More on Simba Mines from link in last post,
Outstanding Shares: 18,335,000 as of 2005-05-11
Float: 2,350,000 per May 4, news
by Financials.com
Featured Company
Simba Mines Inc.'s wholly owned subsidiary is the licence holder of a 3615 sq km license area on the coast of Angola. Work to date has established a measured and inferred resource of 58.1 million tonnes at 2.14% copper which is a contained copper resource of 1.3+ million tonnes . The sharing split is Simba 80% and Angolan nationals 20%.
symbol: SBAMF (PKS)
price: 0.80 (0.90 close on Friday)
Corporate Information: Simba Mining Inc.
Company Description:
United States Office
300 Center Avenue, Suite 302.
Bay City, Michigan, 48708, USA
Tel: +1 989 891 1274
Fax: +1 989 509 5904
Operations Office
Rua Josip Broz Tito Nr 54, 2nd Floor / H
Municipality of Ingombota, Luanda, Angola
Tel: +244 9151 0672
Fax: +244 246 0432
Exploration Manager: Elmar Paniev
Outstanding Shares: 18,335,000 as of 2005-05-11
Float: 2,350,000 per May 4, news
Power tariffs are currently us 2 cents / Kwh.
Operating costs are estimated at US$ 45 - 48 c/lb, which includes a contingency of US$ 10 c/lb.
The current price of copper is approximately US$ 1.60/1b.
Mining of the resources will be undertaken through conventional heap leaching plus solvent extraction electro mining SXEW to produce LME grade copper cathode.
Initial plant production capacity
Planned to be 20,000 tonnes per annum (approximately 40 million lbs) with capital costs estimated at US $35 million
Following upgrading confirmation of the geological resource,
it is anticipated that the plant capacity will be increased in Year 3
to 40,000 - 50,000 tonnes per annum (approximately 80 - 100 million lbs of copper).
The mine is located near the coast with much infrastructure already in place.
''Angola is one of the world's biggest -- and least developed -- mineral treasure troves..." The Economist, July 1, 1995
Being an excellent conductor of electricity, copper is used mostly in electrical and electronic products, largely in the IT industry. It is also used in construction and industrial applications, and a small amount is used in the transport industry.
At today's copper prices, the proven recoverable copper reserves of 106,358 tonnes are worth in excess of $350 million.
The mine is located near the coast with access to power and other infrastructure and its operating costs should not exceed US$1,000 per tonne.
Currently, copper trades in excess of US$3,000 per tonne.
ORE RESERVES
Proven reserves : 7.1 million tonnes
Copper Grade 2.14 %
Proven contained copper: 151,940 tonnes
Recovery rate 70%
Proven recoverable copper: 106,358 tonnes
Inferred reserves 50 million tonnes Copper Grade 2.14%
Inferred contained copper: 1 million tonnes
Recovery rate 70%
Inferred recoverable copper: 749,000 tonnes
Simba Mines Inc. is a copper mining company headed by an experienced management team with a strong track record of success.
Simba holds an 80% interest in the Cachoeiras de Binga license in Angola.
Simba's license area is 3615 sq. km located near the coast close to the town of Sumbe where existing infrastructure is in place.
Cachoeiras de Binga
town of Sumbe
A purpose-designed bucket-wheel excavator
is used to remove leached ore from the pads
once the copper has been extracted.
Mark Smyth - Chairman
Mark Smyth has over 35 years of experience in the natural resources sector, which commenced with Selection Trust in 1969 where he was part of the project development teams for Mt Newman iron ore and Agnew nickel projects in Australia. Since 1975 he has co-founded a number of companies involved in the exploration and production of gold, oil, gas and diamonds around the world. Mr Smyth operates from Perth, Western Australia, Dubai and London and is a member of the Ironmongers Company of the City of London. He has a law degree from Oxford University and is a solicitor in England and Wales, Hong Kong and several states in Australia.
Nik Zuks - President
Nik Zuks, from Perth, Western Australia, has in excess of 25 years experience in the mineral exploration and development in Australia, Africa, Malaysia and Indonesia and has a wide commercial background. Mr Zuks was responsible for the development of the Midwest Iron and Steel Project in Western Australia, an integrated mining and processing project. Mr Zuks was also instrumental in the development of the Mambramo forestry project in Irian Jaya, Indonesia.
Paul Kopejtka - Chief Operating Officer
Paul Kopejtka has 18 years engineering experience in the mining industry encompassing technical and financial evaluation, project management, risk analysis, metallurgical and engineering design and commissioning. He has worked on projects in Africa, Australia, Asia and Russia and has a successful track record in a range of mineral processing industries.
Shane Healy - CFO / Treasurer
Shane Healy is a member of the Australian Society of Company Secretaries and the Australian Institute of Company Directors. He has held senior management roles with medium to large corporations and is the Chief Financial Officer of New Millennium Resources NL.
Michael Smith - Exploration
Michael Smith is a seasoned veteran with over 40 years experience in the mining industry. He has held various senior roles and has worked on numerous projects all over the world including Angola, Algeria, Sierra Leone, Liberia, Mali, Mozambique, Zambia, Finland, Ireland, Russia, United Kingdom, , Zimbabwe, Tanzania, Malawi, Mozambique, Lesotho, Madagascar, Ghana, Guinea, Afghanistan, Pakistan, Kazakstan, Bolivia, Brazil, USA, Netherlands, and United Kingdom.
Management:
Recent News Alert
Special Meeting Held
BAY CITY, MI and TORONTO - (PRIMEZONE) - August 2, 2005 - Simba Mines Inc. advises that a Special Meeting of the shareholders has been held on July 29th 2005 and the resolution was passed to transfer the domicile of Simba from Canada to the USA, and to change the company's name to Simba Mining Inc. The required applications are in progress to re-domicile Simba to an American company. It will then be in a position to apply for the removal of the "F" from its trading symbol.
