conference call, page-5

Interesting extracts

"Anvil will be undertaking a feasibility study for building a small SX-EW plant at the KuluMine instead of an EAF as
previously announced. The Company believes that construction of a small, expandable SX-EW plant, with an initial capacity of 15,000 tonnes per year is the best option for processing the coarse rejects/tailings and optimizing the value of the deposit. Management anticipates that metallurgical recoveries from SX-EW processing at Kulu would increase to over 90%."

"Anvil expects that in 2007, the Kulu Mine will produce 12,000 tonnes of copper contained in oxide concentrates grading approximately 27%, which is 4,000 tonnes less than previously estimated. The lower production at Kulu is due to lower feed grade (6.0%), but mainly lower copper recoveries (averaging 53%) from processing generally finer grained material.

Recently, lower feed grades and finer grained material have been due to the combined effects of intense activity by artisanal miners and torrential rains that may have resulted in a redistribution of material near the areas being mined. See “Risk Factors”. Anvil will conduct an evaluation including a surveying and sampling program to determine the degree to which the re/tailings have been redistributed along the watercourse."


"Anvil’s objective is to become an established mid-tier profitable producer of base and precious metals by pursuing the following strategies:
(i) maintain the production levels at the DikulushiMine at or above design capacity;

(ii) complete drilling below the currently designed open pit ore body at the DikulushiMine with the objective of delineating additional underground mineral resources and reserves;

(iii) commence underground mining operations at the Dikulushi Mine;

(iv) continue its exploration programs in prospective areas near the Dikulushi Mine, the Mutoshi site and at Kinsevere-Nambulwa;
(v) move into downstream processing at the Kulu Mine;

(vi) commission an HMS operation at the Kinsevere Project during the second quarter of 2007, followed by the commissioning of an EAF during the fourth quarter of 2007;

(vii) begin construction of the 60,000 tonnes per year of copper SX-EW facility at the Kinsevere Project in the third quarter of 2007;

(viii) seek low-cost development and production opportunities and acquire complementary exploration properties;

(ix) confirm the resource potential atMutoshi; and

(x) investigate low-cost development opportunities outside of the DRC in order to provide a balance to
the concentration of productive assets within the DRC."