25 May 2012

Grade boost for African Copper

30/01/2006 Robert Tyerman

African Copper reports encouragingly high-grade copper and silver intersections at its Thakadu and Makala prospects in Botswana.

Steered by chief executive David Jones, AIM-quoted African Copper says drilling has revealed intersections of 4.45 per cent copper and 1.97 oz of silver per tonne of ore over 12.74 metres at Thakadu and 2.64 per cent copper and 2.5 oz of silver over 6.24 metres at Makala. These prospects lie some 70 km south-east of the London-based company's flagship prospect at Dukwe.

Joe Hamilton, African Copper's chief operating officer, argues Thakadu and Makala show 'striking similarities to the sedimentary-hosted copper deposits of Zambia and Congo'. African Copper intends to complete a feasibility study on the two projects, to replace earlier studies that it says are now out of date.

Shares in African Copper have doubled since Growth Company Investor highlighted their speculative appeal at 45.5p last November. At 91.5p, up 9p this morning, they value the company at £48 million and could go further.

Sector: Industrial Engineering

Companies: African Copper

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