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Aoi halted in Sweden:
AFRICA OIL TRADING STOPPED UNTIL FURTHER NOTICE (Bloomberg) Print
2012-10-31 08:48
(Bloomberg) The Exchange has decided to stop the trade Africa Oil suspended in connection with Wednesday's opening at 9:00 am.
It is a message from the Stockholm Stock Exchange.
AFRICA OIL HAS FOUND OIL TWIGA - MEDIA (NY)
2012-10-31 07:41
(Appendix: from sixth paragraph)
(Bloomberg) Africa Oil and Tullow Oil has encountered oil at the Kenyan cockpit Twiga South.
The reported businessdailyafrica.com on Tuesday evening.
The well should have resulted in a more than 30-meter oil column, according to the site.
License 13T, where Twiga-well located, owned in equal parts by Tullow and Africa, with Tullow as operator.
Results from Twiga-drilling is expected, according to previous messages from Africa Oil, in the early or mid-november.
Tullow expects greater quantities of oil in the Twiga than the nearby well Ngamia-1, where oil is found in the spring, writes the site with reference to persons within the Tullow and the Kenyan Ministry of Energy.
The extent and quality of the reservoir remains to be determined.
Robert Eriksson, spokesperson of Africa Oil, would not comment on details of the News Agency Direkt on Wednesday morning.
"We do not comment on rumors and speculation such as these. Efforts drilling of the well Twiga South-1 continues and we and our partner Tullow is expected to present the results from this drilling in mid-november," he says.
Received this from AOI this am.
Good morning!
Please find enclosed a news release issued this morning. If you have any questions or require further information, please do not hesitate to call.
Best regards,
Sophia Shane
Ph. 604 689 7842
AFRICA OIL COMPLETES FARMOUT WITH NEW AGE
AND TWIGA UPDATE
October 26, 2012 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to report that it has completed the previously announced (July 23, 2012) farmout agreement with New Age (African Global Energy) Limited (“New Age”) whereby New Age acquired an additional 25% interest in Africa Oil’s Blocks 7 & 8 in Ethiopia, together with operatorship of Blocks 7 & 8 and the Adigala Area. In consideration of the assignment of the interest New Age paid Africa Oil $1.5 million in consideration of past costs. Following the completion of the New Age farmout transaction, the resulting interest in Blocks 7 & 8 will be as follows:
Blocks 7 & 8
Africa Oil 30%
New Age 40% (Operator)
Afren plc 30%
Keith Hill, Africa Oil’s President and CEO, stated, “We are very pleased to have completed this farmout to New Age, an existing partner in our Ethiopian exploration program. We look forward to working together to expand on the success we have had in our East Africa exploration program to date. Africa Oil looks forward to commencing drilling operations in Ethiopia, with the Sabisa-1 well which is planned to be spud before the end of the year in the South Omo Block. Tullow Oil plc (“Tullow”) holds a 50% working interest and operates the South Omo Block with Africa Oil holding the remaining 50% interest. East Africa is rapidly becoming the most prospective oil and gas province in the world and the large, strategic land portfolio we hold ensures we will be at the center of industry activity.”
In addition, the Company reports that it expects to announce drilling results from the Twiga South-1 well, currently being drilled in Block 13T, in early to mid-November. Announcement of these results has been slightly delayed due primarily to minor mechanical issues on the drilling rig, which have now been addressed. The well is now drilling ahead. The Twiga South-1 well is operated by Tullow. Africa Oil and Tullow each hold 50% working interests in the block.
Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Mali as well as Puntland (Somalia) through its 45% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Albert Graben oil discovery in neighboring Uganda. Africa Oil’s recent Ngamia-1 discovery extends the Albert Graben play into Kenya where Africa Oil along with partner Tullow holds a dominant acreage position. Newly acquired seismic and gravity data show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".
Here is the complete article. from another message board
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31702509&l=0&r=0&s=AOI&t=LIST
oops the following is what he said.
highlights African Petroleum Corp (NSX:AOQ), Chariot Oil & Gas (LON:CHAR) and FAR (ASX:FAR) as all trading at roughly half his estimate of their fair value. In contrast, he says African Oil Corp (TSX:AOI) ‘appears overvalued given the risk that the rift basins of Kenya and Ethiopia will not prove as prolific as Uganda’s Lake Albert Rift Basin’.
Is this guy for real.
Rob St George, 26 October 2012
Who ever the above analyst is not high on AOI
Oil
2 hours ago - ACQUIREMEDIA
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI) (OMX:AOI) is pleased to announce that it has completed the Kenyan portion of the previously announced (July 23, 2012) farmout agreement with Marathon Oil Corporation ("Marathon Oil") whereby Marathon Oil acquired an interest in two of Africa Oil's Kenyan exploration blocks.
Under the terms of the farmout agreement, Marathon Oil acquired a 50% interest in Block 9 and a 15% interest in Block 12A, both in Kenya. Africa Oil will maintain operatorship in Block 9, but Marathon Oil has the right to assume operatorship if a commercial discovery is made. The resulting interest in the Kenyan exploration blocks are as follows
Interesting from Cannacord I believe most of that info can be seen on Sept's presentation from Africa Oil's web site.
Nice close on the day $10.28 AOI.V
10.28CAD0.40(4.05%)
Thanks for all your posting JB3729.
Long and holding AOI
From another message board.
From Tullow BB - about AOI
overall quality
Posted courtesy of leycrjb99:
AFRICA OIL CORP - KEY TAKEAWAYS FROM THE SITE VISIT TO KENYA
· Africa Oil is hosting an analyst and investor site visit to Kenya this week. We continue to see Africa Oil as one of the highest impact exploration stories in European E&P. We highlight our key takeaways from the site visit below:
· Focus on de-risking the Lokichar Sub-Basin - Africa Oil and Tullow are currently drilling the Twiga South prospect, which lies on trend with the Ngamia discovery. Management did not give an interim update on the well preferring to wait until drilling operations are complete towards the end of October. A discovery at Twiga South would further de-risk the Lokichar sub-basin, which is of a similar size to the Albert Graben in Uganda that contains c. 2bn bbls of oil.
· Active drilling programme over the next 18 months - Africa Oil plans to drill between 10-12 wells over the next 18 months with 3 rigs operating across their acreage position in Kenya/Ethiopia. However, Tullow could move rigs in from Uganda if there is further exploration success. In addition to the Lokichar sub-basin campaign, Africa Oil plans to target the Cretaceous rift in Block 10A at Paipai (currently drilling) and the extension of the Tertiary rift in South Omo (December spud). We include SEK72/share risked for this 18-month drilling campaign in our base case NAV of SEK95/share, but unrisked believe it could be worth up to SEK181/share.· Upside potential at Ngamia - The recent Gaffney Cline independent resource report estimated the Ngamia discovery at 188m bbls (split between contingent resources of 51m boe and prospective resources of 137m boe), broadly in line with our risked estimate of 200m bbls in our base case NAV of SEK 95/share. With only 1 well drilled into the Ngamia structure, further appraisal activity is needed to confirm the full potential of the discovery. However, if the 100m of net pay discovered in the upper Lokhone reservoir section at Ngamia-1 extends across the structure, management believes the prospective resource estimate of 137m boe could double to 274m boe. We include SEK20/share risked for Ngamia in our base case NAV of SEK95/share, but unrisked think it could be worth up to SEK27/share.
· Wide range on resources needed to underpin a commercial development - Africa Oil estimates a resource range of 400-500m bbls is required to underpin a stand-alone development project (Tullow has suggested 300-500m bbls). It remains early days, but one of the key uncertainties remains the flow rates that can be achieved from the Lokichar sub-basin. If a discovery is made at Twiga South, we would expect this well to be tested with drilling equipment now on site and will hopefully provide more certainty on well productivity. In addition, the commercial threshold would be greatly reduced towards 100m bbls (according to Africa Oil) if a Kenyan oil project was developed in conjunction with Tullow's Ugandan development (which requires an export pipeline) or as part of a regional pipeline infrastructure project
From CD morning coffee.
Africa Oil* (AOI : TSX-V : $9.52), Net Change: -0.17, % Change: -1.75%, Volume: 425,160
Attention, everyone: Paipai. That is all. Africa Oil announced that it has spudded its Paipai-1 exploration well in Block 10A
onshore Kenya. The well is planned to drill to a total depth of 4,112 m and will test Cretaceous and Jurassic sandstone targets.
The well is operated by Tullow Oil, who hold a 50% working interest. AOI holds a 30% working interest in the Block, while
Afren PLC holds the remaining 20%. Elsewhere in Kenya, the company and its partner Tullow continue drilling operations at
the Twiga South-1 well site located in Lokichar sub-basin onshore Block 13T and results of this well are expected before the
end of October. AOI also announced that in onshore Ethiopia, Tullow is finalizing plans to mobilize the OGEC-75 rig for the
exploration drilling campaign that is planned to commence with the Sabisa-1 well in the South Omo Block near the end of this
year. The announcement of the spudding of the company’s Paipai-1 well appears to be earlier than the market anticipated, as
most thought the well would spud in late October.
PAIPAI-1 EXPLORATION WELL SPUDS IN ONSHORE KENYA
October 1, 2012 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce the spudding in Kenya of the Paipai-1 exploration well located in onshore Block 10A, on September 29, 2012. The well is planned to drill to a total depth of 4,112 meters and will test Cretaceous and Jurassic sandstone targets. The well is operated by Tullow Oil plc (“Tullow”) who hold a 50% working interest. Africa Oil holds a 30% working interest in the Block. The Paipai-1 will be drilled using the Sakson PR-5 rig and is targeting gross best estimated prospective resources of 121 million barrels by the Company’s independent resource evaluator.
Elsewhere in Kenya the Company and its partner Tullow continue drilling operations at the Twiga South-1 well site located in Lokichar sub-basin onshore Block 13T and results of this well are expected before the end of October. In onshore Ethiopia, Tullow are finalizing plans to mobilize the OGEC-75 rig for the exploration drilling campaign that is planned to commence with the Sabisa-1 well in the South Omo Block near the end of this year.
Keith Hill, President and CEO of Africa Oil, commented, “The Paipai well will test Cretaceous and Jurassic targets in the Anza graben, whose geologic history is comparable and on trend with producing basins of Sudan. Paipai-1 will test a large structural trap in what is considered to be an oil-prone area of the Anza basin. Legacy wells have encountered significant oil and gas shows, but newly acquired seismic surveys have helped improve mapping and identify the Paipai prospect as a favorable and potentially high-impact exploration target. A discovery at Paipai would extend the producing plays of Sudan into Kenya and open a potentially significant and new petroleum province within Kenya where the Company is already implementing an accelerated exploration program after the Ngamia-1 discovery in the Tertiary Rift Play earlier in the year. With plans in place for three drilling rigs to be operational before the end of the year, the Company is entering an exciting period of activity with multiple high impact exploration targets expected to be drilled before the end of 2013.”
Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Mali as well as Puntland (Somalia) through its 45% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Albert Graben oil discovery in neighboring Uganda. Africa Oil’s recent Ngamia-1 discovery extends the Albert Graben play into Kenya where Africa Oil along with partner Tullow holds a dominant acreage position. Newly acquired seismic and gravity data show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".
This from earlier posting July 1st/2012 Stockhouse board.
Africa Oil Corp.
I contacted her and asked the Q about the validity of the N1 Reuters article... Anyway, her response. It was alos posted on the AOI iii BB. Anyway...... from the mouth of AOI.
Good afternoon!
I have not been advised if we have actually encountered a “geological formation” or if we have reached total depth now. But even if we have, it does not change what we have announced about the well. We are currently testing that nice lower zone we announced earlier and results will be available in the next week or two (along with the other zones as well of course). Please remember that if there were any concerns about the well that changed our outlook or its potential, we would put out a press release. That Reuter’s article is a jumble of statements that don’t really make sense and actually don’t say anything. The operations team will choose to TD when they think it is appropriate – if they have chosen to TD it doesn’t mean that all is lost or that there is a big problem as the dozens of emails I’ve received suggest has happened – it is simply that they have chosen to TD. Nothing has changed with the potential pay zones we have announced.
Best regards,
Sophia
Should move back up to .60 looking ahead 3 to 6 months.
RJ.
Press Release
Brilliant Mining Corp.: Ore Deliveries Unaffected Lanfranchi Nickel Mine, Kambalda District, WA
Monday June 16, 11:51 am ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2008) - Brilliant Mining Corp. (TSX VENTURE:BMC - News; "Brilliant" or the "Company") wishes to advise that the recently announced disruption to both the gas supply in Western Australia (WA) and BHP Billiton's nickel smelting operations at Kalgoorlie should not result in any business interruption for the Company's 25% owned high-grade Lanfranchi Nickel Mine, Kambalda District, Western Australia.
Electricity at Lanfranchi is supplied and distributed under contract from BHP Billiton. BHP Billiton has advised the Company that the supply of electricity to the Lanfranchi Mine is unlikely to be affected as a result of the current disruption to the gas supply.
BHP Billiton announced on 12 June 2008 that as a result of a deterioration of the Kalgoorlie Nickel Smelter furnace it would be bringing forward a planned furnace rebuild. The duration of the rebuild is estimated to be approximately four months. During this period the Lanfranchi Mine will continue to deliver ore to BHP Billiton's Kambalda Concentrator and BHP Billiton has advised the Company that at this stage it does not foresee that ore deliveries to the Kambalda Concentrator will be affected.
On behalf of the Board of Directors
Yep time to reload.
Waiting for the deeps
Looking good:BMC (CDN) as of 01 Feb 2008 at 10:06 AM EST
Last Price: 1.22 CAD
Market: CA
Change: +0.12
Last Traded: 01 Feb 2008 at 10:02 AM EST.
Tick:
Bid / Size: 1.22 / 100
Ask / Size: 1.25 / 89
Open: 1.14
Previous Close: 1.10
Annual Dividend: 0
Ex Dividend Date: N/A
Earnings: -0.23
Yield: 0.00%
P / E Ratio: 0.00
Beta: 1.57
Shares Out (Thousand): 68,772
Volume: 177,000
Average Volume: 467,729
Day High / Low: 1.25 / 1.14
52-Week High / Low: 2.90 / 1.00
View Full Page Chart: 1 day 5 day 1 month
3 month 6 month 1 year
Analyst Consensus:
BMO Nestbitt locked in 1.30/1.35 appears to be just about the only buyer for the last couple of weeks.
Brilliant Mining Corp.: 5.4% Ni Delivered from Winner During First Month Production, Lanfranchi Nickel Mine, Kambalda District of Western Australia
Marketwire
Brilliant Mining Corp.
November 29, 2007 - 08:01:44 AM
Brilliant Mining Corp.: 5.4% Ni Delivered from Winner During First Month
Production, Lanfranchi Nickel Mine, Kambalda District of Western Australia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant" or the "Company") today reported that the
first month of deliveries from the high-grade Winner ore body totaled 4,670
tonnes of ore grading 5.37% Ni. In October, the Winner ore body contributed
40% of the total ore delivered, setting a new record for Ni metal delivered in
one month from the 25% owned Lanfranchi Nickel Mine, located in the world
class Kambalda Nickel District of Western Australia.
Key Point Summary:
- Winner ore deliveries total 4,670 tonnes of ore grading 5.37% Ni for 251
tonnes of Ni metal
- Winner represents 40% of Ni metal deliveries from 21% of ore deliveries
- Winner was a major contributor to a record one-month Ni metal ore deliveries
from the Lanfranchi Mine for October which totaled 22,680 tonnes of ore
grading 2.75% Ni for 623 tonnes of Ni metal
- Winner ore production commenced October 14, 2007
"The significant contribution from the high-grade Winner orebody in its first
production month provides an indication of the potential that can be achieved
through ramp up," states John Williamson, CEO of Brilliant Mining. "In
addition to bringing Winner on-stream, the Deacon orebody is scheduled to be
in production early next year and is projected to provide an even greater
impact."
October Production
The Lanfranchi JV delivered 22,680 tonnes of ore with an average grade of
2.75% Ni for 623 tonnes of Ni metal for the month of October 2007. Ore
production from the high-grade Winner orebody commenced on October 14, 2007
contributing 4,670 tonnes of ore grading 5.37% Ni for 251 tonnes of contained
Ni metal. This represents 40% of the total Ni metal derived from only 21% of
the ore tonnes delivered.
Table 1 - Lanfranchi Mine October Ore Deliveries by Source - 100%
Basis (i)(ii)
-------------------------------------------------------------------------
Ore Ni % of
Delivered Grade Ni Metal Ni Metal Ni Metal
Orebody (DMT) (%) (Tonnes) (Lbs) Deliveries
-------------------------------------------------------------------------
Winner 4,670 5.37 251 552,949 40%
-------------------------------------------------------------------------
Other 18,010 2.07 372 820,721 60%
-------------------------------------------------------------------------
Total 22,680 2.75 623 1,373,671 100%
-------------------------------------------------------------------------
(i) 25% of the reported ore deliveries or production is attributable to
Brilliant Mining Corp.
(ii) DMT equals dry metric tonnes, T equals tonnes, Lbs equals pounds
Winner Orebody
The Winner orebody contains a Probable Mineral Reserve of 144,003 tonnes of
ore grading 4.26% Ni metal and an Indicated Resource of 111,680 tonnes grading
6.16% Ni. Ore sourced from Winner will be a key component for future growth
with a targeted level of approximately 8,000-10,000 tonnes of ore per month
when full level production is attained.
The Winner orebody is located approximately 1 kilometre east of the main
Lanfranchi workings with access provided by an independent portal and decline.
The upper mine level at Winner is situated 155m below surface and has an
elongated cigar shape with a plunge of 30-40 degrees which is typically 10-20m
thick in the east/west plane and 30-60m thick in the north/south plane. The
mineralization is predominantly massive sulphides on the basalt/ultramafic
contact with minor disseminated sulphides hosted in the ultramafic.
Key Production Catalysts
The main factors that will contribute to the significant ramp-up in production
are:
- Ore from the now producing high-grade Winner orebody; and
- Ore from Deacon orebody with a Probable Reserve estimated at 1,695,433
tonnes at 2.54% Ni for 43,009 tonnes of Ni metal and scheduled for first
development ore production November 2007 and first longhole stope ore
production March 2008 (See Company press release dated August 7, 2007 and
43-101 technical report filed on SEDAR for details)
Brilliant Mining Corp. owns a 25% interest in the Lanfranchi Joint Venture
("Lanfranchi JV"), which owns the Lanfranchi Nickel Mine together with
associated infrastructure, mining leases and mineral claims. The remaining 75%
interest in the Lanfranchi JV is held by Sally Malay Mining Limited.
The project is supervised by John Williamson, P.Geol., of Edmonton, Alberta.
Mr. Williamson is CEO and a Director of Brilliant, and is the qualified person
as defined by National Instrument 43-101.
About Brilliant Mining Corp.
Brilliant Mining Corp. is focused on the production, development and
exploration of nickel opportunities world wide. The Company currently has a
25% interest in the producing Lanfranchi Nickel Mine in Western Australia and
has 3 active nickel projects in Canada, including the Michikamau property in
central Labrador.
On behalf of the Board of Directors
Mike Sieb, B.Sc., MBA, President
Brilliant Mining Corp.
Another news release:
News Releases
STRONG CONDUCTOR DOWN-PLUNGE OF DEACON – SURFACE DRILL PROGRAM PLANNED LANFRANCHI NICKEL MINE, KAMBALDA DISTRICT OF WESTERN AUSTRALIA
November 1, 2007
Vancouver, B.C. - Brilliant Mining Corp. (BMC:TSXV) (“Brilliant” or the “Company”) today provided an update on the platform EM drilling and drill plans down-plunge of Deacon orebody at the Tramways Tenements host to the operating Lanfranchi Nickel Mine in the Kambalda District of Western Australia.
Key Point Summary:
Strong geophysical conductor interpreted 50 metres down-plunge of Inferred Resource limit at Deacon
Surface drill program planned down-plunge of Deacon
“The strong geophysical response observed down-plunge of the Deacon orebody provides a high degree of confidence that the mineralization continues below existing drilling and demonstrates the potential to add significant mine life to the operation” states John Williamson, CEO of Brilliant Mining.
Down-Plunge Platform EM Drilling
Platform EM drilling and corresponding geophysical surveys were completed during the last quarter to determine the down-plunge continuation of Deacon from a drill station located at the base of Helmut South.
Hole HS313 was drilled down-plunge of Helmut South along the east side of the projected Deacon Channel resulting in a strong off-hole conductor centred approximately 310 metres down-hole. The conductor was interpreted to be orientated parallel, located above and towards the west of the drill hole (See Figure 1).
Hole HS312 intersected Deacon mineralization between 90 metres and 204 metres and between 270 metres to 280 metres and was surveyed by down-hole geophysics (DHEM) only below 260 metres. Modelling of the geophysical response identified a large conductor oriented sub-parallel and situated above the drill hole trace.
Both conductors are highly conductive and interpreted to represent a continuation of the Deacon Ni sulphide channel thereby extending the mineralization 150 metres beyond the current Probable Reserve limits and 50 metres beyond the Inferred Resource boundary. (See Figure 1)
Contact parallel EM holes are exploratory tools utilized in an underground mine environment to detect the down-plunge continuation of known mineralization well beyond the existing production levels. The aim is for the drill trace to remain in the footwall rock unit and maintain a parallel orientation in proximity to the contact horizon that hosts the mineralization so as to be able to detect the nickel sulphide conductor through a geophysical survey.
Deacon Planned Down-Plunge Surface Drilling
The current Deacon Probable Ore Reserve extends to 513,664mN and down plunge of this Northing. The Indicated and Inferred Resources extend a further 100 metres to 513,555mN. In order to expedite the conversion of resources to reserves, the current plan adopted by the Lanfranchi JV is to drill the down-plunge extensions to Deacon from surface using directional diamond drilling and wedging. This program will involve drilling a single parent diamond hole into the deposit and then using a standard casing wedge to drill any number of daughter diamond holes off the parent hole (See Figure 1). Currently 6 wedge holes are planned. The program is expected to commence in the first half of 2008.
Figure 1: Deacon Down-Plunge Plan Map showing DHEM conductive zone and proposed surface drill pierce points
Brilliant Mining Corp. owns a 25% interest in the Lanfranchi Joint Venture (“Lanfranchi JV”), which owns the Lanfranchi Nickel Mine together with associated infrastructure, mining leases and mineral claims. The remaining 75% interest in the Lanfranchi JV is owned by Sally Malay Mining Limited.
The project is supervised by John Williamson, PGeol, of Edmonton, Alberta, CEO and a Director of Brilliant, and is the qualified person as defined in National Instrument 43-101.
About Brilliant Mining Corp.
Brilliant Mining Corp. is focused on the production, development and exploration of nickel opportunities world wide. The Company currently has a 25% interest in the producing Lanfranchi Nickel Mine in Western Australia and has 3 active nickel projects in Canada, including the Michikamau property in central Labrador.
On behalf of the Board of Directors
“Mike Sieb”
Mike Sieb, B.Sc., MBA
President
Brilliant Mining Corp.
The street seems to like it:
BMC (CDN) as of 29 Oct 2007 at 02:55 PM EST
Last Price: 1.80 CAD
Market: CA
Change: +0.15
Last Traded: 29 Oct 2007 at 02:55 PM EST.
Tick:
Bid / Size: 1.78 / 500
Ask / Size: 1.80 / 5
Open: 1.70
Previous Close: 1.65
Annual Dividend: 0
Ex Dividend Date: N/A
Earnings: 0.00
Yield: 0.00%
P / E Ratio: 0.00
Beta: 1.69
Shares Out (Thousand): 68,767
Volume: 503,295
Average Volume: 186,424
Day High / Low: 1.85 / 1.70
52-Week High / Low: 2.90 / 0.58
BMC Company Snapshot
BullBoards Member Forums My BullBoards
Jump to BMC Forum
SUBJECT: Sally Malay lifts its nickel output target Posted By: CalifDreaming
Post Time: 10/22/2007 11:21
« Previous Message Next Message »
Sally Malay lifts its nickel output target
The latecomer in the Kambalda nickel mining renaissance, Sally Malay Mining, is setting its sights on becoming a strong mid-tier producer during next year, through increased action at Kambalda and at its Sally Malay mine in the Kimberleys of Western Australia’s far north.
Author: Ross Louthean
Posted: Monday , 22 Oct 2007
PERTH -
Sally Malay Mines Ltd (ASX: SMY) has set a target of ramping up its equity nickel production next financial year to 20,000 tonnes of metal, excluding cobalt and copper by-production. This figure was the target for "The 10 Year Plan" highlighted in the company's recently-released 2007 annual report.
The company's managing director, Peter Harold, told Mineweb today that key projects for this major lift in output are the Deacon mine as part of the Lanfranchi operations at Kambalda, the Copernicus open cut joint venture with Thundelarra Exploration Ltd and exploration and development on the Sally Malay Deeps.
Sally Malay has come a long way since mid 2004 when it commissioned the Sally Malay mine which ships its concentrates through the nearby port of Wyndham to the refining facilities of the Jinchuan Group in China. In fiscal 2004/05 it produced just over 5,000t of equity nickel metal and in 2006/07, with the Helmut South mine at Kambalda more than 12,000t of contained nickel.
As with the other mid tier nickel miners which took over the mines in that region then owned by WMC Resources (the big Kambalda concentrator is now operated by BHP Billiton's regional subsidiary Nickel West), Sally Malay is basking in ever increasing production and the sustained healthy nickel price.
Sally Malay joined two of these companies, Mincor Resources Ltd, Independent Group in producing stellar profits. The third, Consolidated Nickel, a subsidiary of takeover target Consolidated Minerals Ltd, had a fairly ordinary year, in part due to substantial mine development demands.
For 2006/07 Sally Malay had a net profit of $A88.1 million ($US77.52 M), declared a maiden dividend of A12 cents (US10.5¢) and declared cash and receivables of $A134.6 M ($US118.4 M).
Planning is underway to develop the Copernicus open cut in which Sally Malay holds a 60% stake and by mid 2008 it could be delivering an annualised 250,000 tonnes of ore to the Sally Malay mine concentrator, with that deepening mine contributing about 750,000 tpa to the mill.
Harold said whether the open cut (which has adequate ore for about five years mining life) extends into a decline is dependent on more exploration on the plunging orebody and also that a robust nickel price still exists in about five years time.
While there is no final detail, he said it was possible that Thundelarra's 40% share of Copernicus concentrates would also be shipped out through Wyndham to Jinchuan.
Sally Malay's 25% partner on the Lanfranchi operations is Canadian company Brilliant Mining Corporation (TSX-V: BMC) which had a team in Perth this week to discuss exploration and development issues.
This fiscal year's exploration budget for all projects is $A5.1 M ($US4.48 M), including equity participation by partners.
The upgraded Deacon resource to 58,000t of contained nickel and development of the smaller, high grade Winner deposit (6,140t) will see these two projects playing an important role at the Lanfranchi complex over the next two years. Deacon adjoins the Helmut South deposit which has a resource of 11.138t of contained nickel.
Harold told Mineweb that the company was looking at other potential acquisitions and joint ventures. He said that while prices for properties and companies in these buoyant conditions were high, there were still some attractive looking propositions.
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October 17, 2007
Brilliant Mining Corp. (A Discovery Group Company) to present at
Toronto and New Orleans Investment Conferences
During the month of October Brilliant Mining Corp. is conducting an extensive international roadshow culminating with our presence at both the Toronto Resource Investment Conference and the 2007 New Orleans Investment Conference – we hope to see you at one or both of these events.
Toronto Resource Investment Conference
October 21 - 22, 2007
Metro Toronto Convention Centre
South Building, Exhibition Hall D, 222 Bremner Blvd., Toronto ON
Booth
Time: Sunday 10am – 6:00pm and Monday 9am – 5:00pm
Location: 309 & 311
Presentation
Date: Monday, October 22, 2007
Time: 11:30am
Location: Workshop #2
The 2007 New Orleans Investment Conference
October 21 - 25, 2007
New Orleans Marriott Hotel
555 Canal Street - New Orleans, Louisiana
Booth
Time: Monday 10am – 6:00pm, Tuesday 10am – 7:30pm, Wednesday 10am – 5:00pm
Location: 308
Presentation
Date: Wednesday, October 24, 2007
Time: 2:45pm
Location: Galerie 6, Second Floor
If you have any questions or would like to speak with a representative during the conference, please contact Derek Iwanaka toll free at 1-888-331-2269 or 604-218-6313. Alternatively, you can email info@brilliantmining.com
Rocketred theres your bounce:
I do believe we may get another bounce from here.
News:
Suite 1440, 625 Howe St.
Vancouver BC, V6C 2T6
Toll Free: 1-888-331-2269
BMC: TSX-V
Brilliant Reports Significant Increase to Nickel Reserves and Resources Lanfranchi Nickel Mine, Kambalda District of Western Australia
Vancouver, B.C. - Brilliant Mining Corp. (BMC: TSXV) (“Brilliant” or the “Company”) today announced the filing of an updated NI 43-101 technical report. The technical report encompasses the recent key exploration and development activities at the Tramways Tenements, host to the producing Lanfranchi Nickel Mine, located in the world class Kambalda Nickel District of Western Australia. Since the previous March 2006 technical report, global ore reserves and mineral resources have greatly increased at Tramways.
Key Point Summary:
222% increase in Proven and Probable Reserves from 19,000 to 61,300 tonnes of nickel metal*
85% increase in Measured and Indicated Resources from 53,350 to 98,700 tonnes of nickel metal*
* Comparison of Lanfranchi Nickel Mine Resources and Reserves between March 2006 and August 2007 technical reports
“The tripling of reserves at the Lanfranchi Mine translates into both increased longevity for the operation and revenues to Brilliant Mining,” states John Williamson, CEO Brilliant Mining. “The dramatic growth in the resource inventory of the project in a short 18 month reporting period directly reflects on the remarkable underlying value of the asset”.
Interesting week so far:
Nickel September 19,13:01
Bid/Ask 15.0706 - 15.1613
Change +1.2943 +9.39%
Low/High 13.7764 - 15.2068
Notice of Annual General and Special Meeting of the
shareholders to be held Oct. 5th, 2007
Looks like your timing was good.
News:
Brilliant Mining Corp.: Deacon Ore Reserve Exceeds 43,000 Tonnes of Nickel Metal; Triples Reserve Base at Lanfranchi Nickel Mine, Kambalda District of Western Australia
CCNMATTHEWS
Brilliant Mining Corp.
August 7, 2007 - 09:30:02 AM
Brilliant Mining Corp.: Deacon Ore Reserve Exceeds 43,000 Tonnes of Nickel
Metal; Triples Reserve Base at Lanfranchi Nickel Mine, Kambalda District of
Western Australia
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 7, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant" or the "Company") today announced that an
initial Probable Ore Reserve of 1,695,400t at 2.54% Ni for 43,000 tonnes (94.8
million lbs) Ni metal has been estimated for the Deacon orebody at the 25%
owned Lanfranchi Nickel Mine, located in the world class Kambalda Nickel
District of Western Australia.
Key Point Summary
- Initial Deacon Probable Reserve estimated at 1,695,433 at 2.54% Ni for
43,009 tonnes of Ni metal
- Resource to Reserve conversion rate of 95% achieved based on total nickel
tones
- Lanfranchi Project on track with ramp up to 500,000t ore per annum from
2008/09
"The addition of the Deacon Ore Reserve triples the known reserve base and
confirms the longevity of the Lanfranchi Nickel Mine," stated John Robins,
Chairman, Brilliant Mining. "Advancing Deacon from a new discovery in October
2006 to a 95 million pound Ni Ore Reserve by August 2007, demonstrates
impressive execution by the Lanfranchi JV operations team and the ability to
meet future production targets."
One of the key points:
The continued strategy at the Lanfranchi mine will be to focus on capital development in the near term to maximize production and revenues in the long term. Currently, two out of three mine crews are committed to the capital development of the Lanfranchi orebody, Winner orebody and Deacon Resource. The incorporation of these new sources of material into the active mine plan will have a dramatic impact on the production profile with nickel metal production projected to double over the next three quarters from current levels.
R.J.
Update:
08:07 AM EST Brilliant Mining Corp.: June 2007 Quarterly Update; 5.37% Ni Over 24.1m at Lanfranchi Extension Resource Delineation Program; Lanfranchi Nickel Mine, Kambalda District of Western Australia
Maybe waking up?
bmc (CDN) as of 19 Jul 2007 at 11:29 AM EST
Last Price: 2.30 CAD
Market: CA
Change: +0.08
Last Traded: 19 Jul 2007 at 11:28 AM EST.
Tick:
Bid / Size: 2.27 / 50
Ask / Size: 2.30 / 5
Open: 2.24
Previous Close: 2.22
Annual Dividend: 0
Ex Dividend Date: N/A
Earnings: 0.00
Yield: 0.00%
P / E Ratio: 0.00
Beta: 1.14
Shares Out (Thousand): 60,919
Volume: 169,500
Average Volume: 127,889
Day High / Low: 2.31 / 2.21
52-Week High / Low: 2.90 / 0.58
News
Brilliant Mining Corp.: June 2007 Quarterly Nickel Ore Deliveries
CCNMATTHEWS
Brilliant Mining Corp.
July 17, 2007 - 09:01:41 AM
Brilliant Mining Corp.: June 2007 Quarterly Nickel Ore Deliveries
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 17, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant" or the "Company") today reported the
nickel ore deliveries for the quarter ending June 30, 2007 ("June 2007
Quarter") from its 25% owned Lanfranchi Nickel Mine, located in the world
class Kambalda Nickel District of Western Australia.
Lanfranchi Mine Key Point Summary (i):
- 57,558 tonnes of ore delivered in last quarter represents a 12% increase
from previous quarter
- Significant ramp-up in production at the Lanfranchi Nickel Mine targeted
through the next two years
- 8,000 tonnes (17.6 million lbs) Ni metal production projected for
July07-June08
- 13,250 tonnes (29.2 million lbs) Ni metal production target for
July08-June09
Consistent production has been achieved from the Helmut South orebody over the
last three quarterly periods. Ore deliveries reported for the June 2007
Quarter were 57,558 dry metric tonnes at an average grade of 2.22% Ni for
1,278 tonnes (2.8 million lbs) of contained Ni metal. Compared to the previous
quarter this represents an increase of 12.0% in ore tonnes and an increase of
10.7% in nickel metal tonnes delivered to the Concentrator in Kambalda.
Table 1 - Lanfranchi Mine Ore Deliveries Quarterly Summary - 100% Basis (i)
--------------------------------------------------------------------------
3 months 3 months 3 months
ending ending ending
Details Units 30 Jun 2007 31 Mar 2007 31 Dec 2006
--------------------------------------------------------------------------
Ore delivered DMT 57,558 52,082 61,631
--------------------------------------------------------------------------
Ni grade % 2.22% 2.21 2.39
--------------------------------------------------------------------------
Ni metal T 1,278 1,150 1,473
----------------------------------------------------
Contained Lbs 2,817,000 2,535,000 3,247,000
--------------------------------------------------------------------------
Cu grade % 0.19 0.19 0.20
--------------------------------------------------------------------------
(i) 25% of the reported ore deliveries or production is attributable to
Brilliant Mining Corp.
(ii) DMT equals dry metric tonnes, T equals tonnes, Lbs equals pounds
The continued strategy at the Lanfranchi Mine will be to focus on capital
development in the near term to maximize production and revenues in the long
term. Currently, two out of three mine crews are committed to the capital
development of the Lanfranchi orebody, Winner orebody and Deacon Resource. The
incorporation of these new sources of material into the active mine plan will
have a dramatic impact on the production profile with nickel metal production
projected to double over the next three quarters from current levels.
Production Forecast 2007/08 (i)
The preliminary production forecast for the high-grade Lanfranchi Nickel Mine
is 8,000 tonnes (17.6 million lbs) contained Ni metal in 2007/08 (12 months
ending June 08) based on approximately 300,000 tonnes of ore deliveries at
2.65% Ni. This forecast represents a 50% increase on the 2006/07 (12 months
ending June 07) actual ore deliveries from the Lanfranchi Mine of 5,189 tonnes
of Ni metal.
The main factors contributing to the significant ramp-up in production are:
- Ore from Winner(1) with a reserve grading 4.28% Ni scheduled for October
2007; and
- Ore from Deacon(2) with an indicated resource grading 3.09% scheduled for
first development ore production November 2007 and first longhole stope ore
production March 2008.
Production Target 2008/09 (i)
Based on the previously delineated resource and reserve inventory, the recent
exploration success at Lanfranchi and Deacon, and the continued investment in
plant and infrastructure the Lanfranchi Nickel Mine's potential production
target for the 2008/09 (12 months ending June 09) operating year is
approximately 13,250 tonnes (29.2 million lbs) contained Ni metal. This
forecast represents a 150% increase on the 2006/07 (12 months ending June 07)
actual ore deliveries. This rate of production is achievable provided the
ramp-up at Deacon(2) and Winner progresses on schedule.
(1) See Company press release dated April 4, 2006 for details.
(2) See Company press release dated April 16, 2006 for details. Production of
the Deacon Resource is contingent upon a positive feasibility study and
subject to a development decision by the Lanfranchi Joint Venture.
Brilliant Mining Corp. owns a 25% interest in the Lanfranchi Joint Venture
("Lanfranchi JV"), which owns the Lanfranchi Nickel Mine together with
associated infrastructure, mining leases and mineral claims. The remaining 75%
interest in the Lanfranchi JV is held by Sally Malay Mining Limited.
The project is supervised by John Williamson, PGeol, of Edmonton, Alberta. Mr.
Williamson, CEO and a Director of Brilliant Mining, is the qualified person as
defined in National Instrument 43-101.
About Brilliant Mining
Brilliant Mining Corp. (TSX VENTURE:BMC) is focused on the production,
development and exploration of nickel opportunities world wide. The Company
currently has a 25% interest in the producing Lanfranchi Nickel Mine in
Western Australia and has 3 active nickel projects in Canada, including the
Michikamau property in central Labrador.
On behalf of the Board of Directors
Mike Sieb, B.Sc., MBA, President
Brilliant Mining Corp.
R.J.
News
Brilliant Mining Corp.: Drilling Validates Tramways Dome Theory; 3.4% Ni Over 1 Metre Intersection on Upper Contact Tramways Tenements, Kambalda, Western Australia
CCNMATTHEWS
Brilliant Mining Corp.
July 10, 2007 - 09:01:04 AM
Brilliant Mining Corp.: Drilling Validates Tramways Dome Theory; 3.4% Ni Over
1 Metre Intersection on Upper Contact Tramways Tenements, Kambalda, Western
Australia
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 10, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant") today announced that five out of five
drill holes from the current program have intersected the overturned contact
that is associated with the known nickel sulphide channels within the Tramways
Tenements, Kambalda, Western Australia. This validation of the 'Overturned
Tramways Dome Model' effectively doubles the prospective area which is host to
the nickel sulphide mineralization on the property. In addition, one hole,
TD8030, intersected 3.4% Ni over 1 metre on the upper contact of the Dome in a
previously untested area.
Key Points:
- 5 out of 5 new holes intersect overturned contact associated with Ni
channels
- Discovery doubles prospective area of the property to host Ni channels
- 3.4% Ni over 1 metre intersected on upper contact of dome
- Down hole geophysics survey underway on all holes to detect Ni sulphide
conductors
Current Program
The current drill program consists of five holes, on an east-west fence
pattern at 200m drill centers, targeting the inferred overturned ultramafic
komatiite / mafic basalt contact ("contact"). The first five holes have
successfully intersected the overturned contact (see Figure 1 to view drill
hole plan map).
"In the Kambalda Region, the ultramafic Komatiite / mafic Lunnon basalt
contact is associated with the vast majority of the known Ni sulphide
deposits. Therefore, the identification that this target horizon is repeated
as an overturned limb of a fold effectively doubles the economic potential for
the Property," states John Williamson, CEO of Brilliant Mining.
Hole TD8030 collared in ultramafic and intersected 1m grading 3.4% Ni on the
upper contact. The presence of nickel mineralization proximal to the hinge of
the overturned fold highlights the potential for the continuity of
mineralization on the overturned contact of the Tramways Dome (see Figure 2 to
view a Cross Section of the Overturned Dome).
Since the 1960's more than 1 million tonnes of nickel metal (35 million tonnes
of ore at 3% Ni) have been produced from over 30 mines in the Kambalda Nickel
District. The bulk of this production was sourced from various operators
collectively mining the nickel channels immediately surrounding the Kambalda
Dome. The vast majority of the nickel channels mined at Kambalda is associated
with one stratigraphic contact (i.e. the ultramafic Komatiite / mafic Lunnon
basalt contact). Recent drilling has identified that the same stratigraphic
contact as observed at Kambalda is repeated as an overturned dome at the
Tramways Property. This updated 'Tramways Dome' model dramatically increases
the prospective area to host nickel channels within the property boundary. A
budgeted AUD$2 million surface exploration program is underway to target this
highly prospective and previously untested north flank of the Tramways Dome.
The current and future surface exploration drill programs will focus on the
continuation of the known Ni sulphide channels as projected on the overturned
north limb of the Tramways Dome. These Ni sulphide channels are blind deposits
(i.e. not exposed at surface) and rely on down-hole geophysics as the primary
tool for discovery.
Down-hole geophysics will be performed on all the pertinent current and
historic holes to determine the presence of near-hole conductors. Drilling is
planned to recommence on the highly prospective overturned contact once the
geophysical survey has been completed and the results are compiled.
Table 1: Drill Hole Summary - Current Drill Program
---------------------------------------------------------
Overturned
Hole Easting Northing Az Dip Contact (m)
---------------------------------------------------------
TD8030(i) 391000 516030 0 -60 366.0
---------------------------------------------------------
TD8031 390800 516050 0 -60 247.4
---------------------------------------------------------
TD8032 391200 516060 0 -70 237.7
---------------------------------------------------------
TD8033 391400 515900 0 -60 259.5
---------------------------------------------------------
TD8034 390600 516100 0 -60 450.0
---------------------------------------------------------
(i) 79-80m a 1m intersection grading 3.4% Ni was observed
Updated plan maps, drill hole locations and the Tramways Dome geological model
can be viewed below or on our website at www.brilliantmining.com.
Previous Programs
A small RC-diamond drilling program was completed in mid-2005 on the margin of
the Tramways Thrust revealing that in the vicinity of the thrust the
prospective Kambalda Komatiite / Lunnon Basalt contact is overturned (as
intersected in TD8006). This observation highlighted the potential for nickel
mineralization beneath the basalt in this area and has lead to a continuing
exploration focus in this region of the property. A follow-up drill program,
undertaken in January 2007, in addition to testing several EM anomalies,
tested the stratigraphy on-strike from TD8006. The stratigraphic drilling
confirmed the results from TD8006 with the intersection of the overturned
ultramafic beneath the Lunnon Basalt. The drilling program also facilitated
better delineation of the overturned UM/M contact surface.
Table 2: Drill Hole Summary - Previous Drilling
---------------------------------------------------------------------
Overturned
Hole Year Easting Northing Az Dip Contact (m)
---------------------------------------------------------------------
TD8006 2005 390900 516150 0 -90 300
---------------------------------------------------------------------
TD8023 Jan 07 390700 516157 0 -90 ended in basalt
---------------------------------------------------------------------
TD8024 Jan 07 391100 516165 0 -90 321
---------------------------------------------------------------------
TD8026 Jan 07 391300 516150 0 -90 141
---------------------------------------------------------------------
The project is supervised by John Williamson, PGeol, of Edmonton, Alberta, CEO
and a Director of Brilliant, and is the qualified person as defined in
National Instrument 43-101.
About Brilliant Mining
Brilliant Mining Corp. (TSX VENTURE:BMC) is focused on the production,
development and exploration of nickel opportunities world wide. The Company
currently has a 25% interest in the producing Lanfranchi Nickel Mine in
Western Australia and has 3 active nickel projects in Canada, including the
Michikamau property in central Labrador.
On behalf of the Board of Directors
John Robins, P.Geo., Chairman
Probably over 2.00 thur.
Not a bad close today.
I added at 1.95 thought that was a bargain now 1.80.
maybe bounce tomorrow, in anycase way oversold. Next few months barring some disaster should be 3.50 or above all IMO.
R.J.
Brilliant Mining Recognized as Top 10 Mining Company For 2007 TSX Venture 50 Ranking
CCNMATTHEWS
Brilliant Mining Corp.
June 20, 2007 - 09:03:05 AM
Brilliant Mining Recognized as Top 10 Mining Company For 2007 TSX Venture 50
Ranking
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 20, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant Mining") was today named to the 2007 TSX
Venture 50(TM), a ranking of Canada's top emerging public companies listed on
TSX Venture Exchange.
"Brilliant's recognition as an elite member of the TSX Venture is a tremendous
accomplishment that directly reflects the efforts and ability of management to
strategically position the Company for continued growth," said John Robins,
Chairman of Brilliant Mining.
The TSX Venture 50 are the top 10 companies in each of five major industry
sectors (mining, oil & gas, technology, life science and diversified
industries), based on a ranking formula that includes revenue, return on
investment, market cap growth, and trading volume.
"We are very proud to launch the TSX Venture 50 to celebrate the achievement
of our issuers," said Kevan Cowan, President, TSX Venture Exchange. "The
impressive list of companies demonstrates that the TSX Venture Exchange is a
unique incubator for public companies, and the companies in the TSX Venture 50
are proof that this market is working."
R.J.
Update;
Close
Brilliant Mining Corp.: 21,000 Tonnes (46.8 Million Lbs) Ni Metal Production Target Over Next Two Years; Lanfranchi Nickel Mine, Kambalda District, Western Australia
CCNMATTHEWS
Brilliant Mining Corp.
May 29, 2007 - 09:35:38 AM
Brilliant Mining Corp.: 21,000 Tonnes (46.8 Million Lbs) Ni Metal Production
Target Over Next Two Years; Lanfranchi Nickel Mine, Kambalda District, Western
Australia
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 29, 2007) - Brilliant Mining
Corp. (TSX VENTURE:BMC) ("Brilliant") today announces a preliminary production
forecast and an exploration update for the high-grade Lanfranchi Nickel Mine,
Tramways Tenements in the world class Kambalda District of Western Australia.
Key Point Summary (100% basis)
- Significant ramp-up in production at the Lanfranchi Nickel Mine through the
next two years
- 8,000 tonnes (17.6 million lbs) Ni metal production projected for July
07-June 08
- 13,250 tonnes (29.2 million lbs) Ni metal production target for July 08-June
09
- Aggressive exploration budget greater than US$4 million to be spent over
next 12 months
- US$0.007/lb Ni per Deacon Indicated Resource discovery/delineation unit cost
"The proposed mine plan and continued increase to the resource inventory,
plant and infrastructure is on schedule for the Lanfranchi Nickel Mine's
production goal of 10,000 tonnes of Ni metal" states John Williamson, CEO
Brilliant Mining Corp.
Production Forecast 2007/08 (100% basis)
The preliminary production forecast for the high-grade Lanfranchi Nickel Mine
is 8,000 tonnes (17.6 million lbs) contained Ni metal in 2007/08 (July 07 to
June 08 mine-plan year end) based on approximately 300,000 tonnes of ore
deliveries at 2.65% Ni. This preliminary forecast represents a 45% increase to
the 2006/07 forecast for Lanfranchi of 5,500 tonnes of contained Ni,
reflecting continued successful economies of scale and the planned
introduction of higher grade ore coming from Winner and Deacon.
The main factors contributing to the significant ramp-up in production are:
- Ore from Winner(1) with a reserve grading 4.28% Ni scheduled for October
2007; and
- Ore from Deacon(2) with an indicated resource grading 3.09% scheduled for
first development ore production November 2007 and first longhole stope ore
production in March 2008.
Production Target 2008/09
Based on the previously delineated resource and reserve inventory, the recent
exploration success at Lanfranchi and Deacon, and the continued investment in
plant and infrastructure the Lanfranchi Joint Venture's potential production
target for the 2008/09 (July 07 to June 08 mine-plan year end) operating year
is approximately 13,250 tonnes (29.2 million lbs) contained Ni metal. This
rate of production is achievable provided the ramp-up at Deacon and Winner
progresses on schedule.
Figure 1: Lanfranchi Nickel Mine Production Forecast
http://www.ccnmatthews.com/docs/529bmc1.jpg
Discovery & Purchase Unit Costs
The Lanfranchi Nickel Mine and surrounding Tramways Tenements was purchased by
the Lanfranchi Joint Venture for an US $20 million equivalent. At the time of
the acquisition the Lanfranchi Mine contained 53,000 tonnes of Ni metal in the
Indicated Resource category(3). This translates to an acquisition unit cost of
US$0.17/lb of Ni metal (see Table 1 below). In comparison, the discovery and
delineation of the Deacon containing 50,000 tonnes of Ni metal in the
Indicated Resource category cost US$0.007/lb.
The nominal exploration unit cost associated with the Deacon's contribution to
the resource inventory highlights the overall prospectivity of the property.
In this regard, the Company believes that a focussed exploration program is
fundamental to the continued vitality of the project and has budgeted an
aggressive US $4 million for the next 12 month period (July07-June08).
Table 1: Discovery/Purchase Unit Costs
----------------------------------------------------------------------------
Project Indicated Exploration/
Resource Purchase Cost (USD)
(tonnes)(i) Cost (USD) Cents/Lb
----------------------------------------------------------------------------
Lanfranchi Mine 53,000 $20,000,000 17.1c/lb
----------------------------------------------------------------------------
Deacon(2) 50,000 $ 800,000 0.7c/lb
----------------------------------------------------------------------------
(i) The Indicated Resource stated in the table are a subset of the Total
Reserve and Resource (Indicated and Inferred) that make up the mineral
inventory at the Lanfranchi Project.
Exploration Update
Numerous channel style massive and disseminated nickel sulphide deposits have
been historically developed at the Lanfranchi Mine and most display evidence
of down-plunge extensions. These potential extensions to known bodies of
mineralization are the primary focus of the exploration program at Lanfranchi
over the next 12 months.
Exploration and resource definition drill programs are currently underway from
both surface and underground at the Tramways Tenements. The plan is to test a
total of six advanced targets during the remainder of 2007 (see Table 2).
Table 2: Tramways Tenements - Lanfranchi Mine Exploration Drill Schedule
----------------------------------------------------------------------------
Area Description Quarter
----------------------------------------------------------------------------
Northern Tramways Dome Test highly prospective contact over 2 km
strike length Q2-07
----------------------------------------------------------------------------
Schmitz/Skinner Test depth extensions Q2-07
----------------------------------------------------------------------------
Helmut South Evaluate base of known mineralisation Q2-07
----------------------------------------------------------------------------
Lanfranchi Develop drill drive, test depth extensions
and EM anomalies Q3-07
----------------------------------------------------------------------------
Winner Test orebody extension when decline
development established Q3-07
----------------------------------------------------------------------------
Deacon Develop drill drive, test up- and
down-plunge extensions Q3-07
----------------------------------------------------------------------------
Figure 2: Schmitz & Helmut Ni sulphide channel extensions
http://www.ccnmatthews.com/docs/529bmc2.jpg
Northern Tramways Dome - Overturned Stratigraphy
The Northern Tramways Dome stratigraphy is under-explored and geologically
complex. Vertical stratigraphic holes have been drilled previously to test the
concept that the basal contact of the Kambalda komatiite is overturned in
places along the northern side of the Tramways Dome. The drilling indicated
that the basal contact of the highly prospective Silver Lake Member of the
Kambalda Komatiite Formation is overturned in this area and dips back towards
the south under the Lunnon Basalt (Figure 3). This provides considerable
future exploration significance. If this interpretation is maintained
elsewhere across the Tramways Dome then new massive nickel sulphide shoots
could potentially be discovered in this region.
Given the conceptual success to date a more detailed program has commenced to
explore for continuations of the Schmitz and Helmut channels on the north side
of the Tramways Dome. Drill testing of this surface over a 2 kilometre strike
length will form a significant part of the exploration activities for the next
12 months (Figure 4).
Figure 3: Northern Tramways Dome - Overturned Stratigraphy
http://www.ccnmatthews.com/docs/529bmc3.jpg
Figure 4: Northern Tramways Dome - Target Contact to be drill tested
http://www.ccnmatthews.com/docs/529bmc4.jpg
(1) See Company press release dated April 4, 2006 for details.
(2) See Company press release dated April 16, 2006 for details. Production on
the Deacon Resource is contingent upon a positive feasibility study and
subject to a development decision by the Lanfranchi Joint Venture.
(3) March 2006, 43-101 technical report by Golder Associates Pty. Ltd. filed
on SEDAR.
The project is supervised by John Williamson, PGeol, of Edmonton, Alberta, CEO
and a Director of Brilliant, and is the qualified person as defined in
National Instrument 43-101.
About Brilliant Mining
Brilliant Mining Corp. (TSX VENTURE:BMC) is focused on the production,
development and exploration of nickel opportunities world wide. The Company
currently has a 25% interest in the producing Lanfranchi Nickel Mine in
Western Australia and has 3 active nickel projects in Canada, including the
Michikamau property in central Labrador.
On behalf of the Board of Directors
Mike Sieb, B.Sc., MBA, President
Regards: R.J.
Brilliant now trading in the Pink BRLTF. (for those that care)
R.J.