In excess of 300,000 cubic metres of overburden will be excavated and hauled in order to reach the hard rock where the portal to access the underground mine will be situated. Work has already passed the half way stage, and it is expected that the mine portal will be opened within the next month.
*Finalising of the offtake
NEGOTIATIONS ON OFFTAKE The company is finalizing its discussions with the Bollore Group on its logistics requirements. The Bollore subsidiary SDV owns the Sita railway line which passes 30 kilometres from the Perkoa mine site down to Abidjan in Cote d'Ivoire. Once this agreement is finalized, AIM will convert its current letter of intent with both Louis Dreyfus Commodities and the Votorantim Group into sales agreements. It is anticipated that this will take place within the next quarter.
The drilling program at Aim Resources Mumbwa IOCG properties in Zambia was completed on 22 February and final assay results and QA/QC are expected in May. The company is currently reviewing preliminary results in conjunction with its joint venture partner BHP Billiton and expects to be reporting on them imminently..
*Potential board appointments
CORPORATE AIM has interviewed a number of potential chairmen who have extensive experience in the mining industry, to help take the company to its next important stage production. It is anticipated that this position will be filled in the early part of the next quarter.
Further, it is the intention of the Board to bring on another Board Member who has had underground production experience. It is most likely that this position will be filled by someone with a mining engineering qualification.
d.
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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