patersons and fat prophets, page-13

In today's Paradigm Securities monthly report (aka. the old Martin Place Securities).

Company News:
Blackthorn – Mumbwa & Perkoa Update

The final stages of process plant commissioning are underway at Blackthorn Resources’ (ASX: BTR) Perkoa Mine in Burkina Faso, West Africa. Production ramp-up to nameplate capacity is progressing well with 42,168t milled in April. The Zn grade of 4.80% is in line with expectations and approximately 12,000t of concentrate has been stockpiled. First concentrate shipments are expected to commence during 3Q13. The second ball mill is expected to be completed in 4Q13, enabling ramp-up to 1Mt throughput capacity.

BTR also announced the Musafwa and Kachindu prospecting licences in Zambia have been renewed for a further 2-year period with 100% retention of area. Positive exploration results meant a 50% reduction of area, which is typical in renewals, was not required. Exploration activity on the licences has included geochemical surveying and geological mapping that has identified multiple surface anomalies. The prospects are part of the 100%-owned Mumbwa Project and cover a combined area of 394.8km2. The greater Mumbwa Project includes five exploration licences and covers approximately 1,036.8km2.