conference call for year end results

Very interesting conference call. Highlights include:

Review of current operations. Really quite spectacular results.

$US16 million exploration budget for 2008. Around half will be targeting around the Kolwezi area. US$4.7 million for Kinsevere and US$1.7 for Dikulushi. Couldn't hear the final figures.

25000m of drilling. At Kinsevere aiming at the sulphide base below the oxide zones 100-120m down to 250m.

Kinsevere Hill NW extension still establishing a resource estimate and will be releases in the next couple of months.

Q1 2008. Commission the EAF at Kinsevere.

Q2 2008. New estimate of resources at Kinsevere Hill oxides.
Release a long term plan for an expandable 15000 tonne SXEW plant at Kulu.
Hydroelectric power line at Kulu to be energised.
AGM May 12 and the release of Q1 financial results.

Q3 2008. Drilling results for Kinsevere sulphides and Mutoshi.

Q4 2008. New resource estimate at Mutoshi.
192 km road between Kilwa and Dikulushi to Lubumbashi and on to Kinsevere to be completed at a cost of US$10-$13 million.

Once the SXEW plant is switched on at Kinsevere, Bill suggested that the EAF plant could be modified to process the concentrate from Dikulushi to produce blister copper.

Craig Munro mentioned the company has around US$280 million in the bank and depending on what happens with the govt. review they could be looking at US$100 debt. What for? No mention.

Maybe to build the SXEW plant at Kulu &/or buy more of SBS?
Only guessing.

Overall a very good conference call.

All the best

KKR