re: Ann: Maiden Resource Drilling Commences a... Good...

re: Ann: Maiden Resource Drilling Commences a... Good announcement this morning.. They have really dived into the Mofe project now with full focus on getting it drilled out and putting a plan together for a low capital startup. I am impressed with their progress.

If they can confirm opex costs they are predicting (see previous announcements) this will be a very profitable mine and with the resource growing with the extensions and new finds, it is turning into a sizable project..

Considering the iron ore plays close to them including Arcelor Mittal Nimba/Buchanan and China Union’s Bong mine, I would not be surprised if there was some strong interest post a successful drilling campaign.

Summary of Announcement:
1) Resource drilling commenced at Gofolo Main target High-grade friable itabirite and potential DSO intersected (assays pending)
2) Access onto exciting Zaway target underway with highgrade mineralisation exposed in road cuttings
3) Positive meetings with Ministry of Lands, Mines and
Energy and Ministry of Transport recently undertaken
4) Meetings and site visits held with Vedanta/Sesa Goa;
initial discussions regarding collective development
and/or infrastructure sharing of long-term rail and/or
port infrastructure initiated
5) Weather station installed; baseline environmental
data acquisition and monitoring commenced
6) Discussions continue with engineering firms to assist
with development of a low capital start-up project


My opinions only and not investment advice