Companies: AIMR   

Mineral prospector AIM Resources is optimistic ahead of a bankable feasibility study into its key Perkoa zinc project in the West African state of Burkina Faso.

Marc Flory, managing director of Aussie-listed AIM Resources, says he hopes the £630,000 study by independent consultant Snowden will confirm estimates of a seven million tonne deposit at 17.6 per cent zinc, capable of being developed for £37 million and generating yielding annual revenues of £91 million and profits of £30 million for 17 years. If the study, due in two to three weeks, supports these projections, he adds that Sydney-based AIM, now valued on the AIM market at £14 million, will tap the markets for the £10 million expected equity portion of the project cost within four months.

AIM Resources, whose backers include mining giant BHP Billiton, raised £1.45 million at 2p when it was floated in March by broker Hichens Harrison, with accountant Grant Thornton as nominated adviser. Flory, with a background in fund management, says the company's connection with BHP Billiton has been crucial.

This link has helped the company in finding its African projects. These consist of Perkoa, a promising copper and gold venture at Mumbwa in Zambia and a low grade platinum deposit at Mokopane in South Africa, which could be sold.

According to Flory, if all goes well, AIM Resources might consider turning itself into a holding company with operating subsidiaries in various fields, such as gold. At 2.75p, the shares have speculative appeal.

AIM Resources	AIM	£6.63m	0.62p	-0.08p
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