AMX aerometrex limited

This may have something to do with...

  1. 1,296 Posts.
    This may have something to do with it.
    http://www.theaustralian.com.au/business/mining-energy/australian-mining-activity-picks-up-amid-civil-strife-in-burkina-faso/story-e6frg9ex-1226035380371

    Robin Bromby, Pure Speculation, The Australian Newspaper.

    ANOTHER West African country is showing signs of civil stress - and this time, a big Australian exploration investment is involved.

    That country is Burkina Faso.

    This is nowhere near as serious as the situation in Ivory Coast - where there are Australian interests held by companies such as Newcrest Mining (NCM) and Perseus Mining (PRU) - but events of the past week in the capital, Ouagadougou, might raise some questions about the stability of Burkina Faso.

    Last Friday in this space, Pure Speculation raised the issue of political risk in the region and then received this email from a senior executive with a global mining house: ?I?m currently in Ouagadougou, which is under curfew from 9pm to 6pm due to the military unrest earlier this week (shooting up the mayor?s house the other night, grenades into one of the court houses, soldiers driving around firing into the air at night, etc, etc). It is relatively minor, but a good example of how fast things can change.?

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    According to agency reports, the mayor of Ouagadougou and No 3 in Burkina Faso's ruling party, Simon Compaore, was injured when angry soldiers ransacked the mayor?s home. Angry soldiers left their barracks in the east of Ouagadougou, shooting in the air and going on the rampage in Compaore's home. Before that, soldiers fired a rocket at the main courthouse in the eastern city of Fada N'Gourma, a day after freeing from prison a comrade jailed for rape, and then blocked the entrance to the town with tanks. In Ouagadougou, several soldiers fired in the air and looted stores to protest the conviction of five colleagues in a sex scandal.

    Peace seems to have now been restored, but it shows that the rule of law is pretty thin and easily breached in Burkina Faso.

    There is no indication yet that our exploration companies will be in any way affected - unlike the rather more chaotic situation in Ivory Coast to the south.

    Activity is picking up in Burkina Faso.

    Today, Canyon Resources (CAY) said rock-chip sampling and augur drilling at the Taparo North project had returned what it called significant assays of copper, gold, silver, lead and zinc.

    Yesterday, Golden Rim Resources (GMR) launched a drilling program at the Balogo prospect, while Carbon Resources (CRB) on Tuesday said it had identified a 1.2km-long anomaly in its gold search.

    Other explorers active in Burkina Faso include West African Resources (WAF), Mt Isa Metals (MET), AusQuest (AQD), Ampella Mining (AMX), ElDore Mining (EDM) and Gryphon Minerals (GRY), which has a resource of 2 million ounces.
 
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