Not sure if this has been posted before but its from the AFR 27th March 2013.
African precious and base metals junior, Blackthorn Resources, would appear highly leveraged to its Mumbwa copper project in Zambia.
The project was previously a joint venture with BHP Billiton but the world’s biggest miner dropped out of the project in May 2011 because it didn’t believe it could develop into another Olympic Dam.
But since then, exploration has revealed a very promising deposit.
“I think that it’s going to look very different to the original scoping study,” Tonkin says. “It seems like the resource is going to get bigger and the grade is high.”
As well as showing strong mineralisation, the Kitumba deposit at Mumbwa is on the side of a hill.
This means there is an opportunity to go underground via the side of the hill to access the ore sooner.
Blackthorn is aiming to complete a pre-feasibility study by June which would allow the company to apply for a mining licence before needing to apply for an extension to its Kitumba exploration licence.
imo BTR is being priced for a complete disaster when it comes to its kitumba pre feasibility study anything half decent could make btr spike!
dyor
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