new board needed, page-11

Nothing we didnt know but here is our write up in the proactive investors.


Global Strategic Metals granted lithium mining licence in Austria
Friday, February 15, 2013 by Proactive Investors


Global Strategic Metals (ASX:GSZ) has received a mining licence for its flagship Wolfsberg Lithium project in Austria, paving the way for mining activities on the project.

The mining licence allows Global Strategic Metals to carry out mining activity to extract two 500 tonne bulk samples without having to complete a second egress that would require a drive of about 180 metres.

Once the bulk samples are extracted, the leases of the project will be granted to the company in perpetuity for potential development towards a concentrate and then carbonate production to supply the European lithium market.

The Wolfsberg Lithium project in Austria is located about 270 kilometres south of the capital Vienna and is close to the industrial town of Wolfsberg.

The company has significant land holding of granted exploration and mining licences with an inferred JORC resource of 18 million tonnes at 1.6% lithium oxide including a measured resource of 3.7 million tonnes at 1.5% Li2O.

There remains substantial exploration upside with the ore body open at depth and along strike.

The project is also likely to gain from the projected increase in global lithium demand as well as strong price forecasts.

Additionally, the project is in a strategic location to supply to the European markets, where currently no lithium oxide is produced.

It is well serviced with infrastructure that includes rail and road as well as close to cities at Wolfsberg and Deutschlandsberg.