ANVIL MINING NL
Anvil Mining NL ("Anvil") is pleased to announce significant progress
on the development of the Dikulushi copper-silver mine in the
Democratic Republic of Congo ("DRC"). The project is now
approximately 55% complete, it is on budget and it is scheduled to
produce its first concentrate averaging 40% copper and 1,230 g/t
silver, by 25 August 2002.
LAUNCH OF CONCENTRATE BARGE
On 14 June 2002, Anvil officially launched the Dikulushi concentrate
barge. This is a self-propelled barge, 48 metres long and 10 metres
wide, powered by two 150 HP Z-Drives fabricated by Thrustmasters in
Houston, Texas. The barge, which is capable of carrying up to 250
tonnes of cargo, began transporting containers and larger equipment
across to the DRC on 18 June. Prior to the launch of this large
barge, the construction works were supported by a vehicular pontoon
barge (25 tonne capacity) purchased in April 2002 from the Zambian
Roads Department.
The sixteen prefabricated sections used to build the large
concentrate barge were purchased in August last year in Richards Bay
South Africa, where they underwent a considerable amount of
re-engineering between August and December 2001. During February and
March this year, the sections were transported to Nchelenge, a town
on the Zambian side of Lake Moero, where the barge assembly operation
was undertaken.
DOCKING FACILITIES AT NCHELENGE, ZAMBIA AND KILWA, DRC
The docking facilities at Nchelenge (Zambia) and at Kilwa (DRC side
of Lake Moero) are now 90% complete. The docking site on the DRC side
of Lake Moero was moved south from Mobanga to Kilwa because of water
depth issues.
An existing house on the land occupied by the Nchelenge docking
facility has been refurbished for use by local Customs and
Immigration officers, and port authorities. A similar building has
been erected for the same purpose at the Kilwa docking facility.
HEAVY MEDIA SEPARATION PLANT
Construction of the 35 tonne per hour Heavy Media Separation ("HMS")
Plant in Johannesburg was completed on 12 June 2002. After water
testing, the plant was dismantled in preparation for shipment to the
DRC. It is expected to arrive on site by 28 June 2002. The HMS plant
is a modular unit and erection on site will take less than one week.
CRUSHER CIRCUIT
A three-stage crusher circuit purchased from major shareholder First
Quantum Minerals Ltd in April was brought to Ndola, Zambia where it
underwent a complete refurbishment. It is now at Nchelenge on the
Zambian side of Lake Moero, and will be transported to the Dikulushi
site when the concrete plinths at the plant site are completed during
the next two weeks.
MINE SITE LABORATORY
A containerised mine site laboratory has been assembled in Perth by
SGS Laboratories. The four containers are due to leave Perth for
Durban, South Africa today.
MINE SITE POWER GENERATORS
The four 375KW Scania electrical power generating units were
delivered to Nchelenge in May and will be taken across to the mine
site during the coming week. The concrete plinths for the power units
are approximately 60% complete.
MINE SITE CONSTRUCTION WORKS
Construction works at the mine site were stepped up in early June
following the clearing of the site and the surveying of the civils
layout in May. Work has commenced on the ROM pad retaining wall, the
stockpile tunnel, the crusher pad, and the fuel storage area. The
vegetation has been cleared from the tailings dam area.
The accommodation units to house 30 contractors were completed this
week and during the coming weeks additional units will be erected to
house a total of 60 contractors.
ROAD ACCESS
The 50 km access road from the docking facility at Kilwa to the mine
site at Dikulushi has been upgraded so that the trip now takes 75
minutes in a two-wheel drive vehicle. Further refurbishment work and
laterite sheeting will be undertaken on this road over the next month
to facilitate the movement of concentrate trucks.
STAFFING
Anvil has continued to build up the small team who will manage the
operation of the Dikulushi mine. Project Manager Mike O'Sullivan is
now on site at Dikulushi with his family. Others on site include
Denham Vickers, Manager Mining; Frederick Ng'ona Mine Geologist; Anne
Normandin, Project Administrator; Gerry Hyendrick, Barge Training
Skipper; Graeme Martin, HSE Superintendent and Medic; Thinus Bergh,
Manager Security; and Mertyl Adams Camp Superintendent. All have
substantial African experience.
Choong Tan, previously Chief Financial Officer for African Mining
Services in Johannesburg will join the Company in Perth as Financial
Controller, on 24 June 2002.
PROJECT FUNDING
Anvil commenced the drawdown on the RMB Resources Ltd Project
Financing Facility on 21 May 2002. Anvil has access to all the funds
required to complete the development of the Dikulushi Project, and
most importantly, has all the DRC government approvals required. In
addition, Anvil disposed of a further 200,000 Golden Star Resources
Ltd ("GSR") shares on 3 June 2002 at a share price or US$2.22 for net
proceeds of US$441,780. Anvil currently holds 842,361 GSR shares.
Anvil acquired these shares in GSR in August 2001, at a deemed price
of US40 cents per share, following a conversion of its direct
interest in Bogoso Gold Limited in Ghana, to an equity interest in
GSR.
DIKULUSHI RESOURCE
Dikulushi has an independently audited Measured, Indicated and
Inferred Resource (at a 2% Cu cut-off) of 1.94 million tonnes at an
average grade of 8.58% copper and 266 g/t silver, 85% of which is in
the Measured and Indicated categories. Since Dikulushi is open at
depth, with one of the deepest drill intersections (DIK 30)
intersecting 16.7 metres of 16% copper and 522 g/t silver at a
vertical depth of only 165 metres, potential exists to significantly
increase the resources of this deposit and extend the mine life well
beyond its current 8 years.
The HMS approach is expected to produce a concentrate grading
approximately 40% copper and 1,230 g/t silver. Subsequent expansion,
with the addition of a ball mill and flotation circuit (Stage II)
would be largely funded out of project cashflows and would produce a
very high-grade concentrate averaging 60% copper and 1,935 g/t
silver.
For additional information, please contact:
Bill Turner
EXECUTIVE DIRECTOR
Tel: +61 89 481 4700 or +61 (0) 411 188 018
Email: [email protected] (Perth) and [email protected] (travel)
Anvil HomePage: www.anvil.com.au
ends - AAP
- Forums
- ASX - By Stock
- Hear is the Update - Looks Good
Hear is the Update - Looks Good
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
BGD
BARTON GOLD HOLDINGS LIMITED
Alex Scanlon, Managing Director & CEO
Alex Scanlon
Managing Director & CEO
SPONSORED BY The Market Online