china to invest in drc copper, page-3

I think it should be remembered that Anvil holds the maximum allowable leases in the DRC, under the mining convention. That includes Kalemie which is a gold, base metals region, an area that has previously been too unstable to do much exploration work in, but looks as though the exploration team has it back on their agenda (see exploration strategy on homepage)

They are spending US$12 million this year on exploration alone and had one of the most successful drilling programs last year. Discovery rates and discovery costs per meter drilled was amazing (see exploration presentations for details) 2006 saw an increase in total resources by 178%. And an increase in the resource base of 1600% since 2004.

They also own 29% of the Kolwezi Kipp which has been the richest copper producing area in the world.

A company the size of Anvil has committed itself to Kinsevere as the long-term company maker, and has put the money and resources behind that project, along with all the other projects and unexplored leases anvil has. (Lungeshi, Likasi, Itogon,(Philippines) etc)

Kapulo has been farmed out to Mawson West partially because Anvil has "bigger fish to fry" and they just can't do everything at once. As Bill previously said, we have some of the best addresses in the DRC. It just takes time, planning and resources to get to them all.

"First Mover" status is very important to capitalise on. If we were trying to get into the DRC now, a farm-in would be about it. The best ground has been snapped up. And fortunately we own a good lot of it.

The chinese moving into the DRC just confirms the DRC is back and open for business. All good for us and the people of the DRC.

Have a good day and a terrific weekend folks.

KKR