Jump to content

Conrad's Congo Club / Mining stocks in the DRC

vssmnn

Recommended Posts

  • Replies 738
  • Created
  • Last Reply
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

template_03.gif

 

Congo all-clear for ELM

 

http://www.theaustralian.com.au/business/m...x-1225810231699

 

Remember, we had held off writing about this for a week until it could be checked with the Perth company. The problem was that we hit brick walls trying to contact someone from Elemental, so this morning we put the question in print.

But chairman Mark Jones was on the phone nice and early this morning to sort out the situation.

The short answer from him is that there is no doubt that the Sintoukola ground is safely Elemental’s. It seems that a company called Congo Potash Co, owned by a French national, has put a map on its website which shows its ground includes the Sintoukola project.

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

logo.jpg

 

(fka Simberi Mining)

 

Greenock Resources: Approval of DRC Kakanda Copper Project and Amended Nevada Gold Property Acquisition Terms

 

Greenock Resources Inc. (TSX VENTURE:GKR)("Greenock") is pleased to announce that its copper/cobalt Kakanda project in the Democratic Republic of Congo has received approval by the Government. Greenock is continuing discussions with a number of potential investors in the Kakanda project.

 

http://www.tradingmarkets.com/.site/news/S...20News/2723257/

 

http://www.greenockresources.com/

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

EastBridge Investment Group Signs Joint Venture and Listing Agreement With a Congo Gold Mine Company

 

http://money.cnn.com/news/newsfeeds/articl...ire/0568510.htm

 

EastBridge Investment Group (EBIG) (OTCBB: EBIG) today announced that it has signed a Joint Venture and Listing agreement with a new client, Long Whole Enterprises, Ltd. ("Long Gold"). Long Gold's primary business is precious metals in Africa. EastBridge and Long Gold will jointly invest in the preliminary exploration work of the mine. EastBridge has also been retained to assist Long Gold to become listed on the NYSE-AMEX or Nasdaq as soon as practical.

 

Mr. Mikio Yoneda, CEO of Long Gold, in Tokyo, Japan, commented, "We have recently acquired a 60% ownership in a gold mine in the DRC, Democratic Republic of Congo. The preliminary engineering report for a small area in the mine estimates the gold reserve to be more than 200 tons. The mine has about 400 workers today using manual methods to wash sand and mud to recover gold. We want to raise capital to install advanced machinery to increase the gold quantity significantly."

 

Mr. Norm Klein, EBIG's COO/CFO, commented, "This is a very special opportunity for EBIG to enter this resource rich continent, Africa. In addition to the listing work, we have also obtained the right to participate in the preliminary survey and exploration work of the mining area. In return, EBIG will have a higher ownership stake than we normally get for listing a client on a United States stock exchange."

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

f462fc6a4f7d3a727b951cecf01af25b.jpg

 

Namakwa Acquires DRC Mining Company Which Recently Contracted to Acquire the Assets of Gem Diamonds Limited in the DRC

 

http://www.jewelryne.ws/2009/12/08/namakwa...ted-in-the-drc/

 

http://www.namakwadiamonds.co.za

 

the Company’s acquisition of KRM provides Namakwa Diamonds’ DRC operations with:

 

* title to earth moving equipment (“EME”), plant and machinery (including consumables, spares and infrastructure), estimated by an independent third party to be valued at US$12-15m for similar goods in the DRC;

* the opportunity to take DRC production levels beyond a re-stated target of 160,000 carats for 2010 on revised budgets, given the synergies provided by additional EME equipment and an increased resource base. This re-statement follows the Company’s announcement of a 2010 target of 90,000 carats for the DRC in October’s Preliminary Results Announcement;

* an increased inferred resource base of approximately 2,000,000 alluvial carats in close proximity to the Company’s current assets on the Kasai River in the Tshikapa region;

* the expertise of Dr. John Ward (ex-Gem Diamonds and De Beers) and Cameron Burn; and

* 41 alluvial and kimberlite concessions on the Mbelenge, Longatshimo and Lubembe rivers

 

 

Gem_Diamonds-DRC_project.jpg

 

Gem Diamonds Sells DRC Concessions

 

http://www.idexonline.com/portal_FullNews.asp?id=33322

 

Gem Diamonds is slowly walking away from its holdings in the Democratic Republic of Congo, announcing on Tuesday that it has completed the sale of its shares in two of its three companies in the country. The sale of the third company is expected to be completed in January 2010.

 

The diamond miner sold the holdings to Kasai Resource Mining Limited (KRM) for $ 3.8 million. The third company will be sold for $ 1.2 million.

 

Gem Diamonds did not disclose the name of the companies it is selling. It holds about 40 concessions in the Mbelenge, Lubembe and Longatshimo areas in the DRC.

 

Under the terms of the sale, and in line with its strategy of pursuing kimberlite opportunities, Gem Diamonds maintains a right to an initial 65 percent interest in any economic kimberlite that may be discovered on the concessions currently owned by these DRC companies.

 

In addition, Gem Diamonds will be entitled to a 3 percent royalty on the revenue from any diamonds extracted from any kimberlite discovery on these concessions.

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

Kilo Plans Drilling in Q1-2010 on the Somituri Project Including Resource Drilling Through Q2 to Q4-2010

http://in.sys-con.com/node/1228495

....The Company plans to commence diamond drilling in late Q1-2010 with the objective of defining a minimum resource of two million ounces of gold by year-end 2010.
Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

gold_chart_350_4b16b6197c4f9.jpg

 

Current gold stock valuations - where to from here?

 

 

http://www.proactiveinvestors.com.au/compa...here--3594.html

 

 

Over the past month or so, there has been some meaningful "swaps" among stocks involved in gold exploration and development. Some older favourites are back among the front runners, in the form of the likes of Gabriel, Timmins Gold, Mineral Deposits, Alamos (always one of the coolest no matter how hot it gets, what with mines and projects like Mulatos, Aği Daği & Kirazli ), Andean, European Gold, Kirkland Lake, and Novagold. Relatively fresh names in the new fangled gold rush include Loncor Resources, Tyhee, Kilo Goldmines, Kryso Resources and Vista Gold.
Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted
African Metals Corp.: African Metals Corporation Appoints New President And Chairman And Executes A Loan Agreement In Furtherance Of The Previously Announced Letter Of Intent To Acquire Chevalier Resources Inc

http://www.officialwire.com/main.php?actio...2&catid=590

 

found this because "Luisha"

 

imgadpt.jpg

 

http://docs.google.com/viewer?pid=bl&s...ber=2&w=800

 

 

translate: http://www.gecamines.cd/detailinfo.php?clef=16

 

 

L'acquisition de ces nouvelles machines permettra d'accroître sa capacité d'exploitation, d'assurer une large manoeuvre du trafic de ses produits miniers et surtout de diminuer la prestation des services externes.

Il est à noter que c'est à travers une entreprise minière chinoise oeuvrant à Luisha que cet accord de partenariat a été rendu possible.

 

Signalons que la Gécamines qui vient de récupérer quelques uns de ses sites et usines (FELCO, KZC et UZK à Kolwezi) et Kamfundwa, Shangolowe, Luisha et Katanda à Likasi, acheminera ces quatre locomotives à Likasi où elles tracteront les minerais et concentrés de tous les sites cités ci-haut vers Likasi pour leur traitement.
Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

New in Congo Club

 

logo.gif

 

http://www.mineralinvest.com/projects.asp

 

 

Press release

Stronger presence in DRC Congo

 

Mineral Invest International MII AB (publ) is strengthening its local organisation in DRC by having recruited an operations manager in charge of the growing activities in the country. In line with its vision to become a leading company within small scale mining and trading of minerals and metals, MII has after a thorough recruiting process employed Mr Joachim Rickle as the operations manager. Mr Rickle, a Swedish citizen born in 1959, has a wide experience from international businesses. Recently Mr Rickle was responsible for the South European operations at Telelogic/ IBM from the company’s Paris office.

 

"Having succeeded in attracting such a competent and multi cultural person as Mr Rickle to this position means that myself and our board can devote more energy and time to develop business opportunities in other countries and regions"

 

says Michael Nilsson, CEO

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

KGHM pulls out of Congo

29.12.2009 08:28

 

Poland’s copper mining giant KGHM has applied for voluntary liquidation of the its operations in the Democratic Republic of Congo, to commence on 1January 2010.

 

http://www.thenews.pl/business/artykul1227...t-of-congo.html

Link to comment
Share on other sites
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

Shinkolobwe "coming soon" with AREVA ?????

 

http://www.hns-info.net/spip.php?article20728

 

Google translation:

 

ASADHO / Katanga, which, in its report''Shinkolobwe uranium mine: an illegal artisanal mining agreement between DR Congo and the French nuclear group Areva had denounced''on page 23 artisanal mining illegal, even by children, mine Luswishi, finds abuse of authority in the hands of provincial authorities and business EGMF not respected or enforced legal procedures laid down in search and forced eviction, focusing on illegal interests, even illegitimate, a mining company (CMSK), that life and health of local communities, but miserable.
Link to comment
Share on other sites
  • 2 weeks later...
vssmnn Newbie

vssmnn

Posted
  • Author
Posted

Loncor Announces Financings

TORONTO, Jan. 11 /CNW/ - Loncor Resources Inc. (the "Company" or "Loncor") (TSX-V Symbol: "LN") announces that it has engaged GMP Securities L.P. to act as lead agent, together with a syndicate of agents including CI Capital Markets Inc. and. Salman Partners Inc. to sell on a "best efforts" basis, by way of private placement, up to 8,000,000 common shares of the Company at a price of Cdn$1.35 per share for gross proceeds to the Company of up to Cdn$10,800,000 (the "Brokered Placement"). The Company announces further that it is also negotiating with a strategic investor a non-brokered private placement of up to 3,000,000 common shares of the Company at a price of Cdn$1.35 per share for gross proceeds of up to Cdn$4,050,000 (the "Non-Brokered Placement").

 

The Company intends to use the net proceeds from both the Brokered Placement and the Non-Brokered Placement for the exploration of the Company's mineral properties in the Democratic Republic of the Congo (the "DRC") and for working capital and general corporate purposes.

 

The Company has agreed to pay to the agents for the Brokered Placement, in aggregate, a cash fee equal to 6% of the gross proceeds of the Brokered Placement and to grant to such agents, in aggregate, that number of compensation options which is equal to 6% of the number of shares sold under the Brokered Placement, with each such compensation option entitling the holder to purchase one common share of the Company at a price of Cdn$1.45 for a period of two years from closing.

 

The closing of both the Brokered Placement and the Non-Brokered Placement is subject to the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

 

Loncor is a gold and platinum exploration company which has three projects in the DRC: the North Kivu, Ngayu and Bas Congo projects.

 

The North Kivu project covers an area of approximately 18,000 square kilometres in the North Kivu Province of eastern DRC. The Belgian company Miniere des Grande Lac ("MGL") mined alluvial gold and platinum on Loncor's North Kivu project areas between the 1920s and 1960s. In the Manguredjipa area alone, over 300,000 ounces of alluvial gold and platinum were extracted. MGL's alluvial operations eventually led to the discovery of numerous primary high-grade quartz veins, stockworks and disseminated gold deposits. Loncor has established an office in the city of Butembo which is situated in the eastern part of the project area. Based on the historical exploration data, Loncor has delineated a number of gold and platinum prospects at the North Kivu project which are the focus of Loncor's exploration. At the Manguredjipa gold prospect, Loncor has established an exploration camp and is conducting fieldwork. A recent site visit and preliminary sampling at Manguredjipa have confirmed the potential for an anomalous gold zone three kilometres in length at the site of artisanal mining. A further nine gold prospects have also been outlined at the North Kivu project from the historical data and will also be investigated. A number of alluvial platinum occurrences will also be followed up to determine the primary source of the mineralisation.

 

The Ngayu project of approximately 5,400 square kilometres is found within the Orientale Province of northeast DRC and 270 kilometres northeast of Kisangani. The project covers most of the Ngayu Archaean greenstone belt. A number of gold occurrences are found within the Ngayu greenstone belt, the two most significant described in the literature being Yindi and Adumbi. The Yindi gold occurrence occurs within permit areas where Loncor has the gold rights. Historical records report a gold resource at Yindi of 518,000 ounces of gold (7.0 million tonnes grading 2.3 grams per tonne) (the "Historical Estimate"). Loncor will be establishing a field exploration camp this year and conducting exploration at Yindi and other gold prospects within the Ngayu belt. The Historical Estimate is based on historical reports up to 1988 from the Royal Museum for Central Africa Tervuren, Belgium, is historic in nature and is presented for information purposes only. The Historical Estimate is based on an extrapolation of known, unexploited mineralization near surface down to a maximum depth of 100 metres. The detailed methodology used to derive the Historical Estimate is not known to the Company. The Historical Estimate is not compliant with National Instrument 43-101 and is not to be relied upon. Work required to verify and classify the Historical Estimate as current mineral resources in accordance with National Instrument 43-101 has not been carried out by the Company and the Company is not treating the Historical Estimate as current mineral resources as defined in National Instrument 43-101. The Company does not make any representations or warranties on the accuracy of the Historical Estimate. Any future mineral resource estimate for Yindi may be materially different than the Historical Estimate.

Link to comment
Share on other sites

Archived

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

Go to topic listing
×
×
  • Create New...