stolwyk please, page-2

re: stolwyk please /miningnut Thanks Miningnews.net

Anvil plans growth

Michael Quinn


Friday, September 17, 2004
ANVIL Mining has said it is in confidential negotiations with various parties regarding deals in the Democratic Republic of Congo, after being queried by the ASX in regards to a recently improved share price.

The junior copper miner also noted that the Canadian broker that backed the company's recent IPO in Canada, had put a target price of C$6/share on the stock – the Australian stock is currently trading at the equivalent of around A$5/share – and confirmed that recent drilling would likely extend the Dikulushi mine by about two years.

As at June 30, 2003 Dikulushi had resources of 123,600t of copper. Completion of commissioning of an expansion will see the mine having annual production of around 20,000 tonnes of copper and 1.4 million ounces of silver.

At a presentation in Toronto this week, Anvil flagged an objective of developing another copper project initially producing 15-20,000t per annum of copper in concentrate and from years 3-4 some 20,000tpa of copper cathode. Further expansions of the cathode operation to 40-50,000tpa would be sought within five years, with Anvil also looking at entering the cobalt market.

Shares in Anvil were up 0.5c to 50c in afternoon trade.