Archives for April, 2013
Earlier this week ZYL announced an update to the Mbila resource. Total JORC-compliant Resources at Mbila now stand at 125 million tonnes of anthracite. The main advance since the last resource statement, in November 2012, is that Measured and Indicated Resources have increased from 39% to 70% of the total…
ZYL has proposed a series of transactions that will lead to the settlement of all legal issues and the raising of sufficient capital to fund ongoing development. This will result in a trebling of issued capital and a total capital raising of $13 million (AUD) over the next year or so. While…
0.39 g/t Gold grade of the Paracatu mine operated by Kinross Gold Corporation in Brazil, believed to be the lowest grade gold mine in the world. It has reserves of 1,461,061,000 tonnes at 0.39g/t for a total of 18,485,000 ounces of gold 3420oC Melting point of Tungsten, the highest…
Today Coppermoly held a General Meeting at the Gold Coast Turf Club to consider several resolutions to replace the existing four man board with four nominees. The incumbent board was returned, but by a very close margin. The average vote of the four resolutions to remove the current board was…
I have been asked by a number of investors to comment on the effect of changes in the 2012 Edition of the JORC Code (explained below). These changes will be implemented on 1 December 2013. In particular, there is concern that listed companies will be severely constrained in the reporting…
After being suspended since 7 March 2013, ZYL announced yesterday that all legal disputes and financial issues had been settled (read the announcement here). This will now allow the company to accelerate development of its anthracite assets in South Africa. The outstanding feature of the settlement is that, for the…