SBL 0.00% 0.1¢ signature metals limited

From the mwana reporting....says they have have spent 7 million...

  1. 337 Posts.
    From the mwana reporting....says they have have spent 7 million on exploring the project....

    http://www.mwanaafrica.com/ir/files/results/Unaudited_results_30sep08.pdf

    Exploration Review
    Good progress was made in the period with the Group’s extensive base metal, gold and diamond
    exploration programmes. However, following recent changes in economic conditions, it was announced on
    22nd October 2008 that these programmes would be scaled back significantly, while ensuring that
    conditions to retain exploration rights are satisfied, until the funding environment and the outlook for
    commodity prices have stabilised. Following BHP Billiton's withdrawal from the SouthernEra agreement
    and proposed termination of the Gravity agreement, as announced on 2nd December 2008, all options
    including the closure of all kimberlite diamond exploration in the DRC, are being considered by Mwana.
    In the period, the Company invested £7.0m (2007: £3.3m) in Mwana’s extensive exploration portfolio
    including gold, base metals and diamond prospects in the DRC, Ghana and South Africa. Further
    exploration was funded by BHP Billiton, Anglo American and others through joint venture agreements.
 
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