move over twiggy, there's a new man in town, page-5

Hi All,

here is a paragraph from that article:

More than 1 billion tonnes of ore has been identified at Avima, including a high-grade portion of 455 million tonnes grading 56.1 per cent iron, and magnetic surveys over the project have identified a further exploration target totalling a huge 5.3 billion tonnes.

To put that into context, Sundance Resources' Mbalam iron ore project, which is just over the border from Avima and at a similar stage of development, has a high-grade portion of 521.7 million tonnes at 60.7 per cent iron and is on the receiving end of a $1.7bn takeover bid from China's Hanlong Mining.

And Avima's high-grade resource is 13 times larger than the resource of fellow Republic of Congo play African Iron, which is subject of a $286m takeover bid.


cheers

MBM