Congo Resources

[FL]

or else not... Moto is being acquired by Randgold Resources (GOLD) despite agreement with Red Back, it now seems.

[FL]

Red Back (RBI.TO) acquiring Moto (MGL.TO), Congo (DRC)

----- mining-technology.com ---- 2 June 2009 ----------

Red Back to Acquire Moto Goldmines


Canada’s Red Back Mining will acquire Toronto-based Moto Goldmines for C$513m.

Under the agreement, each outstanding common share of Moto will be exchanged for 0.45 of a common share of Red Back, at C$10.45 per share.
The acquisition combines Red Back’s two gold mines — Chirano Mine in Ghana and Tasiast Mine in Mauritania — and Moto's 70% stake in the Moto gold project in the Democratic Republic of Congo.

On completing the transaction, Moto will become a wholly-owned subsidiary of Red Back.

The commissioning of Moto Gold Mine will bring more than one million ounces of gold per annum and is set to provide cash operating benefits.

By staff writer

[Ed Monton]

El Nino drills 2.82% Cu over 29 m at Kasala project


2008-10-06 09:53 ET - News Release

Mr. Jean Luc Roy reports

EL NINO VENTURES INC. MAKES SIGNIFICANT COPPER/COBALT DISCOVERY (29 METERS AT 2.82% CU AND 0.34% CO) IN THE DEMOCRATIC REPUBLIC OF CONGO

El Nino Ventures Inc. has made a significant copper/cobalt discovery on its research permit PR 5214, located in southeastern Katanga province in the Democratic Republic of Congo. This area has now been dubbed the Kasala project.

The discovery was made during the course of the company's 10,000-metre reverse circulation (RC) drilling program, when an RC drill hole, MDB-023, was completed in the central northern area of PR 5214.

Company geologists reported the presence of malachite mineralization over a wide interval in the drill cuttings from this hole. MDB-023 (minus-45 degrees) ended at 97 m due to difficult ground conditions.

Samples from MDB-023 were collected using strict quality controls and were then dispatched to ALS Chemex Laboratories in Johannesburg, South Africa, for sample preparation and assay. Analytical results received from ALS Chemex indicate a 29 m intersection grading 2.82 per cent Cu between 17 and 46 m, which includes an intersection of 4.11 per cent Cu and 0.50 per cent Co between 21 and 26 m.

Drill highlights of hole MDB-023 can be found at the company's website.

Since the completion of hole MDB-023, an additional 47 holes have been drilled in the Kasala area, 19 diamond drill holes (DDH) and 29 reverse circulation holes (RC). Company geologists report visible malachite mineralization (ranging from weak to very strong over varying thicknesses) in 31 of the 48 holes drilled in this area. The strike length of this discovery stands at approximately 800 m at present. Drilling has been halted for the time being in order for the company to compile and analyze the substantial assay data which are expected to be received over the next four to six weeks.

An induced polarization (IP) ground geophysical survey is now under way in the Kasala area to trace possible extensions of the mineralized zone. All information gathered over the next six to eight weeks will be compiled and analyzed by the company's technical team to plan additional drilling in this area. Remaining samples from the other mineralized drill holes completed in this area are being shipped to the ALS Chemex facilities in Johannesburg where they will be analyzed. The company has requested that ALS Chemex perform priority analysis of these samples.

Research permits 5215 and 5217

Two other target areas on PR 5215 and PR 5217, respectively, were tested during the company's 10,000 m RC scope drilling program without significant results. Thirty RC holes totalling 3,215 m were drilled on PR 5217 and 23 RC holes totalling 1,995 m were drilled on PR 5215. Analytical results have been received from ALS Chemex for 21 of the 32 holes drilled on PR 5127 and for five of the 23 holes drilled on PR 5215 with no significant results reported. Analytical results are awaited for the remaining 29 drill holes. No further drilling is currently planned for on these two research permits. The company will compile all results from this year's campaign and plans further geochemical and geophysical surveys to generate new targets on these two permits.

Jean Luc Roy, president and chief executive officer of El Nino, states: "This discovery on our Kasala project is very significant and we feel that when all assay results are returned the company will have a substantial project to work on, over the next drill season. The grades and thicknesses on our findings are very encouraging and we look forward to sharing results from other drill holes on the Kasala project, over the next four to six weeks."

The content of this press release has been reviewed by Benoit M. Violette, Geo, consulting geologist and the qualified person under NI 43-101.



DRILLING SUMMARY -- KASALA PROJECT

Hole Id Depth (m) From (m) To (m) Interval (m) Copper (Cu) Cobalt (Co)

 
 MDB-DD-006   150.0                         Assays pending 
 MDB-DD-007   195.7                         Assays pending 
 MDB-DD-008   122.3                         Assays pending 
 MDB-DD-009   128.0                         Assays pending 
 MDB-DD-010   150.7                         Assays pending 
 MDB-DD-011A  109.0                         Assays pending 
 MDB-DD-011B  144.8                         Assays pending 
 MDB-DD-012   146.8                         Assays pending 
 MDB-DD-013   150.0                         Assays pending 
 MDB-DD-014   150.0                         Assays pending 
 MDB-DD-015   250.0                         Assays pending 
 MDB-DD-016   187.3                         Assays pending 
 MDB-DD-017   161.3                         Assays pending 
 MDB-DD-018   167.3                         Assays pending 
 MDB-DD-019   213.0                         Assays pending 
 MDB-023       97.0        17      97      80           1.42%      0.13% 
 including                 17      46      29           2.82%      0.34% 
 including                 21      26       5           4.11%      0.50% 
 MDB-024       53.0                         Assays pending 
 MDB-025      100.0                         Assays pending 
 MDB-026       47.0                         Assays pending 
 MDB-027      100.0                         Assays pending 
 MDB-028      100.0                         Assays pending 
 MDB-029       89.0                         Assays pending 
 MDB-030      100.0                         Assays pending 
 MDB-031       56.0                         Assays pending 
 MDB-032       96.0                         Assays pending 
 MDB-033      100.0                         Assays pending 
 MDB-034      100.0                         Assays pending 
 MDB-035      100.0                         Assays pending 
 MDB-036       45.0                         Assays pending 
 MDB-037       61.0                         Assays pending 
 MDB-038      100.0                         Assays pending 
 MDB-039       73.0                         Assays pending 
 MDB-040      100.0                         Assays pending 
 MDB-041      100.0                         Assays pending 
 MDB-042      100.0                         Assays pending 
 MDB-043      100.0                         Assays pending 
 MDB-044      100.0                         Assays pending 
 MDB-045       83.0                         Assays pending 
 MDB-046       89.0                         Assays pending 
 MDB-047       85.0                         Assays pending 
 MDB-048      100.0                         Assays pending 
 MDB-049      100.0                         Assays pending 
 MDB-050      109.0                         Assays pending 
 MDB-051      149.0                         Assays pending 
 MDB-052       77.0                         Assays pending 
 MDB-053       83.0                         Assays pending 
 MDB-054      150.0                         Assays pending 
 MDB-055      150.0                         Assays pending 
  
 

[xio]

Israeli investor takes 25 per cent of Anvil
11th July 2008, 9:15 WST

Israeli mining investor Dan Gertler will take a 25 per cent stake of Osborne Park copper producer Anvil Mining, after subscribing to a share placement worth about $306 million.

Anvil, which is also listed on the Toronto Stock Exchange, is a producer of copper and silver in the Democratic Republic of Congo.

The company said in an announcement it would sell 23.7 million of its TSX-traded shares at $C12.50 each – raising a total of $C296.7 million – to Catala Global, owned by a trust linked to Mr Gertler's family.

The money will be used to complete the expansion of the Kinsevere mine and Kulu tailings facility, and to study an expanded treatment plant at Kolwezi, Anvil said in an announcement.

Catala will have the right to nominate at least one person to the Anvil board following the placement, and will have the right to participate in future share issues so as to maintain its position as long as it, or its affiliates, retains a 20 per cent stake in the firm.

Shares in the company were up 32 per cent, or $2.94, to $11.94 at the close of trade.

[Tackler]

Tiger Resources to list on TSX on July 2

2008-06-27 18:02 MT - News Release

TSX bulletin 2008-0721

An application has been granted for the original listing in the mining category of 298,655,765 ordinary shares of the company, of which 251,192,527 ordinary shares are issued and outstanding, and 47,463,238 ordinary shares are reserved for issuance.

The ordinary shares of the company will be listed and posted for trading at the open on Wednesday, July 2, 2008.

The company is subject to the reporting requirements of Section 501 of the Toronto Stock Exchange company manual.

Symbol: TGS

Cusip No.: Q90355 10 0

Trading currency: Canadian dollars

Temporary market-maker: Dundee Securities Corp.

Other markets: The ordinary shares of the company have been listed on the Australian Securities Exchange since May 8, 1997, under the symbol TGS.

Incorporation: The company was incorporated under a memorandum and articles of association in Western Australia on Jan. 31, 1997, as a no liability company under the name Tiger Resources NL. The constating documents were replaced by a constitution on Nov. 29, 2001, and on Jan. 18, 2002, the company changed from a no liability company to a limited liability company and changed its name to Tiger Resources.

Fiscal year-end: June 30

Nature of business: The company is engaged in the acquisition, exploration, development and operation of mineral properties, currently focused on the exploration of its portfolio of copper/cobalt projects in the Democratic Republic of the Congo.

Transfer agent and registrar: Computershare Investor Services Pty. Ltd. at its principal office in Perth, Western Australia, and Computershare Investor Services Inc. at its principal offices in Vancouver and Toronto

Dividends: The company has not paid any dividends or made any distributions since incorporation. The company does not anticipate paying dividends in the foreseeable future.

[xio]

LAQ Video Interview

http://new.goldmau.com/goldmautv.php?v=0806-MalcolmSwallow.flv

Transscript:
http://new.goldmau.com/media/interviews/0806-MalcolmSwallow.pdf

[xio]

La Quinta receives final approval of acquisition of 7010 square kilometers of gold exploration ground in Congo

VANCOUVER, Jun 26, 2008 (Canada NewsWire via COMTEX News Network) --
LAQ: TSX-V
La Quinta Resources Corp. ("La Quinta" or, the "Company") (TSX-V: LAQ) of Vancouver, British Columbia is pleased to announce that the TSX Venture Exchange has now approved the completion of the Exploration and Option and Joint Venture agreements signed on April 23rd 2008 between the Company and Wa Balengela Kasai Investments (Congo) sprl (See Press Release No. 08-06 dated April 23rd, 2008.) The Exploration and Joint venture agreements between WBK and the Company cover a total of 32 Permis de Recherche granted to WBK by the Democratic Republic of Congo's Mining Registry, Cadastre Minier, on March 10th 2008. The 32 Permits cover a total of 7,010 square kilometers of gold exploration ground on the Maniema South Kivu Gold belt between and abutting the Lugushwa and Namoya multi million ounce properties of Banro Corporation (TSX:BAA)

Mr. Malcolm Swallow, the Company's Chairman and CEO commented, "We are delighted to finally complete theses Entry, Option and Joint Venture Agreements and to obtain TSXV approval for the transaction. We, and our partners Wa Balengela Kasai have been working on this transaction for almost two years, including, clearing the title and obtaining the final signed Permis de Recherche, before we could finally sign and complete the transaction. The highly prospective nature of the ground in a well known and readily identified gold belt with two major discoveries by others in the area, has lead to a highly competitive and difficult title exercise and makes it doubly satisfying to finally complete the acquisition for the Company.

We have an experienced and extensive set up in DRC led by Michel Cormier, P.Geo, the Company's President and COO, who is a known mine finder in Africa and an experienced explorationist and this means that we can get off to an early and rapid start to our exploration efforts, using our existing team of geologists and support personnel and aided by WBK. We look forward to a rapid and effective exploration program working on two fronts to explore this extensive gold belt."

About La Quinta Resources Corp.

La Quinta is a publicly held Canadian natural resource mining company focused on exploring for precious metals principally in Democratic Republic of the Congo and Mexico. The Company is led by a highly skilled, experienced Board and management team with significant successes in finding and developing early stage gold and base metals projects.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

On Behalf of the Board
Malcolm J A Swallow
Chairman and CEO

[Mangoust]

New player in Congo

www.chevalierresources.com

Has anybody heard of them?

Michel Côté
Chairman


Sébastien Plouffe
President and CEO


Thanks,

Mangoust

[Ed Monton]

La Quinta finalizes JV deal to explore for gold in DRC


2008-04-23 11:58 MT - News Release

Mr. Malcolm Swallow reports

LA QUINTA SIGNS FINAL AGREEMENTS FOR THE ACQUISITION OF 7,010 SQ KM IN MANIEMA SOUTH KIVU GOLD BELT-DRC

La Quinta Resources Corp., together with its partner in the Democratic Republic of Congo, Wa Balengela Kasai Investments Congo SPRL (WBK), has signed formal agreements completing the formation of a joint venture company which will option and explore a contiguous group of 32 exploration licences, or permis de recherche, granted to WBK by the Cadastre Minier under the mining code of the Democratic Republic of Congo. The research permits or exploration licences are located in Maniema and South Kivu provinces in southeastern DRC abutting and covering all the ground between Banro Corp.'s Lugushwa and Namoya gold properties. The WBK licences cover about 7,010 square kilometres of the highly prospective Twangiza-Namoya gold belt and extends about 120 kilometres to the west. Banro has indicated the discovery of multimillion-ounce deposits of gold on both Lugushwa and Namoya.

Malcolm Swallow, La Quinta's chairman, said: "Both we and WBK are delighted to have finally completed this transaction and we both look forward to working together to commence exploration on such a highly prospective piece of ground in a known gold belt, abutting and between recently discovered major gold deposits. The issuance of the signed exploration permits to WBK on March 10, 2008, by the Congolese government removes any uncertainty as to title and we look forward to working with our partners Wa Balengela Kasai to outline and discover new gold projects in this highly prospective gold belt."

This transaction was originally contemplated in an MOU signed between the parties in August, 2006 (see press release in Stockwatch dated Aug. 28, 2006), and has been delayed pending completion of formal agreements and the receipt by WBK of the signed permis de recherche for the 32 exploration licences which were finally received by WBK on March 10, 2008, signed by the DRC government. The option and joint venture agreement was conditionally approved by the TSX Venture Exchange for filing in October, 2007, and the signed agreements have now been submitted to the TSX-V for final acceptance.

The formal agreements give La Quinta the option to earn up to 80 per cent in the joint venture company with WBK by financing $10-million (U.S.) in exploration expenditure over five years, with a minimum expenditure of $2-million per year. Upon completion of a feasibility study within the five-year period, the joint venture will be entitled to develop the properties within the 7,010-square-kilometre exploration licence areas by converting them to an exploitation licence or licences, in accordance with the mining code of the Democratic Republic of Congo.

Upon the commencement of the joint venture, La Quinta will hold a 10-per-cent interest in the joint venture company and WBK will hold 90 per cent, and La Quinta shall have the right to increase its interest in the joint venture company to an 80-per-cent interest by making payments to WBK totalling $1.5-million (U.S.) and issuing eight million shares of La Quinta over the first three years of the agreement. Upon completion of all share issuances and cash payments, La Quinta will be vested with an 80-per-cent interest and WBK with a 20-per-cent interest in the joint venture company.

During the exploration period, ownership of the concessions shall remain vested with WBK and will be transferred to the joint venture company on completion of the feasibility study as contemplated in the formal documentation. WBK shall be responsible with assisting the joint venture company with government relations, local liaison and local management, and expediting of the projects in the DRC.

On any gold production, the joint venture company shall pay WBK a net smelter return of 2.5 per cent. La Quinta has agreed to pay finders' or agents' fees in respect of the transaction in the amount of 550,000 shares payable by La Quinta in six instalments, over the first three years of the agreement, prorated and made at the same time as La Quinta is required to make share payments to WBK. There is an area of mutual interest (AMI) established stretching 20 kilometres from the outside borders of any of the rights held in the joint venture company. The parties have also agreed that the joint venture company will establish operating, local relations and finance committees with representatives of each of the parties. As part of the agreement, LAQ will offer two representatives of WBK representation on the board of LAQ.

The WBK properties to be optioned and acquired by the joint venture company will form the primary focus of the company's exploration work in Congo. The company is currently working adjacent to the WBK licences on the Kampene gold project also in DRC (see press release in Stockwatch dated April 17, 2007). In addition, the company is working in Mexico on the Orofino gold project in Sonora state. The company has already established a considerable presence in the DRC, and has exploration staff and equipment ready to commence work immediately on the much larger Maniema-South Kivu area.

A map showing the location and extent of the exploration leases, and the overall area's relationship to the Twangiza-Namoya gold belt, plus certified copies of the relevant permis de recherche, can be found on the company's website.

Malcolm Swallow, the company's chairman and chief executive officer, and a qualified person, both in British Columbia, Canada, and in Europe, acted as the qualified person for this news release, being a signatory of the final agreements and also being responsible for the acquisition of this property.

[Ed Monton]

Affinor no longer cease traded, raises $140,000


2008-04-01 14:48 ET - News Release

Mr. Dominic Gingras reports

AFFINOR: CEASE TRADING ORDER REPELLED AND UPDATES

Affinor Resources Inc.'s cease trade order issued Oct. 16, 2007, was repelled on March 7, 2008.

The company has closed its September, 2007, private placement for a total of $140,000. Consequently, the company has issued 1.4 million shares at a price of 10 cents per share and 1.4 million warrants to subscribe at 15 cents per share until Sept. 30, 2009.

Some of the company's property agreements have been modified. On Dec. 17, 2007, the company cancelled its option agreement on the Hebecourt property. The Dasserat property has also been abandoned as it did not meet with expectations.

Furthermore, Affinor also announces changes to the agreement with Gemco Trading Inc. regarding the acquisition of interest in Gemco's properties in the Democratic Republic of Congo. The terms of the acquisition were amended on Dec. 5, 2007, and provided for the cancellation of all cash payments and the issuance of 750,000 shares instead of three million shares payable after regulatory approval.

The company reaffirms its interest in acquiring the permits of Ressources Minieres du Congo SPRL (Remco) as stated in the press release in Stockwatch dated July 25, 2007. Affinor would also like to correct said press release, the total number of mining squares being 9,652 (8,275 square kilometres) instead of 10,204. However, as the company has not respected the conditions of the agreement, it will need to renegotiate a new agreement with Remco.

Finally, the company announces the resignations of Daniel Barrette and Gaetan Pelletier. Dominic Gingras, actual vice-president of the company, will act as interim president until the general meeting of the shareholders.

[xio]

New in Congo Club:

http://www.socointernational.co.uk/

all DRC Stocks here: http://www.dyor.de/congoclub-main.html

[xio]

http://www.dominionpetroleum.com



Dominion Petroleum Announces Acquisition of New Exploration License in DR Congo
Monday, March 17, 2008
http://"http//www.oilvoice.com/n/Dominion_Petroleum_Announces_Acquisition_of_New_Exploration_License_in_DR_Congo/a8483a51.aspx%22
http://www.oilvoice.com/n/SOCO_Reports_Presidential_Decree_and_Additional_Licence_in_the_Democratic_Republic_of_Congo/5178023d.aspx

Quote
Dominion Petroleum announces that together with partners SOCO International plc (‘SOCO’) and State Oil Company Congolaise des Hydrocarbures (‘COHYDRO’), it has signed a Production Sharing Agreement (‘PSA’) with the Government of the Democratic Republic of Congo (‘DRC’). The new PSA gives the two companies exclusive rights to explore for petroleum in Block 5 in eastern DRC next to the border with Uganda. Dominion will operate the exploration activity and holds a 46.75% participating interest through its subsidiary Dominion Congo Limited. SOCO subsidiary SOCO Exploration and Production DRC SPRL holds a 38.25% participating interest and COHYDRO holds the remaining 15% participating interest. The PSA is subject to and becomes effective upon ratification by the President of DRC.

Block 5 incorporates 7,105 km2 of land and lake areas. It lies to the west of and includes part of Lake Edward and adjoins Block 4B in Uganda where Dominion has carried out exploration activity as operator since July 2007 (100% working interest). Both Blocks are part of the Albertine Rift system of sedimentary basins where significant oil discoveries have been made in 2006 and 2007.

The first phase of the PSA lasts for 5 years, during which Dominion and partners will carry out geological and geophysical work, acquire at least 300km of seismic data, and drill two exploration wells. The PSA is renewable for two further five-year terms.

[Tackler]

MaxTech to option Congolese prospect

2008-02-19 13:55 MT - News Release

Mr. Thomas Tough reports

MAXTECH VENTURES SIGNS OPTION AGREEMENT ON PROSPECT IN THE DEMOCRATIC REPUBLIC OF THE CONGO

MaxTech Ventures Inc. has entered into a five-year option agreement to acquire up to a 100-per-cent interest in a 36-kilometre-square platinum, copper and tin prospect in the Democratic Republic of the Congo (DRC).

MaxTech can earn a 70-per-cent interest in the project by completing a prefeasibility study on the property, can purchase an additional 5-per-cent interest for cash, and the remaining 25-per-cent interest in the project can be acquired for common shares in MaxTech, based on a valuation of the property and prevailing market price of the company's common stock at the time of the acquisition.

The company has now commenced a 90-day due diligence period to evaluate information on the project. Upon successful completion of its due diligence, MaxTech will advance the optionor $100,000 (U.S.). This is an advance payment against acquiring a 5-per-cent interest in the property from the optionor, with the final purchase price to be determined based upon a valuation established in the future.

Also upon successful completion of its due diligence, the company will engage independent consultants to prepare a technical report on the project to NI 43-101 standards. The mining department of the government of the DRC has extensive technical and geological data on the prospect, due to previous work completed in the area. To assist in the development of this report, the company has an agreement to acquire this information at a cost of $150,000.

Going forward, MaxTech does not have specific exploration commitments, but will be responsible for costs relating to taking the project to the prefeasibility stage.

A formal agreement will be undertaken by the parties after the company has completed its due diligence. This agreement is subject to regulatory approval.

[xio]

$10 Billion on DRC Iron-Ore Project

By Franz Wild

Feb. 13 (Bloomberg) -- Israeli and Indian investors will spend as much as $10 billion developing what the Democratic Republic of Congo says is Africa's biggest iron-ore project.

The operation will take two to three years to start with initial iron-ore output of 15 million metric tons a year, Victor Kasongo, Congo's vice minister of mines, said today in a phone interview from the capital, Kinshasa. Annual production will eventually climb to 50 million tons, he added.

``This will be the biggest iron project in Africa and one of the top three in the world,' Kasongo said.

The iron ore will be transported 2,150 kilometers to Congo's Atlantic coast for export, he said. A steel mill will be part of the project, he added, declining to name the investors. Iron-ore prices by 9.5 percent in last year's annual contracts with steelmakers and may rise as much as 70 percent this year, Credit Suisse said Feb. 1.

Kumba Iron Ore Ltd. operates Africa's biggest iron-ore mine at Sishen, which produced 28.7 million tons in 2006. Kumba is 63 percent owned by Anglo American Plc, the world's second-biggest mining company.

Rio Tinto Group said on Feb. 5 that its Simandou iron-ore project in Guinea may eventually produce 170 million tons of the steel-making ingredient a year. Initial output from the west African nation will be about 70 million tons.

To contact the reporter on this story: Franz Wild in Kinshasa via Johannesburg at [e-mail]

[xio]

DRC video

>

[xio]

high volume today for LAQ

[xio]

Australia's Tiger Resources to trade on TSX in March



Bloomberg

January 30, 2008

Tiger Resources Ltd., which plans to produce copper in the Democratic Republic of the Congo next year, will begin trading its stock on the Toronto Stock Exchange in March, managing director David Young said. "One of the real drivers for us is that we want to move into production in 2009 and this will give us a much larger pool of investors," Mr. Young said yesterday from Lubumbashi, capital of Congo's Katanga province, where Tiger's Kipoi project is based. Tiger is following other Australian miners who began trading on the TSX to benefit from North American interest in Congo's minerals sector. TGS (Sydney) rose 2 cents to 30 cents Australian (27 cents).

http://www.reportonbusiness.com/servlet/story/LAC.20080130.RTICKERB30-3/TPStory/?query=

[xio]

Tiger Results & JORC next weeks

QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2007
HIGHLIGHTS
KIPOI PROJECT
• Initial JORC resource for Kipoi Central expected to be available in early February.
• Testwork confirms viability of setting up a Heavy Media Separation process at Kipoi
producing 32,000 tonnes of blister Copper per annum.
• 4 Diamond and 1 RC drill rigs operating on site conducting resource and exploration
drilling of highly prospective zones at Kipoi Central and Kipoi North.
• 44 diamond holes (KPCDD058 to KPCDD101) and 6 RC (KPCRC001 to KPCRC006)
holes completed at Kipoi Central for a total of 5,435m and 654m respectively.
• Significant results received during the quarter include:
Kipoi Central
o KPCDD029: 133.5m @ 6.4% Cu
o KPCDD032: 67.5m @ 5.0% Cu and 0.1% Co
o KPCDD034: 109.0m @ 5.0% Cu and 1.0% Co
o KPCDD037: 11m @ 8.9% Cu and 75.8m at 5.3% Cu (0.1% Co)
o KPCDD038: 106.0m @ 6.7% Cu and 0.2% Co (including 12.6m @15.8% Cu,
0.5% Co)
o KPCDD041: 61.5m @ 5.0% Cu and 0.1% Co
o KPCDD044: 79.5m @ 6.7% Cu (including 4.5m @ 22.4% Cu)
o KPCDD049: 70.6m @ 3.4% Cu (including 5.5m @ 15.4% Cu)
o KPCDD051: 10.0m @ 4.0% Cu and 42.0m @ 1.4% Cu
o KPCDD056: 46.0m @ 3.5% Cu and 0.2% Co
o KPCDD057: 82.0m @ 4.3% Cu and 0.4% Co (including 5.5m @13.5% Cu and
1.4% Co)
o KPCDD065: 10.5m @ 3.7% Cu and 0.1% Co
Kipoi North
o KPNDD010: 24.0m @ 1.1% Cu and 0.1% Co
o KPNDD014: 15.1m @ 2.5% Cu
Kipoi West and Kipoi Central West
o Exploration and drill results indicate that mineralisation extends over a
significant area.

http://news.iguana2.com/netwealth/ASX/TGS/394685

[xio]

MGL with hammer-results

MGL with very impressive results from Infill / Extension Diamond Drill Programme:

http://www.sys-con.com/read/493077.htm

QUOTE
- 60m at 5.41 g/t Au from 150m to 210m,

- 34m at 4.00 g/t Au from 268m to 302m,

- 82m at 1.84 g/t Au from 93m to 175m,

- 26m at 6.78 g/t Au from 202m to 228m,

- 72m at 2.90 g/t Au from 165m to 237m,

- 14m at 11.16 g/t Au from 46m to 60m,

- 48m at 3.75 g/t Au from 252m to 300m,

- 38m at 5.72 g/t Au from 314m to 352m,

- 28m at 5.64 g/t Au from 404m to 432m and

- 76m at 7.77 g/t Au from 317m to 393m.

Drillng to the west of the main Chauffeur mineralised zone returned significant results including:

- 30m at 5.05 g/t Au from 0m to 30m,

- 40m at 9.14 g/t Au from 96m to 136m and

- 38.1m at 5.31 g/t Au from 77.9m to 116m.

The Sessenge Deeps mineralised zone returned significant intercepts including:

- 48m at 10.22 g/t Au from 518m to 566m,

- 50m at 6.17 g/t Au from 479m to 529m,

- 50m at 6.53 g/t Au from 471m to 521m,

- 62m at 4.71 g/t Au from 484m to 546m,

- 16m at 11.72 g/t Au from 484m to 500m,

- 50m at 13.87 g/t Au from 472m to 522m,

- 8m at 12.58 g/t Au from 472m to 480m and

- 28m at 6.17 g/t Au from 488m to 516m.

[xio]

Moto Goldmines

http://www.istrikeinvestments.com/43101/Moto%20Goldmines%20Ltd.pdf (25MB)

http://www.mining-journal.com/WMS_Magazine/pdf/WMS0802scr.pdf

[Ed Monton]

How about LAQ for 20 cents ?

[xio]

Diamond News

Pangea Opens Supply Road for its Congo Diamond Mines
By: PolishedPrices
16.01.08, 10:13 / Mining
http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=3054

SHAREHOLDER APPROVAL GRANTED FOR PROPOSED MERGER OF DIAMOND CORE AND BRC
16 January 2008
http://www.diamondintelligence.com/magazine/magazine.asp?id=5933

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La liste complète de nouveaux mandataires !

http://www.laprosperiteonline.net/affichage_article.php?id=4029&rubrique=La%20Une

Beaucoup de politiciens connus sont nommés comme Présidents des Conseils d’Administration. On les retrouve aussi comme ADG, ADGA, ADT et ADF. Certains anciens mandataires sont reconduits. Tout comme la plupart de ministres déchus de Gizenga I. Quelques Députés nationaux quittent l’hémicycle pour aller gérer au quotidien. Dans cette édition, les noms de tous les PCA, ADG, ADT et ADT ainsi que leurs entreprises respectives.
Ils auront battu le record du monde pour ce qui est de la gestion des affaires courantes.
Les mandataires sortants des entreprises publiques ont fait, depuis juin 2007, sept mois en assurant les affaires courantes. Ils ne pouvaient pas engager les entreprises qu’ils dirigeaient.
Pas de dépenses, pas de mouvement du personnel, bref ; tout a tourné au ralenti. La situation n’avait que trop duré.
Finalement, le samedi 12 janvier courant, Joseph Kabila, Président de la République, a pris la décision de procéder à de nouvelles nominations, définitives cette fois-ci. Kabila a ainsi nommé les membres des Conseils d’Administration et ceux des Comités de gestion. Dans son ordonnance, le Président de la République affirme avoir pris en compte les résultats des tests organisés, après avis d’appel à candidature, pour les postes de Délégué Général, Directeur Général Adjoint, Directeur Technique et de Directeur Financier pour 26 entreprises publiques. Joseph Kabila dit avoir aussi considéré les résultats des tests organisés pour les postes de Délégué Général Adjoint et de Directeur Financier pour la Société Nationale des Chemins de Fers du Congo (SNCC), l’Office National des Transports (ONATRA) et la Régie des Voies aériennes (RVA).
Ordonnance n°08/004 du 12 janvier 2008 portant nomination des membres des Conseils d’Administration des Entreprises Publiques
Le Président de la République ;
Vu la Constitution, spécialement ses articles 79, 81 et 93 ;
Vu, telle que modifiée et complétée à ce jour, la loi n°78-002 du 06 janvier 1978 portant dispositions générales applicables aux entreprises publiques, spécialement en ses articles 7, 9 et 17 ;
Vu, telle modifiée et complétée à ce jour, l’ordonnance n°07/017 du 03 mai 2007 portant organisation et fonctionnement du gouvernement ainsi que les modalités pratiques de collaboration entre le Président de la République et le Gouvernement ainsi qu’entre les membres du Gouvernement ;
Vu l’Ordonnance n° 07/018 du 16 mai 2007 fixant les attributions des Ministères ;
Vu l’Ordonnance n°07/071 du 25 novembre 2007 portant nomination des Ministres d’Etat, Ministres et Vice-ministres ;
Vu, telle que modifiée et complétée à ce jour, l’Ordonnance n°86-202 du 11 juillet 1986 portant statut des Présidents Délégués Généraux et des Délégués Généraux Adjoints des entreprises publiques ;
Vu, tel que modifié et complété à ce jour, le Décret n°136/2002 du 30 octobre 2002 portant création, organisation et fonctionnement du Comité de Pilotage de la Réforme des Entreprises Publiques, en sigle « Copirep » ;
Considérant la décision du Gouvernement prise en sa réunion du 11 mai 2007 relative à la mise en place de nouveaux mandataires après un test de recrutement organisé par le Ministère du portefeuille ;
Considérant les résultats des tests organisés, après avis d’appel à candidature, pour les postes de Délégué Général, de Délégué Général Adjoint, de Directeur Technique et de Directeur Financier pour 26 entreprises publiques ;
Considérant les résultats des tests organisés après avis d’appel à candidature pour les postes de Délégué Général Adjoint et de Directeur Financier pour 3 entreprises publiques placées sous contrat de gestion, à savoir : la Société Nationale des Chemins de Fer du Congo (SNCC), l’Office National des Transports (ONATRA) et la Régie des Voies Aériennes (RVA) ;
Sur proposition du Ministère du Portefeuille ;
Le conseil de Ministres entendu ;
Ordonne
Article 1er : Sont nommés membres des Conseils d’Administrations des entreprises publiques suivantes, aux fonctions reprises en regard de leurs noms, les personnes ci-après :

a) Secteur Mines

1. Office des mines d’Or de Kilo-Moto (Okimo)
Monsieur Tsakala Munikengi Télésphore : Président
Monsieur Bafoa Lifeta Willy : Administrateur Délégué Général
Monsieur Vahamwiti Mukesyayira Jean : Administrateur Délégué Général Adjoint
Monsieur Droma Ndowa Ferdinand : Administrateur Directeur Technique
Monsieur Makaba Mbumba Michel : Administrateur Directeur Financier
Madame Ebamba Boboto Jeanne : Administrateur
Madame Ekombe Ekofo Gertrude : Administrateur
Madame Nsuka Zi Kabwiku Yvon : Administrateur

2. Centre d’Expertise, d’Evaluation et de Certification des matières précieuses et semi-précieuses (CEEC)
Monsieur Lubamba wa Lubamba Alain : Président
Monsieur Mupepele Leonide : Administrateur Délégué Général
Monsieur Khonde Mazombe César : Administrateur Délégué Général Adjoint
Monsieur Amuri Tobakombee Daito Jean-Pierre : Administrateur Directeur Financier
Monsieur Ludunge Bagenda Banga Cyrille : Administrateur Directeur Financier
Monsieur Kazumba William : Administrateur
Monsieur Elembo Christophe : Administrateur
Monsieur Kibancha Kamala Faustin : Administrateur

3. Entreprise Minière de Kisenge Manganèse (EMK MN)
Monsieur Saidi Ra mazani : Président
Monsieur Tshawila Kahilukoji : Administrateur Délégué Général
Monsieur Tshibuyi Kalombo Marcel : Administrateur Délégué Adjoint
Monsieur Tshingamb Nguz Mwin Tshiluan : Administrateur Directeur Technique
Monsieur Ilunga Bunda : Administrateur Délégué Financier
Madame Kahinda Mayina Adèle : Administrateur
Madame Makombo Kamwanya Anne-Marie: Administrateur
Monsieur Pungwe Luamba Papy: Administrateur

b) Secteur Energie

1. Congolaise des Hydrocarbures (Cohydro)
Monsieur Tshibambe Ndjibu Zéphyrin : Président
Monsieur Yolo Yeli Jacques : Administrateur Délégués Général
Madame Kavira Mapera Jeannette : Administrateur Délégué Général Adjoint
Monsieur Vununu Di Makwala : Administrateur Directeur Technique
Monsieur Tshitenge Dibelayi Daniel : Administrateur Directeur Financier
Monsieur Okoko Utshi Djuhu : Administrateur Directeur Commercial
Madame Lomeya Atilite Béatrice : Administrateur
Monsieur Ndjibu Kasongo Raphaël : Administrateur
Monsieur Panamoya Ekopele Augustin : Administrateur

2. Régie de Distribution d’Eau (REGIDESO)
Monsieur Fumani Rombeau : Président
Monsieur Mukalayi Mwema : Administrateur Délégué Général
Monsieur Manzila Ngwey : Administrateur Délégué Général Adjoint
Monsieur Désiré Bagbeni : Administrateur Directeur Technique
Monsieur Ngalitsa Vanite : Administrateur Directeur Financier
Monsieur Manzebele Kokongo Cyrille : Administrateur
Madame Masika Yalala Dina : Administrateur
Monsieur Bonyoma Falanga Jacques : Administrateur

3. Société Nationale d’électricité (SNEL)
Monsieur Eugène Serufuli : Président
Monsieur Yengo Massampu : Administrateur Délégué Général
Madame Tokwaulu Aena : Administrateur Délégué Général Adjoint
Monsieur Lokala Y’Ifaso : Administrateur Directeur Technique
Monsieur Muhiya Lumbu Nicolas : Administrateur Directeur Financier
Monsieur Kioni Kuyengula Eddy : Administrateur
Monsieur Matala Claude : Administrateur
Monsieur Konde Vila Kikanda : Administrateur

c) Secteur Transport

1. Lignes Aériennes Congolaises (LAC)
Monsieur Bangala Basila Benjamin : Président
Monsieur Kyambale Kya Kikanda : Administrateur Délégué Général
Monsieur Irunt Awan Anaclet : Administrateur Délégué Général Adjoint
Monsieur Chérubin Okende Senga : Administrateur Directeur Technique
Monsieur Kibwe Kasongo Vincent de Paul : Administrateur Directeur Financier
Madame Ibangu Germaine : Administrateur
Monsieur Lenza Kisambu : Administrateur
Monsieur Diur Katond Gaspard : Administrateur

2. Régie des Voies Maritimes (RVM)
Monsieur Kashemwa Zirhayani’Irhi Désiré : Président
Monsieur Mbwinga Bila Robert : Administrateur Délégué Général
Monsieur Delma Mbo Sylvain : Administrateur Délégué Général Adjoint
Monsieur Vivila Makabi Nkobula-Mbundu Simon : Administrateur Directeur Technique
Madame Rugemaninzi Kadjuru Anastasie : Administrateur Directeur Financier
Monsieur Engwanda Pierre : Administrateur
Monsieur Kipulu Gymoni : Administrateur
Monsieur Ngandu Tshibola Rasse : Administrateur

3. Office National des Transports (ONATRA)
Monsieur Kahasha Guillaume : Président
(A Pourvoir) : Administrateur Délégué Général
Monsieur Basaula Ndombesi Serge : Administrateur Délégué Général Adjoint
(A pourvoir) : Administrateur Directeur Technique
Monsieur Elongam’Ea Mpongo Philippe : Administrateur Directeur Financier
Monsieur Mutokambali Luvanzayi Jean-Luc : Administrateur
Monsieur Chokwe Cembo Moise : Administrateur
Monsieur Beya wa Kabenga Jean : Administrateur

4. Société Nationale des Chemins de Fer du Congo (SNCC)
Monsieur Mbuyu Musombo André : Président
(A pourvoir) : Administrateur Délégué Général
Monsieur Lubanda Luesu Norbert : Administrateur Délégué Général Adjoint
(A pourvoir) : Administrateur Directeur Technique
Monsieur Mwamba Munkolonkoto : Administrateur Directeur Financier
Monsieur Shisso Kongolo Hyacinthe : Administrateur
Monsieur Musoka Donatien : Administrateur
Monsieur Mabongo Katembo Garry : Administrateur

5. Compagnie Maritime du Congo (CMDC)
Madame Kawanda Laure-Marie : Président
Madame Mawandji Masala : Administrateur Délégué Général
Monsieur Elesse Bokokoma Jean-Marie : Administrateur Délégué Général Adjoint
Monsieur Ngakuna Muanambu Ture Joseph : Administrateur Directeur Technique
Monsieur Lukasu Kamanda Daniel : Administrateur Directeur Financier
Monsieur Mbaya Jean : Administrateur
Monsieur Kambale Kalimumbali Dieudonné : Administrateur
Monsieur Isoyongo Lofete Loyangu Pius : Administrateur

6. Régie des Voies Aériennes (RVA)
Monsieur Mova Sakanyi Henri : Président
(A pourvoir) : Administrateur Délégué Général
Monsieur OKANA NSIAWI LEBUN Justin : Administrateur Délégué Général Adjoint
(A pouvoir) : Administrateur Directeur Technique
Monsieur Mwamba Sabiti Emmanuel : Administrateur Directeur Financier
Monsieur Kakudji Gaétan Gaétan : Administrateur
Monsieur Kikita Kafuti Jaal : Administrateur
Madame Matondo Kati Mayala Georgette: Administrateur

7. Régie des Voies Fluviales (RVF)
Monsieur Mukulungu Benjamin : Président
Monsieur Madika Kazadi : Administrateur Délégué Général
Monsieur Bando Sango Bernard : Administrateur Délégué Général Adjoint
Monsieur Mayele Yas’Nzoloko : Administrateur Directeur Technique
Monsieur Entuku Lokonga Richard : Administrateur Directeur Financier
Monsieur Dakahudino Lazare : Administrateur
Monsieur Malongo Bilamba Guy- Richard : Administrateur
Madame Maygende Bisika : Administrateur

d) Secteur Banques et Institutions Financières

1. Fonds de Promotion de l’Industrie (FPI)
Monsieur Kisanga Kabongelo Gaston : Président
Monsieur Mbengele Kwete Constantin : Administrateur Délégué Général
Monsieur Ilunga Ngoi Kasunka John : Administrateur Délégué Général Adjoint
Monsieur Omari Biladi : Administrateur Directeur Technique
Monsieur Simbi Musema Damien : Administrateur Directeur Financier
Madame Mutombo Ngoy Yvonne : Administrateur
Monsieur Tshime Pierre : Administrateur
Madame Museng Rov Anastasie : Administrateur

2. Office de Gestion de la Dette Publique (OGEDEP)
Monsieur Kisimba Ngoy Ndalewe Honorius : Président
Monsieur Lumbila Numbi : Administrateur Délégué Général
Monsieur Mathe Kombi Thomas : Administrateur Délégué Général Adjoint
Madame Izwe Modiri : Administrateur Directeur Technique
Madame Akonga Ambuheki Ekanga Marie-José : Administrateur Directeur Financier
Monsieur Masikini Adongba José : Administrateur
Madame Kamuyi Musawu Charlotte : Administrateur
Monsieur Kapuya Tshimankinda Venance Administrateur

3. Société Nationale d’Assurances (SONAS)
Monsieur Bitijula Mahimba : Président
Monsieur Mbonyo Lihumba Herman : Administrateur Délégué Général
Madame Agito Amela Carole : Administrateur Délégué Général Adjoint
Monsieur Mika Kibumbu Toussaint : Administrateur Directeur Technique
Monsieur Lukau Nkodi François : Administrateur Directeur Financier
Madame Manoka Nzuzi Marie-Ludovic : Administrateur
Monsieur Kasheta Nkulu Jean-Joseph : Administrateur
Monsieur KIssimba Lutemo Augustin : Administrateur

4. Institut National de Sécurité Sociale (INSS)
Monsieur Banza Mukalay Nsungu : Président
Madame Gerengbo Yazalo Marie-Thérèse : Administrateur Délégué Général
Monsieur Batoba Daniel : Administrateur Délégué Général Adjoint
Madame Mwad Nawej Katang Agnès : Administrateur Directeur Technique
Monsieur Tshovu Mwamba Anicet : Administrateur Directeur Financier
Monsieur Ilunga Ntumba Richard : Administrateur
Madame Asibu Hagi Alima Alphonsine : Administrateur
Monsieur Sekimonyo wa Magango Côme : Administrateur

5. Caisse Génénrale d’Epargne du Congo (CADECO)
Monsieur Mputu Bokenga Faustin : Président
Monsieur Mushi Mugumo Ferdinand : Administrateur Délégué Général
Madame Kalanga Kasesula Kathy : Administrateur Délégué Général Adjoint
Monsieur Asumani Kasanga Michel : Administrateur Directeur Technique
Monsieur Kalo Esongo Norbert : Administrateur Directeur Financier
Monsieur Nkolobise Esobe Joseph : Administrateur
Monsieur Matanda Mwidika Sébastien : Administrateur
Monsieur Bashala kantu wa Milandu Sylvain : Administrateur

e) Secteur Industriel

1. SOCIETE SIDERURGIQUE DE MALUKU (SOCIDER)
Monsieur Ruberangabi Sebinaza Enoch : Président
Monsieur Nkondi Mbaki Polycarpe : Administrateur Délégué Général
Monsieur Bulukungu Bera Kay Nicolas : Administrateur Délégué Général Adjoint
Monsieur Mudimbi Katanga : Administrateur Directeur Technique
Monsieur Mbumba Ngimbi Arthur : Administrateur Directeur Financier
Monsieur Kalonji Omar : Administrateur
Madame Justine Kerov : Administrateur
Monsieur Lapika Dimonfu Bruno : Administrateur

F) SECTEUR SERVICE

1. OFFICE CONGOLAIS DE CONTROLE (OCC)
Monsieur Diambwana Nestor : Président
Monsieur Kasongo Mukonzo Albert : Administrateur Délégué Général
Monsieur Kimasa Wolf : Administrateur Délégué Général Adjoint
Madame Bokabo Nkita Adrienne : Administrateur Directeur Technique
Madame Penge Sanganyoi Jacqueline : Administrateur Directeur Financier
Monsieur Mbala Kasanda Jean-Pierre : Administrateur
Monsieur Yuma Ramazani Raymond-Michel : Administrateur
Monsieur Bashige Burhihambwa Jovite : Administrateur

2. OFFICE DE GESTION DU FRET MARITIME (OGEFREM)
Monsieur Bumba Monga NGOY : Président
Monsieur Ngoy Kasongo Emile : Administrateur Délégué Général
Monsieur Kikwa Anathole : Administrateur Délégué Général Adjoint
Monsieur Andende Apindia Roger : Administrateur Directeur Technique
Monsieur Lekopole Nakwatangusaga Joseph : Administrateur Directeur Financier
Monsieur Upio Kakura Wapol : Administrateur
Monsieur Passi Zapamba Jean-Pierre : Administrateur
Monsieur J’emsi Mulengwa Jean Kevin : Administrateur

3. OFFICE NATIONAL DU TOURISME (ONT)
Monsieur Minsay Georges : Président
Madame Akatshi Osako Berthe : Administrateur Délégué Général
Madame Samba Lwanzo Rosette : Administrateur Délégué Général Adjoint
Monsieur Kayembe Ilunga : Administrateur Directeur Technique
Monsieur Bokoso Mbo : Administrateur Directeur Financier
Monsieur Dia Oken Ambel : Administrateur
Monsieur Bakatupidia Tshiyoyo Samuel : Administrateur
Monsieur Bwana Kazadi : Administrateur

g) SECTEUR FORMATION

1. Institut National de Préparation Professionnelle (INPP)
Monsieur Kiaku Mbuta Edouard : Président
Monsieur Tshikuya Kayembe : Administrateur Délégué Général
Monsieur Makina Robert : Administrateur Délégué Général Adjoint
Monsieur Nkongolo Badikila : Administrateur Directeur Technique
Monsieur Fumukeya Mandeki Béatrice : Administrateur Directeur Financier
Madame Meta Mutombo Mudiay Godeliève : Administrateur
Madame Bashomberwa Lalia Marthe : Administrateur
Monsieur Mwatshinumo Fedge Georges: Administrateur

h) SECTEUR COMMUNICATION

1. RADIO-TELEVISION NATIONALE CONGOLAISE (RTNC)
Monsieur Sango Nabina : Président
Monsieur Kipolongo Mukambilwa : Administrateur Délégué Général
Monsieur Kabila Ilunga Ernest : Administrateur Délégué Général Adjoint
Monsieur Mudilu Musa : Administrateur Directeur Financier
Monsieur Kayembe Muana Kayembe : Administrateur Directeur Commercial
Monsieur Mulunda Numbi : Administrateur
Monsieur Nkulu Mulopwe Bruno : Administrateur
Madame Biasala Marie-Thérèse : Administrateur


2. AGENCE CONGOLAISE DE PRESSE (ACP)
Monsieur Mbuyi Mualabala Albert : Président
Monsieur Longonya Okungu : Administrateur Délégué Général
Monsieur Kangundu Khossy Justin : Administrateur Délégué Général Adjoint
Madame Nyembo Feza Christine : Administrateur Directeur Technique
Monsieur Kadima Malemba Adolphe : Administrateur Directeur Financier
Monsieur Kakese Vinalu : Administrateur
Monsieur Milambo Ngongo Félicien : Administrateur
Madame Ebenga Bomolo Lydie : Administrateur
3. OFFICE CONGOLAIS DES POSTES ET TELECOMUNICATIONS (OCPT)
Madame Baderwa Chirezi : Président
Monsieur Muongo wa Shaba Hanga : Administrateur Délégué Général
Monsieur Bolenge Mokesombo Simon : Administrateur Délégué Général Adjoint
Madame Mulenda Omba Marie-Chantal : Administrateur Directeur Financier
Madame Nkanga Tembo Marie-Jeanne : Directeur des Postes
Monsieur Tembele Buku Jacques : Directeurs des Télécommunications
Monsieur Beya Kalamba : Administrateur
Monsieur Moussa Kalema : Administrateur
Madame Ayaki Andjadiumi Micheline : Administrateur
4. Régie Nationale de Transmission par satellite (RENATELSAT)
Monsieur Tshisol Yav Mwikeu : Président
Monsieur Achinda Wahilungula : Administrateur Délégué Général
Monsieur Kajangwa Banzi José : Administrateur Délégué Général Adjoint
Monsieur Ngandu Mazozo : Administrateur Directeur Technique
Monsieur Bokili Bolamba Augustin : Administrateur Directeur Financier
Monsieur Bosaga Sumaili : Administrateur
Monsieur Bella Mako Faustin : Administrateur
Monsieur Andeka Djamba Jean : Administrateur
5. Agence Nationale de Météorologie et de Télédétection par Satellite (METELSAT)
Monsieur Ketu Cirimwami Patient : Président
Monsieur Oyassase Okaku : Administrateur Délégué Général
Monsieur Mpundu Elonga Jean Pierre : Administrateur Délégué Général Adjoint
Monsieur Waku Mavakala : Administrateur Directeur Technique
Monsieur Musa Mbayo : Administrateur Directeur Financier
Monsieur Kasongo Sakadi Gilbert : Administrateur
Monsieur Muyumba Ndubula : Administrateur
Monsieur Ekam Wina : Administrateur

I SECTEUR TRAVAUX PUBLICS
1. OFFICE DES ROUTES (OR)
Monsieur Ngobila Mbaka Gentiny : Président
Monsieur Nsitu Vuvu Edgar : Administrateur Délégué Général
Monsieur Athigo Lofimbo : Administrateur Délégué Général
Adjoint
Monsieur Lobo Kwete Mingina Baudouin : Administrateur Directeur Technique
Madame Cishambo Barahakolerwa Martine : Administrateur Directeur Financier
Madame Selemani Emma : Administrateur
Monsieur Manwana Fidèle : Administrateur
Monsieur Kahenga Sompo Joseph : Administrateur

2. OFFICE DES VOIRIES ET DRAINAGE (OVD)
Monsieur Bukoko Madjumba : Président
Monsieur Busima Kataala Roger : Administrateur Délégué Général
Monsieur Wenga Basubi Benjamin : Administrateur Délégué Général Adjoint
Monsieur Kaoze Kitenge Pacifique : Administrateur Directeur Technique
Monsieur Tshimanga Tshamala Placide : Administrateur Directeur Financier
Madame Maweleka Mahunda Odette : Administrateur
Monsieur Kinyoka Kabalumuna Godé : Administrateur
Monsieur Mpungue Muitshika Matthieu : Administrateur

J) SECTEUR SCIENTIFIQUE
1. Institut National d’Etudes et Recherches Agronomiques (INERA)
Monsieur Ruhingigwa Baguma Araali : Président
Monsieur Mafuka Mbe-Mpie Paul : Administrateur Délégué Général
Monsieur Kindoki Ndoki : Administrateur Délégué Général Adjoint
Monsieur Mbikayi Nkonko Jean Albert : Administrateur Directeur Technique
Monsieur Mubembe Budwakali Martin : Administrateur Directeur Financier
Madame Musenga Tshiey Virginie : Administrateur
Monsieur Kikontwekampy Kamponbwe : Administrateur
Monsieur Ngbalindie Sassa Emmanuel : Administrateur

2. Institut National des Statistiques (INS)
Madame Iyamulemye Kabano Yvonne : Président
Monsieur Nyumbaiza Malungu : Administrateur Délégué Général
Monsieur Shweka Mutabazi Joffre Joseph : Administrateur Délégué Général Adjoint
Monsieur Bango Bango Sizukani : Administrateur Directeur Technique
Monsieur Balsomi Adapakwa : Administrateur Directeur Financier
Madame Mulimbi Agathe : Administrateur
Monsieur Umba Ilunga : Administrateur
Monsieur Nzita Ngomba Khonde Justin : Administrateur
k) Secteur Conservateur de la Nature
1. Institut Congolais pour la Conservation de la Nature (ICCN)
Monsieur Mobando Yogo Yves : Président
Monsieur Wilungula Cosma : Administrateur Délégué Général
Monsieur Idi Omari India : Administrateur Délégué Général Adjoint
Monsieur Kisuki Mathe Benoît : Administrateur Directeur Technique
Monsieur Embonga Mombenza Roger : Administrateur Directeur Financier
Madame Ndjoli Ekombe Gertrude : Administrateur
Monsieur Urom Warom : Administrateur
Monsieur Segbewi Zawu Jacques : Administrateur

2. Institut des Jardins Zoologiques et Botaniques du Congo (IJZBC)
Monsieur Ngwasi Akili-Mali Dieudonné : Président
Monsieur Shabani Kianzale Edmond : Administrateur Délégué Général
Monsieur Herady Issa Michel : Administrateur Délégué Général Adjoint
Monsieur Biya Munena Jacques : Administrateur Directeur Technique
Monsieur Wabenga Kyambikwa : Administrateur Directeur Financier
Monsieur Kambale Lusenge Jérôme : Administrateur
Monsieur Pero Mahopa : Administrateur
Monsieur Muhindo Kasole Alphonse : Administrateur

I) SECTEUR AGRICULTURE
1. OFFICE NATIONAL DU CAFE (ONC)
Monsieur Mulambu Mvuluya Faustin : Président
Monsieur Mukuna Kalenda : Administrateur Délégué Général
Monsieur Masamba Matemo Oscar : Administrateur Délégué Général Adjoint
Monsieur Lechuange Jean : Administrateur Directeur Technique
Monsieur Sona Efukam Jean Godefroid : Administrateur Directeur Financier
Madame Olela Louise : Administrateur
Monsieur Mamoud Seto : Administrateur
Monsieur Darwezi Apendeki : Administrateur

2. Caisse de Stabilisation Cotonnière (CSCO)
Monsieur Thewi Batsilary : Président
Monsieur Matembera Lwalalika François : Administrateur Délégué Général
Monsieur Omari Ramazani : Administrateur Délégué Général Adjoint
Monsieur Uhuku Mieme : Administrateur Directeur Technique
Monsieur Unema Shindano : Administrateur Directeur Financier
Monsieur Kayombo Sekesenu : Administrateur
Madame Nkulimba Lukuka Christine : Administrateur
Monsieur Musemena Gaston : Administrateur

m) SECTEUR COMMERCE
1. FOIRE INTERNATIONALE DE KINSHASA (FIKIN)

Monsieur Bwakoma Déo : Président
Madame Tambu Sudila Perpétue : Administrateur Délégué Général
Monsieur Kolomonyi Ndjibu Christoph : Administrateur Délégué Général Adjoint
Monsieur Kalala wa Tshamba : Administrateur Directeur Technique
Monsieur Kabukanyi Zilamaya Jean-Paul : Administrateur Directeur Financier
Madame Kashemwa Laini Nyota Stella : Administrateur
Monsieur Karhinda Katintima Barthélemy : Administrateur
Madame Ngalula Kalala Mamie : Administrateur

Article 2 : En ce qui concerne les entreprises publiques qui seront placées sous contrats de gestion, les Administrateurs Généraux Adjoints nommés ci-dessus assument l’intérim des Administrateurs Délégués Généraux qui seront proposés par les firmes prestataires des services.
Articles 3 : Sont abrogées toutes les dispositions antérieures contraires à la présente Ordonnance.
Article 4 : Le Ministre du Portefeuille est chargé de l’exécution de la présente Ordonnance qui entre en vigueur à la date de sa signature.

Fait à Kinshasa, le 12 janvier 2008

Joseph KABILA KABANGE

Antoine GIZENGA
Premier Ministre

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Gold in Congo

http://spilpunt.blogspot.com/2008/01/gold-in-congo-kinshasa.html

[Ed Monton]

La Quinta's Kampene assay results show gold anomalies


2008-01-08 11:57 ET - News Release

Mr. Malcolm Swallow reports

PROMINENT GOLD GEO-CHEMICAL ANOMALIES OUTLINED, SIGNIFICANT QUARTZ VEINING AND OLD WORKINGS SAMPLED ON KAMPENE GOLD PROJECT IN DRC

La Quinta Resources Corp. has now received all assay results on the soil geochemical survey of its 49-square-kilometre Kampene gold concession and has outlined several significant multikilometre-long and up-to-one-kilometre-wide gold anomalies. The Kampene concession is leased from AMIKI (Association Miniere du Kivu sprl) and is located in the Maniema province in the Democratic Republic of Congo. Kampene has a long history of extensive mineral production dating back to the 1940s and the Belgian era, when mineral production for gold, cassiterite and coltan formed the economic basis for the formation of the town of Kampene, complete with its airstrip, schools, churches and regional hospital.

A total of 453 individual two-kilogram soils samples were collected on a 400-metre by 200-metre regional grid covering the whole concession. The samples were sent by air through Kinshasa's airport to the ALS-Chemex lab facilities in Johannesburg, SA, for complete preparation and comminuting before gold testing by fire assay and for 48 other elements testing by acid digestion, using HCl leach followed by ICP-AES and ICP-MS analysis. A complete program of quality control and assurance is in place to ensure state-of-the-art reliability of the sampling and assaying program.

As can be visualized on the plan on the company's website, two main corridors of significantly anomalous gold values were discovered, one on the southwest portion of the property (containing anomalies E and F) showing a length of over three kilometres and a width of 500 metres with a repetitive pattern probably explained by folding of the rock formations. The other prominent corridor (containing anomalies A-B and C) is located in the east part of the property and extends over more than four km north-south and shows various widths up to 1,000 metres. These mineralized corridors will be explored by trenching and follow-up RC drilling within the next quarter of 2008.

In the fourth quarter of 2007, a series of 17 trenches were dug, mapped and sampled to test the first 11 of 20 Landsat structural anomalies reported in a satellite structural interpretation report carried out earlier in the year. Six additional trenches were dug to confirm the presence of gold mineralization in outcropping quartz veins and old colonial-related artisanal workings identified on the ground. Assays are still awaited for a total of 278 rock and chips samples currently in the laboratory, related to this phase of exploration.

The La Quinta Congo team is now established in the DRC, and is also ready to start gold exploration work on the adjacent 7,000-square-kilometre licence area covering the southern portion of the Twangiza-Namoya gold belt, working on licences owned by Wa Balengela Kasai-Investments Congo sprl, ("WB. Kasai, or WBK") La Quinta's Congolese partner. This partnership is the subject of a separate memorandum of understanding between LAQ and WBK and is currently awaiting final completion of binding legal agreements.

Michel Cormier, the company's president and chief operating officer, a geological engineer with long experience in successful gold exploration, both in North America and in French-speaking Africa, visited the property recently and acted as the qualified person in respect of the requirements of NI-43-101 for this press release.

[Ed Monton]

ARL

[xio]

resourceinvestor

http://www.resourceinvestor.com/pebble.asp?relid=39361

[xio]

MGL in Ambrian Top Picks for 2008

http://www.minesite.com/fileadmin/content/pdfs/Brokers_notes_Jan_08/Ambrian_Top_Picks_for_2008_-_January_2008.pdf

[xio]

Moto Goldmines with strong News end of 2007:

Moto Goldmines Increased Interest in Project

RNS Number:8014K
Moto Goldmines Limited
31 December 2007


FOR IMMEDIATE RELEASE TSX Code - MGL

December 31, 2007 AIM Code - MOE



MOTO GOLDMINES AGREES TO INCREASE INTEREST IN THE MOTO GOLD PROJECT AND TO
PLACEMENT TO SAM JONAH



PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto" or the "Company") is
pleased to announce that it has entered into agreements with its joint venture
partner, Societe d'Organisation, de Participation et de Management ("Orgaman")
in relation to the Moto Gold Project and with Sam Jonah, KBE, Chairman of the
Company, to the following effect:


* Moto will simplify its joint venture arrangements and increase its interest
in the Moto Gold Project to 70% by acquiring Orgaman's 10% interest for
aggregate consideration of approximately US$34.6 million, comprising 9,319,211
common shares in Moto (to be issued at C$2.93 per share) and a cash payment of
approximately US$7.5 million to repay shareholder loans made by Orgaman to
Borgakim Mining sprl ("Borgakim") and the other subsidiary companies through
which the Moto Gold Project is held, plus interest on the cash element from
signing to completion; and

* In conjunction with this acquisition, Mr Jonah has agreed to subscribe for
2,717,874 common shares in Moto at a price of C$2.78 per share to raise proceeds
of approximately C$7.6 million to demonstrate his ongoing support for the
Company and the Moto Gold Project.


Following the completion of these transactions, Moto will hold a 70% interest in
the Moto Gold Project. The remaining 30% is a non dilutive interest held by
L'Office des Mines d'Or de Kilo-Moto ("OKIMO"), a Congolese state-owned company.
Completion is expected to occur on or about 30 January 2008 and is subject to
receipt of required listing and regulatory approvals from the Toronto Stock
Exchange (the "TSX") and that successful application is made for the admission
of the new shares to the AIM Market of the London Stock Exchange ("AIM").


The Board believes that, by increasing its percentage holding in the Moto Gold
Project and reducing the number of parties to the joint venture arrangements, it
will be able to more rapidly progress the contractual arrangements required to
enable the development and financing of the Moto Gold Project.


Sam Jonah, Chairman of the Company, commented "I have confidence in the Moto
Gold Project and I am pleased to have the opportunity to show this by
subscribing for further shares to assist Moto in increasing its percentage
ownership of the Project. Having completed the feasibility study and increased
our interest in the Project we will be focussing on finalising the joint venture
arrangements with OKIMO so as to enable us to progress and develop the Project
in the interests of all stakeholders"


Acquisition of joint venture partner's interest in the Moto Gold Project


Moto and Orgaman currently hold their 70% interest in the Moto Gold Project
through their ownership of a number of Moto subsidiaries that are incorporated
in the Democratic Republic of Congo ("DRC"). Orgaman has agreed to transfer its
interests in those subsidiaries (comprising shares and shareholder loans) to
Moto for an aggregate consideration of approximately US$34.6 million comprising
9,319,211 common shares in Moto (to be issued at C$2.93 per share) and a cash
payment of approximately US$7.5 million to repay shareholder loans made by
Orgaman to Borgakim and to the other subsidiaries concerned. The cash portion
will bear interest at 8% per annum from signing to completion. The issuance of
the Moto common shares is conditional upon receipt of listing and regulatory
approvals from the TSX and that successful application for the admission of the
new shares is made to AIM.


William Damseaux and Jean-Claude Damseaux are the controlling shareholders of
Orgaman. As at today's date, they hold directly 570,290 Moto common shares and
Orgaman holds 1,166,000 Moto common shares for a total shareholding of 1,736,290
shares. Following completion of this transaction and the issuance of Moto common
shares to Mr Jonah described below, Orgaman, William Damseaux and Jean-Claude
Damseaux as a group will hold approximately 14.75% of Moto's then issued share
capital.


In assessing this acquisition, the Directors (other than Mr Jonah, who has not
taken part in the assessment) have valued the assets being acquired at
approximately US$34.6 million.


Pursuant to the November 2006 Protocol between Moto and OKIMO (announced by the
Company on November 8, 2006) Moto is to acquire certain debts owed by OKIMO to
Orgaman (the "OKIMO Loan") and the contractual arrangements between Moto and
OKIMO are to be further simplified into one agreement regarding the Moto Gold
Project (the "Consolidated Lease Agreement").


As part of the agreements announced today, Moto has formalised the documentation
to reflect its agreement with Orgaman to acquire the OKIMO Loan for a purchase
price equal to its face amount and accrued interest to date, of approximately
US$31.1 million (the "Assignment"). The purchase price will bear interest at 8%
per annum and will be paid to Orgaman as to US$10 million within seven business
days of the effective date of the Assignment, US$10 million on the first
anniversary of the effective date and the balance of approximately US$11.1
million and accrued interest on the second anniversary of the effective date.
Moto has also agreed to certain other protections for Orgaman if it abandons the
Moto Gold Project prior to payment in full to Orgaman.


The Assignment is conditional on the Consolidated Lease Agreement and the
Tripartite Agreement, referred to below, being entered into. As part of the
November 2006 Protocol, it was agreed that the OKIMO Loan would only be removed
from the books of OKIMO once an agreement (the "Tripartite Agreement") is
entered into among OKIMO, Moto/Borgakim and Orgaman confirming completion of the
assignment of the OKIMO Loan. Moto and Orgaman have agreed in the negotiation
of the Tripartite Agreement to seek the insertion of a clause that the OKIMO
Loan, less interest accrued during the force majeure period, being an amount of
approximately US$23 million as at today's date, is assumed by Borgakim.


Pending the Tripartite Agreement being entered into, Moto has agreed that
Orgaman will be granted a charge over an effective 10% interest in Borgakim or
the Moto DRC subsidiary that will hold the Consolidated Lease Agreement. If the
Tripartite Agreement is not entered into within 18 months, Orgaman will be
entitled to exercise the charge and become again involved in the management of
the Moto Gold Project, unless Moto pays the outstanding amount due to Orgaman
under the Assignment.


Moto has the option to pay up to 50% of any instalment of the purchase price for
the OKIMO Loan by the issuance to Orgaman of Moto common shares, subject to
receipt of regulatory approvals. The number of Moto common shares to be issued
will be determined by reference to the volume weighted average price of Moto
common shares on the TSX for the five trading days immediately prior to the
payment date converted to US dollars at the noon rate of exchange published by
the Bank of Canada on the last day of the five-day period.


If there is a change of control of Moto, all unpaid amounts due by Moto in
respect of the purchase price (together with accrued interest) will become
payable within seven days. If a change of control occurs before the
Consolidated Lease Agreement and the Tripartite Agreement become unconditional,
then Orgaman can require payment only upon the Assignment of the Okimo Loan
becoming effective.


Orgaman has agreed that for twelve months it will not dispose of the Moto common
shares issued to it pursuant to the above transactions without first offering
such shares to Mr Jonah and to Moto. Pursuant to applicable Canadian securities
laws, Orgaman will be restricted from selling any common shares issued in
connection with these transactions in Canada for four months, absent an
exemption from registration and prospectus requirements.


The Directors (other than Mr Jonah), having consulted with RFC Corporate Finance
Ltd, the Company's nominated adviser, consider that the terms of the
transactions with Orgaman are fair and reasonable in so far as its shareholders
are concerned.


Sam Jonah, KBE to increase his holding in Moto as a sign of ongoing support


Sam Jonah, KBE, Chairman and a Director of Moto, has agreed to subscribe for
2,717,874 Moto common shares at a subscription price of C$2.78 per share for
aggregate gross proceeds of approximately C$7.6 million (approximately US$7.5
million). The Company will use the subscription proceeds to make the cash
payments to Orgaman, as described above. The subscription is subject to all
regulatory approvals being obtained and to completion of the acquisition from
Orgaman of its interest in the Moto Gold Project, described above.


Mr Jonah has agreed that for twelve months he will not dispose of the Moto
common shares issued pursuant to this subscription, except pursuant to a
recommended takeover offer or plan of arrangement or a transfer approved by the
board of directors of Moto (such approval not to be unreasonably withheld).


Under his existing arrangements with Moto, Mr Jonah is entitled to be issued
options equal to 5% of any material share issuances by the Company. Mr Jonah has
waived his entitlement to be issued options in respect of his subscription for
shares but will be issued options to acquire 465,961 Moto common shares on
completion of the transaction with Orgaman, in accordance with Moto's stock
option plan. Following the issue of these options, Mr Jonah will hold an
aggregate of 3,559,600 options to subscribe for Moto common shares.


Immediately after the issuance of the common shares to Orgaman and Mr Jonah, Mr
Jonah will hold an aggregate of 2,717,874 Moto common shares representing
approximately 3.63% of the then outstanding Moto common shares. If Mr Jonah were
then to exercise all options currently held by him (including the options
referred to above), Mr Jonah would hold an aggregate of 6,277,474 Moto common
shares representing approximately 7.73% of what would then be the issued common
shares of Moto (without giving effect to the issuance of any other shares of
Moto pursuant to any other issued options).


The placement to Mr Jonah is conditional upon completion of the acquisition of
Orgaman's interest in the Moto Gold Project described above.


The Directors (other than Mr Jonah) consider, having consulted with RFC
Corporate Finance Ltd, the Company's nominated adviser, that the terms of the
subscription by Mr Jonah are fair and reasonable in so far as the its
shareholders are concerned.


GICC Consultancy Agreement


In order to expedite the progress of the Moto Gold Project, the Company has
engaged Generale Industrielle et Commerciale au Congo ("GICC"), a DRC-based
consultancy group, to assist Moto in obtaining the Consolidated Lease Agreement,
negotiating the documentation relating to the Moto Gold Project and obtaining of
all relevant government approvals and consents to enable the development of the
Moto Gold Project.


If such agreements and approvals are obtained within 11 months of engaging GICC,
Moto will pay GICC US$2 million and issue GICC 1,886,948 Moto common shares less
such number of common shares as have a value at that time equal to US$2 million,
based on the volume weighted average price of Moto common shares on the TSX for
the previous five trading days converted to US dollars at the noon rate of
exchange published by the Bank of Canada on the last day of the five-day period.
If, during the 12 months following completion of the services, the price of
Moto common shares on the TSX exceeds C$11.92 or C$15.90, a further 628,982
common shares will be issued to GICC on each such share price level being
exceeded as deferred compensation. If there is a change of control of Moto,
certain of the shares will be required to be issued even if the conditions and
thresholds have not been met, but the obligation to issue further shares shall
lapse.


For further information in respect of the Company's activities, please contact:


Mark Arnesen Andrew Dinning
Financial Director and Chief Financial Officer President and Chief Operating Officer
Tel: (61 Cool 9240 1377 Tel: (61 Cool 9240 1377
Email: [e-mail] Email: [e-mail]



Nominated adviser for the purposes of AIM: RFC Corporate Finance Ltd Contact:
Jamie Wright

[xio]

Magindustries very strong in 4 sectors, and google for INGA

MagForestry Signs Major Wood-Chip Sales Agreement
http://www.tradingmarkets.com/.site/news/Stock%20News/915692/


Canada’s Magindustries Rehabilitates Inga Project
http://www.thesouthernafrican.com/content/view/1790/32/

Canada’s Magindustries Rehabilitates Inga Project

Written by TheSouthernAfrican.com
Monday, 12 November 2007
When the giant Inga hydro-electricity power project began in the then Zaire in 1972, the anticipation was that its capacity to produce 1,775 Mega Watts of hydro electricity would be enough to supply the inevitably growing industrial and consumer power demand in southern and central Africa for many years to come. After a protracted civil war in the country, demand for electricity has surged indeed with the emerging interest in developing the vast mineral resources in the Katanga region yet both Inga Phases I and II (with 351 MW and 1,424 MW capacities respectively) are producing at less than 30% capacity, way below the needs of regional economies whose own domestic supplies are also falling short.

However, help is on the way, through a Public-Private Partnership (PPP) created by the Democratic Republic of Congo (DRC)’s power utility, SNEL and the Canadian energy and resources company, MagIndustries.

The PPP project, which began in the first quarter of last year, mandates MagEnergy (a subsidiary of MagIndustries), in Phase I, to refurbish elements of the Inga II plant at a cost of US$25 million and then in Phase II, to rehabilitate four of Inga II’s eight turbines to full capacity (712 MW) at a cost of US$110 million. Phase I will be completed in the first quarter of 2008 and Phase II will commence mid-year 2008 to finish by year-end 2011.

South Africa’s IDC is an equity partner with 30% in Phase I and 15% in Phase II.

According to MagIndustries’ president, William Burton, the refurbishment and rehabilitation work should result in the Inga power plants being able to meet the anticipated 800 MW power demand from the DRC’s Copper Belt in six years.

“In addition to that, there should be enough power to supply other needs in the country as well as for export to, primarily, South Africa and other regional economies like Zambia (which shares the mineral rich copper belt). International power demand exceeds supply and the gap is growing rapidly,” said Burton.

He added that for its current work at Inga, MagIndustries receives revenues of US$200,000 a month. After the first quarter of 2008, with the completion of its Phase I work, MagIndustries will recognize revenues on the sale of 84 MW per year for six years.

MagEnergy, as DRC’s first Independent Power Producer, is also actively interested in other power projects, including Busanga, the country’s second largest hydro site with a potential to produce 250 MW.

Pre-feasibility study is underway at Busanga, which is adjacent to the Katanga Copper Belt and can be readily connected to the South African power pool grid. Another project MagEnergy has interest in is the Zongo II site (100MW potential) where a “scoping study” is underway.

MagEnergy projects at Inga are expected to lead into an ambitious plan by a group of five African countries and their international backers who have explored plans to establish the world’s biggest hydro-power generator, the Grand Inga Project at an estimated cost of US$50 billion.

According to information sourced from SADC publications and sinkswatch.org, an environmental website, the proposed 39,000 MW Grand Inga project (double the current supply for all of Africa) would be a joint project by the governments of Angola, Botswana, DRC, Namibia and South Africa through a company called Western Power Corridor (Westcor) with financial assistance from various world renowned institutions. Planning is coordinated by the World Energy Council (WEC).

When completed, the project should supply power for the five countries with potential to export to other countries in the region, particularly Zambia and Zimbabwe which currently import power from neighbouring countries.

The Grand Inga Project is viewed as a long term solution to southern and central Africa’s power shortages and should support industrial expansion as well as stemming the usual environmental degradation caused by demand for traditional forms of power, wood and coal.

Prior to the construction of Grand Inga, an Inga Phase III (3,500 MW) would be considered for construction at a cost of US$5 billion.

Experts say that if fully developed the Inga site would be three times the power output of the Three Gorges Dam in China.

three times the power output of the Three Gorges Dam in China

three times the power output of the Three Gorges Dam in China

three times the power output of the Three Gorges Dam in China

three times the power output of the Three Gorges Dam in China

three times the power output of the Three Gorges Dam in China

[xio]

a very interesting timetable for Canaf:

1. Date of commissioning of the barge in Kisagani - January 8, 2008;
2. Date of production (estimated 7 days) - January 15, 2008;
3. Commencement of operations - January 16, 2008;
It is anticipated that results will be seen within the first 24 to 36
hours;
4. Average findings in respect of carats per tonne - approximately 21
days from such date in order to establish average tonnage.


http://biz.yahoo.com/ccn/071203/200712030429369001.html?.v=1

[xio]

most of all DRC-Stocks here:
http://www.dyor.de/congo-club/4.html

[xio]

2 new DRC companies

CANAF (TSX:CAF)
Namakwa Diamonds LSE:NAD

[Ed Monton]

DRC Government deplores mining commission leak
The furore over the leaked report on DRC mining contracts has prompted the country’s government to deplore the leak and affirm that, the great majority of mining companies currently in the DRC will remain in the country for the long term.

Author: Lawrence Williams
Posted: Tuesday , 06 Nov 2007

LONDON -

The Government of the Democratic Republic of the Congo (DRC) has issued a statement deploring the weekend leak of a preliminary draft of the Licence Review Commission's report which has created stock market turmoil for mine developers and operators in that country.

The Government statement reads as follows:

The DRC Ministry of Mines notes the recent speculation concerning the outcome of the Licence Review Commission.

The speculation is not based on any official document, but on a leak of an early draft from within the Commission. The government deplores the leaking of this draft and the uncertainty that it has understandably created.

Martin Kabwelula, the DRC's Minister of Mines, said this morning:

"The review process has been damaged by this grossly misleading leak of information, but the DRC remains determined to manage the license review responsibly and to the benefit of all responsible companies.

"It is expected that, after all irregularities have been corrected, the great majority of companies currently in the DRC will remain in the country for the long term. This has been and will remain the position of the government."

In essence this suggests that the views expressed by many of the mining companies named in the leaked report are, in fact, correct, although some companies will inevitably lose projects or find their contracts subject to renegotiation. Ultimately it is the Government which will decide which, if any, projects under way will be subjected to some kind of sanctions.

Some contract renegotiation is inevitable where existing terms may be seen as being overtly too favourable to the companies concerned, but overall those companies which are leading the redevelopment of the country's massive mineral riches, and which are on good terms with the government, should have little to fear.

The DRC Government is desperately keen to develop the country's huge mineral potential and it is in no-one's interest to create havoc among the mining investors with legitimate contracts.



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[Tackler]

Glad we got Roy...

it's unthinkable that the various DRC exploration concessions ... are anything but proper...
Similar positive comments can be articulated for First Quantum (FM.TO, C$93.95),
the most experienced listed miner on the adjoining DRC and Zambia copper belts.

[Ed Monton]

Behind the DRC mining contracts review

http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=39266&sn=Detail

[FL]

Congo shakedown: recommends 61 mine contracts "changed"

(Could this be a disguise for a Chinese takeover of Congo mining? Or just the "usual" African shakedown? See who gets the substitute contracts.... FL)

Congo panel to recommend 61 mine contracts be changed

A government panel in the Democratic Republic of Congo will recommend 61 of the nation`s agreements with mining companies, including Freeport-McMoRan Copper & Gold Inc, be renegotiated or cancelled, the group`s chairman said.

The commission will recommend that 38 contracts be changed, including those of Freeport and Nikanor plc, Alexis Mikandji, chairman of the commission for the review of mining contracts, said on November 2 in a telephone interview from Kinshasa. The panel will say 23 contracts should be cancelled, he said.

The DRC, which has about 10% of the world`s copper reserves and a third of its cobalt, established the panel in April to review all mining deals, with the aim of amending those deemed unfair to the state.

President Joseph Kabila is trying to attract investors to dig new mines and restart others abandoned during a civil war that ended in 2003, leaving 4 million dead and the country`s infrastructure destroyed.

"The review takes a hard line on the mining contracts, including those signed with major firms," Philippe de Pontet, African analyst at the Eurasia Group in Washington, said in an e-mail. "We expect that the Kabila administration will reject some, but not all, of the recommendations."

The commission divided the contracts into three categories: those that should be changed, those that should be canceled and those that should remain untouched, Mikandji said. None of the contracts reviewed are in the last category, he said.

The recommendations "will be discussed by the government before the state enterprises are given instructions what to do," Mikandji said. Martin Kabwelulu, DRC mines minister, said in March that no contracts would be cancelled.

The report will be reviewed by the Cabinet before state companies begin renegotiating elements of the deals with their private counterparts, Mikandji said October 22.

Other companies operating in the DRC, a country the size of western Europe, include Moto Goldmines Ltd, AngloGold Ashanti Ltd, BHP Billiton Ltd, Katanga Mining Ltd, First Quantum Minerals Ltd and Central African Mining & Exploration Co.

China said in September it would loan the DRC government US$5 billion, some of which will be used to fund a new joint venture mining company between the countries. Gecamines, the DRC`s state-owned copper producer, already owns stakes in each of the country`s copper and cobalt-producing operations concentrated in the southern Katanga province. "It will be interesting to see whether some of the canceled concessions are awarded to Chinese firms, in the wake of Beijing`s multi-billion dollar deal with the government," de Pontet said.

Bill Collier, a spokesman for Phoenix-based Freeport, declined to comment immediately when contacted by Bloomberg. Simon Tuma-Waku, DRC`s former mines minister and Nikanor`s chief strategy officer, couldn`t be reached for comment when called on his mobile phone in the DRC.

(Bloomberg, November 2)

[Ed Monton]

La Quinta locates two quartz veins on Kampene


2007-10-16 10:23 ET - News Release

Mr. Malcolm Swallow reports

LA QUINTA DISCOVERS TWO MASSIVE QUARTZ VEIN STRUCTURES ON ITS KAMPENE GOLD PROPERTY, MANIEMA PROVINCE IN CONGO-DRC

La Quinta Resources Corp. has provided the first results of its continuing exploration program on the Kampene exploration licence No. 4926 in the Democratic Republic of Congo. Work has been undertaken under a lease agreement with the Association Miniere du Kivu (Amiki SPRL) earlier this year. The work was carried by a team of four Congolese senior geologists led by a Swiss-born expatriate geological engineer. The team is supported by very efficient local workers, well trained in this rainforest environment.

The Kampene project covers 34.2 square kilometres and includes an exploitation licence for gold, silver coltan (colombite-tantalite) and tin (cassiterite). Kampene has a long history of extensive artisanal mineral production dating back to the 1940s and the Belgian era, when mineral production for gold, cassiterite and coltan formed the economic basis for the formation of the town, complete with its hydroelectrical power plant, airstrip, schools, churches and hospital.

After the first seven weeks of fieldwork on the Kampene licence, phase I of the program was recently completed, consisting of a regional soil sampling investigation aimed at identifying the hard rock sources of the alluvial mineralization mined in the past. This survey employed a grid of 400-metre-spaced N-S lines with a 200-metre interval for individual samples. A total of 453 two-kilogram samples were collected, shipped by air to Kinshasa and are on their way to the ALS Chemex laboratories in Johannesburg, South Africa, for preparation and multiple element assay determinations.

At the beginning of October, a phase II geological program was commenced. Phase II consists of the field verification of 20 structural anomalies interpreted through Landsat (land remote-sensing satellite) satellite imagery investigation complemented by geological mapping of the licence area. The dense equatorial forest with its thick top-soil cover and limited outcrop occurrence represents a very challenging work environment. This phase II was initiated in a hilly topographical environment. Here, a 220-metre-long and 20-metre-thick massive quartz vein structure was outlined. The continuous N-S-trending structure dipping at 80 degrees seems to be hosted by a blackish to greenish, silicified schist. The contact zone between the host rock and the vein is not visible in outcrop and both ends of the structure are still open in length, due to a shortage of easily visible outcrop. The distribution of quartz vein boulders in the valley below the structure tends to indicate that it is much longer than observed to date.

Additionally, a second vein structure with the same orientation has been detected 30 metres east of the first massive occurrence. This structure can be followed over an initial 50 metres and shows a thickness of two metres at surface. Up to now, no visible gold mineralization has been detected, but seven samples were taken perpendicular to the massive vein structure for analysis (sampling interval of three metres) and trenching of the primary and secondary structure continues. Further, the erratic schist blocks found in the environment of these structures contains signs of intense quartz carbonate stockwork veining. Results of assays are pending.

These quartz veins as well as the stockwork veining are an indication of intense hydrothermal activity probably triggered by a tectonically active zone in a high-stress regime. This activity could lead the host rock to burst and implement a higher permeability area of the system. The increase of permeability would allow mineralizing hydrothermal fluids to circulate impregnating the environment. The veins identified to date (large and small scale), as well as the silicified schist (alteration feature), are promising indications of a fluid-flow regime with the potential of being mineralized (vein mineralization as well as disseminated mineralization in the host rocks). This phase of investigation is still in progress and assay results will be reported immediately, as soon as available.

La Quinta Resources acquired the Kampene project in February, 2007 (see press release in Stockwatch dated Feb. 20, 2007) and has recently (see press release in Stockwatch dated Oct. 11, 2007) applied to the TSX Venture Exchange for approval to complete the acquisition of a contiguous group of 32 exploration licences, or permis de recherche, in Maniema and South Kivu provinces in southeastern DRC, covering about 7,010 square kilometres of the highly prospective Twangiza-Namoya gold belt. In addition, the company is working in Mexico on the Orofino project in Sonora state. A map showing the location and extent of the exploration leases, the company's adjacent Kampene exploration licence area, and the overall area's relationship to the Twangiza-Namoya gold belt plus further discussion of the initiative by La Quinta Resources in the Democratic Republic of Congo and its gold exploration work in Mexico can be found on the company's website.

Michel Cormier, the president and chief operating officer of the company, is a Montreal-based geological engineer with over 33 years of exploration, operation and management experience in the industry. He is also a registered professional engineer in Quebec, Canada, and acted as the qualified person for this news release, being responsible for the execution and supervision of the program. He recently visited the Kampene property and the company's Mexico operations.

We seek Safe Harbor.

[Ed Monton]

La Quinta set to close acquisition of Congo licences


2007-10-11 10:50 ET - News Release

Mr. Malcolm Swallow reports

LA QUINTA TO COMPLETE ACQUISITION OF 7,010 SQUARE KM GOLD EXPLORATION AREA IN DEMOCRATIC REPUBLIC OF CONGO

La Quinta Resources Corp. has today applied to the TSX Venture Exchange for approval to complete the acquisition of a contiguous group of 32 exploration licences, or "permis de recherche," in the Maniema and South Kivu provinces in the southeastern Democratic Republic of Congo, owned by Wa Balengela Kasai-Investments Congo SPRL (WBK), a Congolese mineral exploration and exploitation company and La Quinta's partner in the Democratic Republic of Congo. The licences held by WBK are for an area covering roughly 7,010 square kilometres of the highly prospective Twangiza-Namoya gold belt.

The properties in the WBK licence area have a long history of both formal and informal mining, having been extensively mined, mostly for alluvial gold, by Belgikaor from the early 1940s to the 1970s when formal mining and exploration ceased. At least six sites of previous mining can be easily identified on the WBK properties and artisanal mining continues on much of the target areas today. The agreement with WBK gives La Quinta the option to earn up to 80 per cent in a joint venture company with WBK, by financing $10-million (U.S.) in exploration expenditure over five years, with a minimum expenditure of $2-million (U.S.) per year. Assuming that the exploration work, which will concentrate on outlining the hard-rock gold sources of the earlier alluvial operations, is successfully concluded and the properties can be taken to feasibility-study status over the first five years of the agreement, then the joint venture will be entitled to develop the properties within the 7,010-square-kilometre exploration licence areas by converting them to an exploitation licence or licences, in accordance with the code and reglement minier of the DRC.

Malcolm Swallow, La Quinta's chairman, commented: "La Quinta has been working in Congo for some 12 months now and has successfully advanced its Kampene gold project obtained in May of this year. Simultaneously, we have assembled a team of expert geologists and support staff in Kinshasa and in Maniema province to move forward our projects. The completion of the 43-101 report and the victory of WBK in the courts in Congo have affirmed its rights to these projects and our rights to enter into the memorandum of understanding, first signed in August last year. While the legal debate in Congo has not ended and WBK continues to vigorously defend its rights to this property, we are confident in our partner's legal tenure over these projects and also in its right to enter into an agreement with us. The National Instrument 43-101 report completed by Wardell Armstrong International this September has further confirmed the value of this ground lying between Banro's Lugushwa and Namoya deposits. This 43-101 report will form a valuable reference document for the commencement of exploration over this extensive land package."

The properties to be acquired are considered to be highly prospective for gold, covering almost one-third of the well-defined Twangiza-Namoya gold belt and abutting and occupying almost all the ground between Banro Corp.'s Lugushwa and Namoya licences, two major gold exploration properties, then extending roughly 120 kilometres to the west to La Quinta's Kampene project. WBK's rights to these claims were first established under the prior Zairian mining code in 1997. WBK's right to enter into a JV with La Quinta, plus its tenure over a number of these licences, has been upheld by the Congolese courts and the government's mineral licensing office (the Cadastre Minier) in the DRC, and WBK has now received and has in its possession, the final and complete exploration licences, or "permis de recherche," for all 32 of the disputed claims, issued in late 2006 and early 2007. Further, WBK has received a written opinion from the college des juristes of the Ministry of Mines and the cabinet of the Cadastre Minier (the government authority that issues and manages mining licences in Congo) that these "permis de recherche" are clearly the property of WBK only. This decision was signed and acknowledged by the Minister of Mines of Congo on Feb. 24, 2007. As a consequence of these decisions and WBK's successful case in the Commercial Court completed on March 14, 2007, negating claims by Banro Mining Congo SPRL to have a prior accord with WBK, LAQ made the decision to recommence work on the appropriate National Instrument 43-101 report on the 32-claim licence area, which was finally completed in September, 2007, and is now posted on La Quinta's website and on SEDAR. The proposed acquisition of these licences was first reported in Stockwatch news on Aug. 28, 2006. Completion of this acquisition was subsequently suspended following Banro Congo Mining's claim that it had a prior agreement with WBK over the same property (see Stockwatch news on Oct. 23, 2006). On Oct. 18, 2006, Banro Congo initiated a court action in British Columbia, Canada, claiming that it had a prior agreement with WBK and that La Quinta's entering into the MOU amounted to wrongful interference. The suit in British Columbia has remained dormant pending the final disposition of the matter in the DRC.

WBK subsequently initiated legal action in the DRC against Banro Congo in Kinshasa. On March 14, 2007, WBK informed La Quinta that it had received a favourable judgement in the Commercial Court of the DRC. The Commercial Court at Kinshasa (DRC) refuted Banro Congo's claim that it held a binding agreement over WBK's licence area. The Commercial Court held that the prior protocol between WBK and Banro Congo signed in 2005 was not finalized, hence there are no obligations between WBK and Banro Congo and went on to award WBK $200,000 in damages plus costs. Banro Congo has appealed this decision to the Appeal Court in the DRC. In addition, Banro Congo has applied to the Supreme Court of Congo to have the ruling of the Commercial Court overturned and the Commercial Court president rebuked. Separately, WBK is an interested party with the Congolese government in a legal action brought by a third party against the Congolese government and the Cadastre Minier challenging the manner of the issue of licences during the period of force majeur. WBK continues to vigorously defend its legal position and its validly granted exploration licences.

Upon the commencement of the joint venture, La Quinta will hold a 10-per-cent interest in the joint venture company and WBK will hold a 90-per-cent interest. La Quinta shall have the right to increase its interest in the joint venture company to an 80-per-cent interest by making payments to WBK totalling $1.5-million (U.S.) and issuing eight million shares of La Quinta over the first three years of the agreement. Upon completion of all share issuances and cash payments, La Quinta will be vested with an 80-per-cent interest and WBK with a 20-per-cent interest in the joint venture company. One year after the signing of the agreement, WBK will also be entitled to nominate an additional member to the board of La Quinta. During the exploration period, ownership of the concessions shall remain vested with WBK and will be transferred to the joint venture company on completion of the feasibility study as contemplated in the MOU and formal documentation. WBK shall be responsible for assisting the joint venture company with government relations, social programs, local liaison and expediting of the projects in the DRC, for which it will be entitled to charge an appropriate fee. For any gold production, the joint venture company shall pay WBK a net smelter return of 2.5 per cent. La Quinta has agreed to pay a finder's fee in respect of the transaction in the amount of 550,000 shares payable by La Quinta in six instalments over the first three years of the agreement, all prorated and made at the same time as La Quinta is required to make share payments to WBK (all subject to exchange approval). There is an area of mutual interest established stretching 20 kilometres from the outside borders of any of the rights held in the joint venture company, which will encompass La Quinta's Kampene project, which will be rolled into the JV at cost.

A map showing the location and extent of the exploration leases, the company's adjacent Kampene exploration licence area, the overall area's relationship to the Twangiza-Namoya gold belt, plus further discussion of the initiative by La Quinta in the DRC can all be found on the company's website. It is expected that La Quinta and WBK will commence work on the licence area as soon as the acquisition process is completed. The completion of the proposed transaction remains subject to the approval of the exchange.

WBK is based in Kinshasa and holds extensive mineral leases in the DRC. WBK has exploration agreements with two major resource groups for diamonds and has been instrumental in introducing other companies into Congo for copper and cobalt. WBK's principals are Dr. F. Bodika, a Congolese thoracic surgeon, and J. Malaba, a Congolese businessman, both of whom have extensive experience in the mineral industry over the last 30 years.

Malcolm Swallow, a director of the company, is a Vancouver-based mining engineer (bachelor of science -- mining engineering -- Imperial College, London), with over 35 years of operating and management experience in the industry. He is an associate of the Royal School of Mines, a fellow of the Institute of Materials, Minerals and Mining, and a chartered engineer in the United Kingdom. He is also a registered professional engineer in British Columbia, Canada, and acted as the qualified person for this news release, having visited a number of the properties in the 7,010-square-kilometre WBK licence area.

We seek Safe Harbor.

[Ed Monton]

AFI getting ready to pop ?

[Ed Monton]

Affinor appoints Arcand, Pelletier, Nassif to board


2007-09-17 15:11 ET - News Release

Mr. Daniel Barrette reports

AFFINOR : CHANGES TO THE BOARD AND PRIVATE PLACEMENT

Affinor Resources Inc. has appointed Richard Arcand as a member of the board of directors. Mr. Arcand was approved as a control person at the annual and special meeting of shareholders held on May 18, 2007.

Mr. Arcand is a reverse takeover specialist and manager of mining work. He has an impressive background as a director of listed issuers especially in the mining exploration industry.

The company has also appointed Gary Nassif, MSc, PGeo, to the company's board of directors, in place of Gilles Provost who has resigned from the board.

Mr. Nassif is a geologist with more than 14 years of experience in gold, base metals and alluvial diamond exploration in sub-Saharan Africa, especially in the Central African Republic and in the Democratic Republic of Congo (Tshikapa area), and in Canada.

Also, Gaetan Pelletier is named member of the board and chief financial officer in place of Cynthia Edna delGadillo.

On behalf of the board of directors, Daniel Barrette, president of the company, thanks the departing members for their continued support throughout their tenure. Mr. Barrette adds: "Affinor is proud of the involvement of such experienced people as Mr. Arcand, Mr. Nassif and Mr. Pelletier. They represent an important complement to our team at a crucial time for the corporation given the scope of our projects."

The company is proceeding with a private placement through an offering memorandum. The company is offering a minimum of $100,000 and a maximum of $500,000 in units of $1,000. Each unit is made up 10,000 common shares at 10 cents and 10,000 share purchase warrants, with each warrant entitling the holder to purchase one common shares at 15 cents for up to 24 months.

Proceeds from the placement will be put toward general working capital requirements. This arm's-length transaction is subject to regulatory approval and a finder's fee may be paid according to industry standards.

[vanbrussel]

BRINKLEY MINING PDF-PRESENTATION AUGUST-31
? or July 17th as stated on website
(RNS 31/08/07: TVR 349,751,248 from today)

At last more news on Katangan projects, Shinkolobwe is well known
- DRC Resource drilling starts mid-DEC till MAY-08
- Final Resource statement MAY-08

DRC-Kalongwe:
- Copper-Cobalt deposit
- Exploratory drilling and mine development
- Mineralisation at 20m below surface
- >1,000ppm U3O8 maximum grade approx 10,000ppm

DRC-Mindigi:
- U3O8-Copper-Cobalt deposit similar to Shinkolobwe
- Historical drilling and trenching with grades up to 30,000ppm

South Africa- Waterval:
- Average 1,500cps (= approx 1,500ppm, readings between 500-6,000cps)
- Inferred Resource in Q3-2007 (drill program from JULY till SEP)
- Potential for 10-21M/lb U3O8* and 6-11M/lb Mo (Moly at $32.25/lb)
* Futures U3O8: JAN 08 = $80 JULY 08 = $85; DEC 08 = $85

-$30m Cash in hand (and not in ABS I hope)
*Nothing in this presentation on S-Sudan's intrusive pegmatites

http://www.brinkley-mining.com/investors/presentations.php

[vanbrussel]

Interview with Martin Kabwelulu

Yesterday's National-TV broad-casted a 15m interview with Minister Martin Kabwelulu which is available for download on the net.
(In French) By the way well-known Victor Kasongo is the deputy-minister

Four items in his interview, two of which we are interested in:

1. CORRUPTION WHITIN HIS ADMINISTRATION

- Lack of responsibility
- Administration should apply the Mining Code!
- Administration is supposed to work, not receiving bribes
- The very nasty habit of "Signing contracts with private companies and subsequently shredding these contracts within an hour", should end.

2. KATANGAN BORDERS TO BE BLOCKED AGAIN IN ONE MONTH'S TIME?

Mining sector is divided in two categories:
A-companies or the Treatment companies: from Mining to Concentrates
B-companies or the Transformation companies: from Mining or Concentrates to Metal

The message was that the A or Treatment companies were granted a last month for exporting concentrates;
warehouses with export material should be empty by then.
After that month - so from October onwards - Treatment companies are obliged to sell their concentrates to national Transformation companies.

Only Metals will be allowed for export. In a first phase this applies for copper and cobalt.
Later in time this will also apply for cassiterite and !diamonds.

----------------------------------------------------------------------------------------------------------------------------------------------------

Interview with Minister Kabwelulu from the 13min mark onwards:
And I have to say he makes a good impression; professional, dedicated.
http://www.africatime.com/rdc/
1. Select AfricaTV in the Multimédias section
2. Select Centrale (not Central) in Archives English news from....
3. Select Republique Dem. du Congo. Le journal télévisé de la RTNC from 24/08/5007 à 01h28 and click on play

[vanbrussel]

Copper in the Sudan

Was doing some DD on Brinkley BRM.L
As you probably know they are also looking for pegmatite intrusion related U3O8 in S-Sudan

First thing appeared googling was a PDF from GRAS =
The Geological Research Authority of Sudan

Seems like they have some good Cu (+2%) occurrences awaiting mining companies, first drilling was done in 1922-25 (LOL)
U.N.D.P Geological Survey Depart. 1971-1973 with 18 holes for 2200m estimated 10Mt @ 2.7% Cu

Base metal mineralization in Sudan was known since ancient times, as evidenced by archaeological discoveries of base metal furnace slags.
In the 18th Century natives from Darfur region used to smelt copper from Hofrat en Nahas area. In clay furnaces.
Russegger in 1838 stated that the locals obtained the ore, which was found in a pure native state, from a vein 2 feet beneath surface.
Base metals have been reported from nearly 70 places in Sudan.
A great number of these occurrences are closely related to the greenstone belts.
A brief account is given hereafter (PDF) for a few of those occurrences that had received more attention.
#7 on the map, close to the Central African Republic, or 800km N of Moto Goldmines

So, if ever, there isn't only oil!

http://www.gras-sd.com/products/bro_basematel.pdf

[Berliner]

We're Still Viable Despite Nickel Price Drop - BNC

BNC = MWANA

The Herald (Harare)
NEWS
17 August 2007
Posted to the web 17 August 2007
Harare

Bindura Nickel Corporation (BNC), the country's main nickel producer, said yesterday that it was still viable despite a sharp price drop for the commodity on the international markets in the last two months.

Nickel prices have retreated from highs of US$50 000 per tonne two months ago to around US$29 000 a tonne now, a tumble suspected to have been caused by mass offloading of stocks by some big international merchants.

BNC managing director, Mr David Murangari said the price drop was expected to be temporal, and forecast nickel prices to start firming later in the year.

But he said even at current price levels, BNC was operating viably and could comfortably absorb a further drop to around US$25 000 per tonne. This was, however, unlikely as demand in key nickel markets such as China and India remained strong and growing.

"The price has gone down a bit but we are okay here. I think most producers are still okay, besides this is a temporal dip that we are experiencing," he said.

Mr Murangari said the company, which operates nickel mines in Bindura and Shangani, expected to producer 6 500 tonnes of the commodity this year.

He said output was expected to start rising from next year when two shaft deepening projects, to allow the company to access ore at deeper levels, are completed.

BNC is investing around US$10 million in the projects being carried out at both Binduara and Shangani mines.

This will be further boosted in the first half of 2009 when BNC's US$100 million Hunter's Road project near Kwekwe comes on stream.

The company expects to be in prodWe're still viable despite nickel price drop: BNC

Bindira Nickel Corporation (BNC), the country's main nickel producer, said yesterday that it was still viable despite a sharp price drop for the commodity on the international markets in the last two months.

Nickel prices have retreated from highs of US$50 000 per tonne two months ago to around US$29 000 a tonne now, a tumble suspected to have been caused by mass offloading of stocks by some big international merchants.

BNC managing director, Mr David Murangari said the price drop was expected to be temporal, and forecast nickel prices to start firming later in the year.

But he said even at current price levels, BNC was operating viably and could comfortably absorb a further drop to around US$25 000 per tonne. This was, however, unlikely as demand in key nickel markets such as China and India remained strong and growing.

"The price has gone down a bit but we are okay here. I think most producers are still okay, besides this is a temporal dip that we are experiencing," he said.

Mr Murangari said the company, which operates nickel mines in Bindura and Shangani, expected to producer 6 500 tonnes of the commodity this year.

He said output was expected to start rising from next year when two shaft deepening projects, to allow the company to access ore at deeper levels, are completed.

BNC is investing around US$10 million in the projects being carried out at both Binduara and Shangani mines.

This will be further boosted in the first half of 2009 when BNC's US$100 million Hunter's Road project near Kwekwe comes on stream.

The company expects to be in production at the new mine, where vast nickel reserves have been found, after next year.

[Berliner]

Tullow Oil's Congo Exploration Pact to Be Canceled
http://www.bloomberg.com/apps/news?pid=20601102&sid=aCCJSuskuAgY&refer=uk

By Franz Wild

Aug. 17 (Bloomberg) -- Tullow Oil Plc's exploration contract in the Democratic Republic of Congo will be canceled after the government found irregularities in the agreement, said Hydrocarbons Minister Lambert Mende. Tullow's stock fell.

Tullow said the agreement was valid and legally binding and offered to double its signing bonus as a gesture of goodwill. The London-based company and Canadian partner, Heritage Oil Corp., have been awaiting a decree from Congo's President Joseph Kabila to allow them to start drilling on two blocks on Lake Albert on the Ugandan border.

``Tullow received a letter from me on July 25 saying I can't present the dossier unless we've addressed the irregularities in the contract,'' Mende said today in an interview in the capital, Kinshasa.

Since taking office in March, Congo's new government has made efforts to clamp down on corruption in the mineral-rich, central African country. Foreign investment in Congo has been growing after seven years of civil war, which left 4 million people dead, ended in 2003. The country produces 25,000 barrels of crude oil a day from fields off its coast.

Tullow's shares fell 11.25 pence, or 2.6 percent, to 421.75 pence on the London Stock Exchange at 3:25 p.m. local time.

Mende said the July 2006 contract signed by Nicolas Bandingaka, a vice-minister, was done against the will of the minister at the time. It provided for payment for only one of the two blocks and didn't follow ``international standards'' for the tenders, Mende said. The tender was published in only one local newspaper, he added.

Contract Rights

``The government reserves the right to negotiate'' a contract on the second block, Mende said in a letter shown to Bloomberg News.

Bandingaka, who signed the agreement, was legally entitled to do so as the minister was absent a lot during the signing, Tim O'Hanlon, Tullow's vice president for African business, said in an interview from London today. The signing bonus of $500,000, the fee agreed to for both blocks, was paid, as specified in the contract, he added.

Tullow also secured signatures of the then finance minister and Cohydro, the state-owned oil company, O'Hanlon said. It was Congo's responsibility to ensure correct tender procedures were followed, he said. The same procedure was followed in the signing of all oil contracts negotiated by Congo in recent years, he added.

Contract

``In my letter to the president last week, I said Tullow was prepared to raise its signing bonus to $1 million,'' O'Hanlon said.

The contract gave Tullow 48.5 percent of the Block I and II concessions on Lake Albert, which cover about 6,500 square kilometers (2,509 square miles), while Heritage has 39.5 percent and state-owned oil company Cohydro the rest. Lake Albert is on Congo's eastern border.

Tullow owns all of one block on the Ugandan side of the lake, and has a 50 percent share in two blocks operated by Heritage. The company found crude oil in all of the seven wells it drilled there last year, including the first discovery in Uganda.

[Berliner]

he, das darf doch nicht wahr sein.. aber zack zack zack

http://board.dyor.de

denk an das fax

[vanbrussel]

Sag mal Makkaroni, läuft das Board? Soll ich mich registrieren?
Regards Vanbrussel

[Berliner]

ELM Interview

http://www.dyor.de/content/view/9/4/

[Berliner]

.... look at:

TSX AFI Market Cap ultra low
News are nice,,, but no website... is this company / management serious????????????

or under control of israeli diamond-connection???