15th Minesite Mining Forum Tuesday April 6, 2003 Bishopsgate and Chancery Rooms Great Eastern Hotel Liverpool Street London EC2M 7QN Times of Seminar: 09:30hrs-Lunch. Registration will commence at 09:00 and the forum will start at 09:30
The companies due to present at this Forum are: -------------------------------------------------- Oriel Resources From the minute AIM listed Oriel Resources announced a few days ago that it had raised £190 million through Canaccord Capital when it was only looking for £25 million at the time of its IPO, there was no doubt that it had to present at the next Forum. Unfortunately Sergey Kurzin, Oriel’s executive chairman is going to be away on business, but Stephen Dattels, also a director, is no mean substitute. The company has an advanced stage nickel project in Kazakhstan and a gold prospect in Russia and Mr Kurzin has an excellent record for assembling profitable deals in Russia for Bema Gold so a flow of deals can be expected from Oriel. Portman Mining Australian iron ore producer Portman Mining has been listed for some time on AIM and has performed well since Barry Eldridge took over as managing director at the end of 2002. It has just announced net profits after tax of A$16.9 million for last year on a 12.8 % increase in sales. The problems of the northern tenements at the Koolyanobbing iron ore project have now been sorted out and output will increase further this year. About 75 per cent of production goes to China from both Koolyanobbing and Cockatoo Island and the benefit of the 18.6 % rise in the iron ore price will be felt this year as demand for high grade ore continues to increase. -------------------------------------------------- African Diamonds has attracted a lot of attention since listing on AIM last year. The company has had some success with its drilling programme for alluvial diamonds from the De Beers Orapa mine at its Serowe project in Botswana. The company also has three licences in Sierra Leone , one of which contains Pipe 3 as well as some associated kimberlitic dyke swarms. The second licence is just to the north and east and contains several known kimberlitic dyke zones, and the third lies to the south and west. Production should start from Pipe 3 shortly. It may be small, but it is close to Pipes 1 and 2 owned by Diamondworks which is producing some large stones.
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Tournigan Gold is currently listed on Toronto’s Venture Exchange , but chief executive Damien Reynolds is working on an AIM listing as its assets are in Ireland and the Slovak Republic. At the end of 2002 Tournigan did a deal with Strongbow Resources to acquire up to a 75 per cent interest in the Curraghinalt and Tyrone gold projects in County Tyrone, Northern Ireland, and this has since been increased to 100 per cent. . Drilling and underground development by previous owners resulted in the definition of a resource of 470,000 tonnes at an average grade of 17.3 g/t containing approximately 250,000 ounces of gold, but some great drilling results, announced recently, confirm further potential . Early production is envisaged and the Kemnica project in Slovakia is also advancing fast with a scoping study imminent. Übersetzung Altavista: Tournigan Gold wird z.Z. auf Toronto?s Wagnis-Austausch verzeichnet, aber Hauptgeschäftsführer Damien Reynolds arbeitet auf einer ZIEL-Auflistung, während seine Werte in Irland und in der slowakischen Republik sind. Am Ende von Tournigan 2002 tat ein Abkommen mit Strongbow Betriebsmitteln, um bis zu einem 75-Prozent-Interesse am Curraghinalt zu erwerben und Tyrone Goldprojekte in der Grafschaft Tyrone, Nordirland und dieses ist seit dem auf 100 Prozente erhöht worden. Die Bohrung und die unterirdische Entwicklung durch vorhergehende Inhaber ergaben die Definition eines Hilfsmittels von 470.000 Tonnen an einem durchschnittlichen Grad von 17.3 g/t, die ungefähr 250.000 Unzen Gold enthalten, aber einige große bohrenresultate, vor kurzem verkündet, bestätigen weiteres Potential. Frühe Produktion wird beabsichtigt und das Kemnica Projekt in Slowakei rückt auch schnell mit einer unmittelbar drohenden Scopingstudie vor
-------------------------------------------------- GMA Resources (Gold Mines of Algeria) was going to present at our last Forum until Colin Ikin discovered that it clashed with a visit by fund managers and analysts to the Tirel/Amesmessa gold project which is near the border with Mali. Some may have thought it a pity he did not stick to the Forum as there were some cases of food poisoning on that trip. Even so the visitors were impressed with the potential of these two deposits where AIM listed GMA intends to ratchet production up from the current 24,000 ozs/year to 150,000 ozs at a cash cost of US$140/oz. It is a joint venture with the Algerian government and the current resource is 4 million ozs of which 920,00 is in the mineable reserve category with plenty of potential for further expansion through exploration. -------------------------------------------------- Golden Star Resources Last, but by no means least is Golden Star Resources led by Peter Bradford. This company has built an enviable reputation for efficient management in Ghana where it owns a 90 per cent interest in the Bogoso/Prestea open pit mine which produced 175,000 ozs gold in 2003. It also owns a 60 per cent interest in the Prestea underground mine which is currently inactive and 90 per cent of the Wassa gold project which will be remembered by shareholders in the Irish company Glencar Mining as a project too far for the company. Golden Star carried out a feasibility study last year and construction of new plant commenced immediately thereafter. First gold is expected in early 2004 with targeted production of 70,000 ounces in 2004 increasing to in excess of 140,000 ounces from 2005 when the mine is at full production. -------------------------------------------------- There will be a coffee break in the middle of the morning and the seminar will close with a buffet lunch. The Bishopsgate and Chancery Rooms will remain open in the afternoon and potential investors will have an opportunity to discuss the companies one-on-one with management.. Please register below. A full program will be sent to all registees in advance of the meeting. NOTE: Unless you hear otherwise your submission of this form can be taken as acceptance to attend. |