As promised, here is the information I can share from my discussions with AIM. The following responses, were sent to me directly via email from their group geologist.
Perkoa
1. The current drilling program at Perkoa commenced during August this year, and the Company will release results at the conclusion of drilling activities and following receipt of geochemical assay results.
Mumbwa
2. The Phase 2 drilling program for Mumbwa will commence when the rig has mobilised to the site, and drilling begins.
Debt Financing
3. The Company is in discussion with various lenders for debt financing.
Zinc Prices
My Q. Zinc prices are predicted to fall, due a surplus of zinc next year. Have you considered a hedging program to lock in prices?
4. Yes.
Sales Agreements
5. Sales agreements for the remaining 2/3 of concentrate will be finalised shortly.
Production Perkoa
My Q. Why has the production date, pushed back to 2009? Originally it was predicted for 2008. My concern is AIM may miss the opportunity to grasp the current zinc price.
6. There is no delay. The Company will be extracting ore from Perkoa by the end of calendar year 2008, as previously announced. Initially the Company will be stockpiling of ore, and zinc concentrates will be exported during financial year 2008/09.
Recent share placement
Are you able to disclose who participated in the recent share placement for the equity funding?
7. With regards to participation of the recent offer I am not able to provide you with this information. If it is in fact available to the general public, you should be able to source it from a third party.
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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