some of these grains classified as

B Type spinel or A Type ilmenites. Selected grains from these samples were dispatched

for microprobe analysis to determine whether their composition matched that of a

potentially economic kimberlitic source rock. It was determined that these samples did

not originate from such a kimberlite source.

The Company is presently reviewing the potential for further exploration activity in

respect of this project."

 

http://www.asx.com.au/asx/statistics/showA...?idsID=00744268

 

The Company is presently in advanced negotiations in respect of two projects;

 

- a coastal Iron project in West Africa and

- a Gold/Diamond project in the north east of the

 

Democratic Republic of Congo.

Negotiations in respect of both projects are expected to be finalized during the 3rd quarter

of 2007. Any agreements entered into will be subject to a detailed due diligence review.

CORPORATE ACTIVITIES

Link to comment
Share on other sites

El Nino Ventures to commence airborne geophysics, followed by initial drill program in the Democratic Republic of Congo (DRC)

 

Thursday August 2, 8:00 am ET

 

http://biz.yahoo.com/cnw/070802/el_nino_agreenment.html?.v=1

 

VANCOUVER, Aug. 2 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce that it has entered into an agreement with Aeroquest International Limited, to fly airborne geophysics over its properties in the Democratic Republic of Congo (DRC). This program will commence in early August.

 

Jean Luc Roy, President of El Nino states, "I'm looking forward to working with a proven and reliable company such as Aeroquest on our DRC project. This survey will be used to confirm our known mineralized copper zones identified earlier using remote sensing. We are also ramping up our field teams to ensure that we can commence our first drill program scheduled for September and October 2007. When we set out on this project, our corporate objective was to fast track our exploration efforts in the DRC; El Nino Ventures is on schedule to achieve this objective."

 

Aeroquest is a mining and energy services company, providing commercial airborne geophysical surveys for use in mineral and oil and gas exploration.

 

The AeroTEM System is an innovative airborne electromagnetic and magnetic platform designed for mineral exploration to depths of 400 meters and more. Introduced in 1999, AeroTEM has flown tens of thousands of line-kilometers, and has been credited with a number of discoveries.

 

About El Nino Ventures

 

El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has recently acquired over 350 square kilometers in a world renowned copper belt in the Democratic Republic of Congo and is currently in the midst of a 25,000 meter drill program in the Bathurst Mining Camp.

 

On August 1, 2007 El Nino Ventures Inc. moved from Tier II to Tier I.

 

 

On Behalf of the Board of Directors

 

(signed)

 

Jean Luc Roy, President and COO

 

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release. CUSIP

No. 28335E-10-6

 

 

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission. This email should not be construed as an offer to buy or sell securities of this company.

For further information

 

Tel: (604) 685-1870, Toll Free: 1-800-667-1870, Fax: (604) 685-8045, Email: info@elNinoventures.com, Or visit www.elNinoventures.com

Link to comment
Share on other sites

Moto Goldmines Limited: Issue of June 30, 2007 Interim Quarter Financial Statements and Management Discussion and Analysis

 

PERTH, WESTERN AUSTRALIA, Aug 09, 2007 (MARKET WIRE via COMTEX News Network) --

 

Moto Goldmines Limited ("Moto") (TSX: MGL)(AIM: MOE) has today issued consolidated financial statements and management's discussion and analysis for the interim quarter ended June 30, 2007. The Management's Discussion and Analysis, and the Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows are included below.

 

Complete copies of these documents are available on the Company's website www.motogoldmines.com.

Link to comment
Share on other sites

Todays Gee Ten Ventures (TSX: GTV) announcement offers a interesting connection betwen La Quinta Resources, Gee Ten Ventures and EL Nino Ventures on management - level.

 

LAVAL, QUEBEC -- 08/20/07 -- Gee-Ten Ventures Inc. ("Gee-Ten" or the "Company") (TSX VENTURE: GTV) announced today the appointment of Mr. Malcolm J.A. Swallow, B.Sc.(Hons) Mining Engineering, FIMMM, P.Eng. to its board of directors as well as the resignation of Mr. Francois Seglesk

Mr. Swallow is currently the Chairman, Chief Executive Officer and Director of La Quinta Resources Inc (TSX VENTURE: LAQ)

http://www.earthtimes.org/articles/show/ne...se,162736.shtml

 

J.L. Roy from ELN is advisor for LAQ

http://www.laquintaresources.com/advisors_...ied_persons.php

 

 

The 3 companies now have a wide spectrum: Gold, Coltan, Copper, Cobalt and Diamonds

Link to comment
Share on other sites

Metorex was, however, comfortable with the political situation in the DRC, which it believed to be stable, and also comfortable with the mining code, which it believed to be mature

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

DRC GOVT 'SHORTSIGHTED' IF IT STOPS CONCENTRATE EXPORT, SAYS METOREX CEO

 

By: Martin Creamer Published: 23 Aug 07 - 15:26

 

The Democratic Republic of Congo (DRC) government would be "shortsighted" if it disallowed the export of concentrate while it had insufficient smelter capacity, Metorex CEO Charles Needham said on Thursday.

 

Needham said that Metorex currently had a dispensation to move its concentrates through to Zambia.

 

"Going forward, we would like to run the concentrator plant when Ruashi Two comes on stream, because it amounts to an incremental 10 000 t of copper a year," he said.

 

But to be able to do that, the company would have to obtain further dispensation.

 

"Until the DRC is equipped with sufficient smelter capacity, I think that the government would be shortsighted not to continue to permit the export of that concentrate for the reasons of royalties, taxes, employment, etc," Needham said.

 

"We believe that with some careful discussion with the governor and the government, we will get this dispensation," he said.

 

Although the border had been closed for a while, it had reopened and Metorex material was permitted to flow from the DRC to Zambia.

 

"There are a few more regulations that have been introduced and there are more costs relating to moving the material out, and it relates to sampling and getting sample certificates and gettiing assay certificates, on the material you are sending out," he said.

 

The export of raw ore from DRC had been outlawed.

 

"We are beneficiating. We are getting our material out. Hence the need and the urgency to get phase two on stream and to produce cathode in the country," he said.

 

He said that operating in the DRC had been a learning curve for Metorex.

 

What had become clear was that things tended to take longer than originally envisaged.

 

Soucing of materials, getting materials through the border, constructing and becoming operational took longer than envisaged and, in some instances, required more money.

Metorex was, however, comfortable with the political situation in the DRC, which it believed to be stable, and also comfortable with the mining code, which it believed to be mature.

 

Operationally, there were also certain skills upon which it drew as intensively as it possibly could.

 

http://www.miningweekly.co.za/article.php?a_id=115347

(Audio clip 2:14 on webpage)

Link to comment
Share on other sites

Korea to build railroad in Congo (Brazaville)

"Under the deal, the Congolese government will grant Korean firms exclusive rights to develop its gas and iron resources, as well as a tropical rain forest, for the next 30 years."

 

http://www.kois.go.kr/news/news/newsView.a...Day=&page=1

Link to comment
Share on other sites

Implats, Bindura to import Mozambique power

Dumisani Ndlela

Posted: Tue, 28 Aug 2007

[miningmx.com] -- ZIMBABWE’s beleaguered mining sector is negotiating with the country’s power utility to import power from Mozambique in an effort to stem losses from unreliable domestic power supplies.

 

Details of the power import deal emerged after recent concerns by the world’s second largest platinum producer, Impala Platinum (Implats), over the irregular power supply situation in Zimbabwe. Several other mining companies have complained of interrupted power supplies.

 

Implats CEO, David Brown, recently said his company was working on ensuring a steady power supply for its mines in Zimbabwe.

 

Information at hand indicates four intensive energy users in the mining sector – Zimbabwe Mining and Smelting Company (Zimasco), Bindura Nickel Corporation (BNC), Implats’ Zimbabwe Platinum Mines (Zimplats) and Mimosa – have already committed themselves to the deal under which they have signed up to receive a combined 220 KW from Mozambique’s Hidroeléctrica de Cahora Bassa (HCB) through direct feeder lines.

 

Implats owns 87% of Zimplats, and 50% of Mimosa, which it shares with Aquarius Platinum.

 

Zimasco Consolidated Enterprises (ZCE) of Mauritius owns Zimasco, the world’s fifth largest ferrochrome producer; AIM-listed Mwana Africa owns BNC.

 

The power imports will be made under current contractual agreements between the Zimbabwe Electricity Supply Authority (ZESA) and HCB. The mining operations will bear all costs related to the imports in foreign currency.

 

Chamber of Mines acting CEO, Douglas Verden, confirmed the chamber had structured the deal on behalf of miners, but said there was still “a bit of difficulty”.

 

“We’ve held several meetings with ZESA and we’re still discussing the way forward. We’ve taken the issue with the Reserve Bank, and we’re still waiting,” said Verden.

 

He said miners, who surrender 40% of their foreign currency earnings to the Reserve Bank of Zimbabwe (RBZ), wanted the deal to be structured in such a way that part of the payment for the power imports would come from the money taken by the RBZ. That’s because much of it goes towards power imports. But the RBZ had indicated that it could not afford to give up a portion of the 40% to the mines for the deal.

 

“The RBZ wants the mines to pay for it out of 60% they retain,” said Verden.

 

A senior ZESA official confirmed the arrangement with the four mining companies, saying the facility would be open to all mining companies in Zimbabwe, with HCB’s quantum of supply being the only limit to the number of participants.

 

Jack Murehwa, president of the Chamber of Mines and the Zimplats commercial director, confirmed the deal but declined to give details.

 

ZESA has undertaken to guarantee firm supplies to the ring-fenced mines under this facility, except for system faults and emergencies outside its control.................

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.


×
×
  • Create New...