african minerals up another 8% on heavy volume, page-6

Thanks APE, however I donot think there are so many tricks behind the SP. no need to do that.


Tokyo just mentioned TS figured out long time ago there would be world class iron ore in SL.

Buying CUO asset is another positive movement.

Marampa project:

I start to understand why it is valued at US$ 200+ million before any reliable exploration results come up. At this price level, AMI should estimate the iron ore in place is more than 2.0 billion tonne. AMI also estimates its Tonkolili Iron Ore Project "Conceptually, potential for in excess of two billion tonnes of contained iron ore ",but now it has potential to exceed 10 billion tonne. If this happens to Marampa project, namely AMI undervalued it as Tonkolili project, we can expect there should be more than 5.0 billion tonne iron ore in Marampa too.

Lady annie project:

TS mentioned early, "chinese investors want copper asset," plus recently, he made exploration plan instead of restarting the production, so I believe ST has a strong intention to upgrade the copper reserve in Lady Annie, then sell it to chinese.

"in September 2004 and in the following three years has increased the Mineral Resource by around 300%" --- so it is very possible that the new exploration will increase another 100000--200000 tonne contained copper.

Donot forget only the Mining facilities plus The Lady Annie treatment plant worth A$ 30 million--50 million,which can save the buyer lots of money.---so once copper price bounce back to US$2.5- 3.0/b, it's very easy to find a buyer.

Imagine if 1 million tonne contained copper in place; Mining facilities plus The Lady Annie treatment plant ready to produce 30000t copper /year; copper price at US 3.0/b; (All these three points actually can be true in the near future) how much it worth???

cheers!