African Copper Plc: Half-Year Results
African Copper Plc: Half-Year Results
African Copper Plc: Half-Year Results
African copper crusher plc today announces interim results for the sixth month period ended 30 September 2010.
Highlights
Sound increase in production profile with August seeing highest ever production levels of 561 Cu tonnes at Mowana mine;
Improvement to Mowana plant reducing production bottlenecks and ready to lessen impact of rainy season;
Interim Revenues of US$8.1 million;
Geological work continues to indicate increased resource base at Mowana;
Full mining licence anticipated during December 2010 for Thakadu deposit, which will share all infrastructure with Mowana; Under the current development permit issued in September 2010 Thakadu ore was treated in Mowana plant in September and October 2010;
Strengthening of Company's technical team with highly competent and focused people, to ensure effective ore scheduling and delivery to the process plant.
Post period end agreement of loan of US$7.5 million from majority shareholder ZCI to fund exploratory drilling on Matsitama Exploration Project and Mowana North deposit and other Mowana plant improvements.
Commenting on the results, Jordan Soko, Interim Chief Executive Officer and director of African Copper, said, "African copper crusher has made transformational strides in the past six months and this has been recognised by the agreement, post period end, of a further development loan from ZCI Limited to support the Company's plans going forward. African Copper crusher now has an exciting mix of production, near production and exploration assets on the highly prospective Matsitama base, an asset base of the highest quality which we look forward to developing further in the future."
He added: "African Copper crusher copper crusher continues to add to its administrative and technical teams and I would like to thank all of the Company's staff, whose skill and dedication has been instrumental in advancing the Company's production profile and exploratory programmes forward in the past six months".
The technical information in this announcement has been reviewed and approved by David De'Ath, BSc (Hons), MSc, GDE-Mining, MIMM and MAusIMM, the Company's Manager - Geology, of the Mowana Mine for the purposes of the current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009.
BinQ is a professional mining equipment manufacturer and exporter. We have a team of high quality research experts who have always been providing best jaw crusher plant solutions for our customers. For more than 20 years, apart from grinding mill, we have provided with grinding mill,stone crusher and jaw crusher etc.
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