Ich will Euch diese Aktie nicht länger vorenthalten, denn ich glaube,
wenn im August mit dem Abbau begonnen wird, wird sie erst richtig gen Norden
abdüsen.
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ACN 060 478 962
MEDIA RELEASE 20 December 2001
DIKULUSHI PROJECT – DRC
PROJECT DEVELOPMENT UPDATE
The recent appointment of Mr Mike O’Sullivan as Project Manager – Congo has stepped up the pace of the pre-implementation work aimed at fast tracking the Dikulushi project into production by August 2002. Mike O’Sullivan is a seasoned mine development engineer who has considerable small mine development experience in the African environment.
Following a site visit in early November 2001, tender documents were issued to pre-qualified engineering companies. Tenders received on 14 December 2001 are inline with previously forecast development costs and a Letter of Award is expected to be issued to the successful engineering company before the 24 December 2001.
Pre-qualifying documents for the mining and concentrate cartage contracts are presently being received by Anvil. After evaluation, three contractors for each of the contracts will be issued with tender documents and will undertake a site visit in late January 2002. Pre-qualification documents so far received indicate a very competitive market for the mining and concentrate transport contracts and it is expected that these contracts will be awarded in mid-March 2002.
Strengthening and re-engineering of the barge to be used to supply materials to the Dikulushi mine site during construction and to transport the Dikulushi concentrate to Zambia is forecast to be completed in mid-January 2002. The first sections of the barge will then be dispatched to Nchelenge, the Zambian port on the east side of Lake Moero in the second week of January, with the completed barge expected to undergo lake trials in early April 2002.
Based on the tenders and pre-qualifying documents received to date, the cost of the plant, barge facility and infrastructure including contingency is estimated at US$4.1 million. Owner’s pre-production and working capital costs are estimated at US$1.7 million. The estimated total development cost for the project is therefore US$5.8 million.
The first stage of development of the Dikulushi deposit comprises of an open pit mine and Heavy Media Separation plant, which will treat ore at a rate of 250,000 tonnes per annum and produce 40,000 tonnes of concentrate per year grading approximately 40% copper and 1,230 g/t silver. The concentrate will be shipped either to an existing smelter on the Zambian Copperbelt or a smelter in Asia where it will be toll treated to produce LME A grade copper cathode. The forecast operating cost for copper cathode production is US 36 cents per pound, after silver credits, placing Dikulushi well within the lower quartile of the World copper production cost curve.
Subsequent expansion, with the addition of a ball mill and flotation circuits would be funded out of project cash flows and would produce a concentrate grading 60% copper and 1,935 g/t silver, and this is expected to reduce operating costs even further.
Work is continuing on the finalisation of the documentation for the RMB Resources Ltd (“RMB Resources”) Project Financing Facility of US$4.5 million, and this is expected to be signed off by mid-January 2002. The Company is currently working through the remaining conditions precedent.
The Dikulushi deposit has a Measured, Indicated and Inferred Resource of 1.94 million tonnes at an average grade of 8.58% copper and 266 g/t silver, 85% of which is in the Measured and Indicated categories reflecting the adequacy of the drilling carried out by Anvil in the latter half of 1997. Dikulushi is open at depth with one of the deepest drill intersections (DIK 30) intersecting 16.7 metres of 16% copper and 522 g/t silver at a vertical depth of 165 metres.
Political developments in the DRC have continued to improve during the year as evidenced by the increasing level of engagement by multilateral institutions (United Nations, World Bank and IMF) and foreign governments. The World Bank provided a grant of US$50 million to the DRC at the end of November 2001 and the newly appointed World Bank representative moved to Kinshasa on 9 December 2001. These are significant developments particularly for the World Bank which has been absent from the DRC for a period of more than 10 years.
Executive Director Bill Turner commented, “We are very pleased with both the political developments in the DRC and the progress we have made with the pre-implementation work on the Dikulushi project. The finalization of the RMB Resources funding documentation this coming January will clear the way for Dikulushi to be in production by August 2002”.
Finally, the placement of 14 million shares at 5.5 cents, announced on 28 November 2001 has been completed with net proceeds of $769,092.
For further information, please contact:
Bill Turner,
Executive Director
Tel: +61-89-384 4545 or +61-(0)41-1188018
Email: billt@anvil.com.au (Perth) and anvilminingwst@aol.com (travel)
Web site: www.anvil.com.au
Website constructed and maintained by Anvil Mining NL
Last modified December 21, 2001
Copyright © Anvil Mining, 1999
Und hier gibts noch mehr Informationen:
www.anvil.com.au
Good Trades. N.P.
wenn im August mit dem Abbau begonnen wird, wird sie erst richtig gen Norden
abdüsen.
ACN 060 478 962
MEDIA RELEASE 20 December 2001
DIKULUSHI PROJECT – DRC
PROJECT DEVELOPMENT UPDATE
The recent appointment of Mr Mike O’Sullivan as Project Manager – Congo has stepped up the pace of the pre-implementation work aimed at fast tracking the Dikulushi project into production by August 2002. Mike O’Sullivan is a seasoned mine development engineer who has considerable small mine development experience in the African environment.
Following a site visit in early November 2001, tender documents were issued to pre-qualified engineering companies. Tenders received on 14 December 2001 are inline with previously forecast development costs and a Letter of Award is expected to be issued to the successful engineering company before the 24 December 2001.
Pre-qualifying documents for the mining and concentrate cartage contracts are presently being received by Anvil. After evaluation, three contractors for each of the contracts will be issued with tender documents and will undertake a site visit in late January 2002. Pre-qualification documents so far received indicate a very competitive market for the mining and concentrate transport contracts and it is expected that these contracts will be awarded in mid-March 2002.
Strengthening and re-engineering of the barge to be used to supply materials to the Dikulushi mine site during construction and to transport the Dikulushi concentrate to Zambia is forecast to be completed in mid-January 2002. The first sections of the barge will then be dispatched to Nchelenge, the Zambian port on the east side of Lake Moero in the second week of January, with the completed barge expected to undergo lake trials in early April 2002.
Based on the tenders and pre-qualifying documents received to date, the cost of the plant, barge facility and infrastructure including contingency is estimated at US$4.1 million. Owner’s pre-production and working capital costs are estimated at US$1.7 million. The estimated total development cost for the project is therefore US$5.8 million.
The first stage of development of the Dikulushi deposit comprises of an open pit mine and Heavy Media Separation plant, which will treat ore at a rate of 250,000 tonnes per annum and produce 40,000 tonnes of concentrate per year grading approximately 40% copper and 1,230 g/t silver. The concentrate will be shipped either to an existing smelter on the Zambian Copperbelt or a smelter in Asia where it will be toll treated to produce LME A grade copper cathode. The forecast operating cost for copper cathode production is US 36 cents per pound, after silver credits, placing Dikulushi well within the lower quartile of the World copper production cost curve.
Subsequent expansion, with the addition of a ball mill and flotation circuits would be funded out of project cash flows and would produce a concentrate grading 60% copper and 1,935 g/t silver, and this is expected to reduce operating costs even further.
Work is continuing on the finalisation of the documentation for the RMB Resources Ltd (“RMB Resources”) Project Financing Facility of US$4.5 million, and this is expected to be signed off by mid-January 2002. The Company is currently working through the remaining conditions precedent.
The Dikulushi deposit has a Measured, Indicated and Inferred Resource of 1.94 million tonnes at an average grade of 8.58% copper and 266 g/t silver, 85% of which is in the Measured and Indicated categories reflecting the adequacy of the drilling carried out by Anvil in the latter half of 1997. Dikulushi is open at depth with one of the deepest drill intersections (DIK 30) intersecting 16.7 metres of 16% copper and 522 g/t silver at a vertical depth of 165 metres.
Political developments in the DRC have continued to improve during the year as evidenced by the increasing level of engagement by multilateral institutions (United Nations, World Bank and IMF) and foreign governments. The World Bank provided a grant of US$50 million to the DRC at the end of November 2001 and the newly appointed World Bank representative moved to Kinshasa on 9 December 2001. These are significant developments particularly for the World Bank which has been absent from the DRC for a period of more than 10 years.
Executive Director Bill Turner commented, “We are very pleased with both the political developments in the DRC and the progress we have made with the pre-implementation work on the Dikulushi project. The finalization of the RMB Resources funding documentation this coming January will clear the way for Dikulushi to be in production by August 2002”.
Finally, the placement of 14 million shares at 5.5 cents, announced on 28 November 2001 has been completed with net proceeds of $769,092.
For further information, please contact:
Bill Turner,
Executive Director
Tel: +61-89-384 4545 or +61-(0)41-1188018
Email: billt@anvil.com.au (Perth) and anvilminingwst@aol.com (travel)
Web site: www.anvil.com.au
Website constructed and maintained by Anvil Mining NL
Last modified December 21, 2001
Copyright © Anvil Mining, 1999
Und hier gibts noch mehr Informationen:
www.anvil.com.au
Good Trades. N.P.
