Discovering and developing Copper & Cobalt ... - GOLDINVEST.de
Discovering and developing Copper & Cobalt ... - GOLDINVEST.de
Discovering and developing Copper & Cobalt ... - GOLDINVEST.de
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<strong>Discovering</strong> <strong>and</strong> <strong><strong>de</strong>veloping</strong> <strong>Copper</strong> & <strong>Cobalt</strong><br />
projects in the world renowned <strong>Copper</strong> Belt<br />
of the Democratic Republic of Congo<br />
www.africanmetals.com
Company Disclaimer<br />
If you are in doubt about the contents of this document you should consult a person<br />
authorized <strong>and</strong> who specializes in advising on the acquisition of shares <strong>and</strong> other securities<br />
before taking any action. The whole of this document should be read. Investment in the<br />
Company is speculative <strong>and</strong> involves a high <strong>de</strong>gree of risk.<br />
The Company is listed on the TSXV Exchange un<strong>de</strong>r the symbol AFR. The Directors of<br />
African Metals Corp. accept responsibility, individually <strong>and</strong> collectively, for the information<br />
contained in this document <strong>and</strong> for compliance with the TSXV Rules. To the best of the<br />
knowledge <strong>and</strong> belief of the Directors (who have taken all reasonable care to ensure that<br />
such is the case), the information contained in this document is in accordance with the facts<br />
<strong>and</strong> does not omit anything likely to affect the importance of such information.<br />
This document does not constitute an offer to sell or the solicitation of an offer to buy<br />
Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful. The<br />
distribution of this document in some jurisdiction may be restricted by law <strong>and</strong> therefore<br />
persons into whose possession this document comes should inform themselves about <strong>and</strong><br />
observe any such restriction. Any failure to comply with these restrictions may constitute a<br />
violation of the securities law of any such jurisdiction. This document has neither been<br />
approved or disapproved by the TSXV Exchange.<br />
www.africanmetals.com 2
Investment Highlights<br />
• High gra<strong>de</strong> copper/ cobalt exploration assets located in the Katanga <strong>Copper</strong><br />
Belt in the DRC with many drill ready targets i<strong>de</strong>ntified<br />
• Acquired a 57% interest in the Luisha South project located in close proximity<br />
to high gra<strong>de</strong> copper <strong>de</strong>posits <strong>de</strong>veloped by CIMCO <strong>and</strong> Tiger Resources. A<br />
further 33% equity interest negotiated with the initial 18% awar<strong>de</strong>d immediately<br />
on issue of shares to TSM. AFR to hold a 75% initial interest rising to 90% at<br />
AFR‘s option on resource milestones being achieved<br />
• Historic open pit copper production from Luisha South of 230,000 tonnes @<br />
10.1% <strong>Copper</strong> <strong>and</strong> up to 2% <strong>Cobalt</strong><br />
• Close to infrastructure; Access to roads, rail <strong>and</strong> power. Fully operational<br />
office <strong>and</strong> field teams in place<br />
• Initial resource calculation expected in August 2010. Targeting 30,000 t Cu <strong>and</strong><br />
10,000 t Co contained metal<br />
• Management team <strong>and</strong> Board with extensive experience operating in the DRC<br />
<strong>and</strong> well known for discovering <strong>and</strong> monetizing large <strong>de</strong>posits<br />
www.africanmetals.com 3
Capital Structure<br />
Issued (in millions)<br />
Shares 79.31<br />
Options 3.69<br />
Warrants 7.57<br />
Total 90.57<br />
Financials & Cash Flow Amount CAN $<br />
Cash at Bank<br />
$1.15 million<br />
Total Monthly Burn Rate $75,000<br />
Immediate Drilling costs $800,000<br />
Contingency Reserve $350,000<br />
www.africanmetals.com 4
Management & Directors<br />
Klaus Eckhof – Chairman<br />
• +20 yrs. experience <strong><strong>de</strong>veloping</strong> mineral <strong>de</strong>posits in Africa, South America, Asia, Australia <strong>and</strong> Russia<br />
• Foun<strong>de</strong>d Moto Goldmines ,<strong>de</strong>lineated 20 M oz of gold with a feasibility study within 4 yrs; Moto was<br />
acquired in 2009 by R<strong>and</strong>gold <strong>and</strong> AngloGold Ashanti for ~$500 million. Current CEO of Kilo Gold<br />
Nigel Ferguson – Presi<strong>de</strong>nt & CEO<br />
• +23 yrs. experience as a resource <strong>and</strong> <strong>de</strong>velopment geologist focused on base metals in Saudi Arabia, SE<br />
Asia, Central <strong>and</strong> South America <strong>and</strong> Africa<br />
• Over 15 years corporate experience at a senior level including Project Manager for St. Barbara Mines<br />
(Paulsens Project), Country Manager for Tanzania with Ashanti Goldfields <strong>and</strong> CEO for Condor Resources<br />
Carl Verley – Director<br />
• Geologist with +30 yrs. experience<br />
• Has served on the board of several listed companies including Mountain Province Diamonds, Alphamin<br />
Resources <strong>and</strong> Gee-Ten Ventures<br />
Ronald “Jono” Lawrence – VP Exploration & Country Manager DRC<br />
• +19 years experience in managing geological programs in Australia, Asia, Africa <strong>and</strong> Central America<br />
including exploration <strong>and</strong> <strong>de</strong>velopment of copper, gold <strong>and</strong> base metal assets.<br />
• +7 years in senior technical management positions for Pan Aust Ltd; AGRC (Vedanta); Condor Resources<br />
Plc <strong>and</strong> Medusa Mining Ltd.<br />
Sheryl Jones – CFO<br />
• +15 yrs. accounting experience working primarily for TSXV listed companies including CFO of Rome<br />
Resources, Zinco Mining, <strong>and</strong> Eureka Resources<br />
James Harris – Corporate Secretary<br />
• Corporate, securities <strong>and</strong> business lawyer with +25 yrs experience<br />
www.africanmetals.com 5
Luisha South – Location & Geology<br />
• Located in the prolific Katanga <strong>Copper</strong><br />
Belt<br />
• Luisha South located < 5 km along<br />
strike from Tiger Resources’ Kipoi<br />
<strong>de</strong>posit (M&I resource of 2.86 million<br />
tonnes @ 8.1% Cu)<br />
• Previous open pit copper production<br />
(1940’s) of 230,000 tonnes @ 10.1% Cu<br />
<strong>and</strong> 2% Co<br />
• Recent grab <strong>and</strong> channel sampling by<br />
AFR revealed significant<br />
mineralization including up to 18% Cu<br />
<strong>and</strong> 9% Co<br />
• 3.5km unexplored strike extension<br />
thought to contain the highly<br />
mineralized Roan Group Mine<br />
Sequence<br />
• Currently drilling 2500 m of RC <strong>and</strong><br />
500 m DD on the Luisha South Pit area<br />
www.africanmetals.com 6
Untested Potential<br />
Mineralized Structural<br />
Corridor<br />
Untested Mineralized<br />
Structural Corridor<br />
www.africanmetals.com 7
Pit Sample Results<br />
& Proposed Drill Hole Locations<br />
www.africanmetals.com 8
Luisha South Pit<br />
Sectional View <strong>and</strong> Assay Results<br />
www.africanmetals.com 9
Pit Sample Results<br />
& Proposed Drill Hole Locations<br />
www.africanmetals.com 10
2010 Work Program<br />
Luisha South<br />
March 2010<br />
Detailed mapping <strong>and</strong> sampling of the<br />
Luisha pit <strong>and</strong> immediate environs –<br />
completed<br />
Recon mapping <strong>and</strong> sampling of the<br />
southern strike extensions – completed<br />
April 2010<br />
May / June<br />
2010<br />
Satellite imagery interpretations <strong>and</strong><br />
targeting – un<strong>de</strong>rway<br />
Regional <strong>and</strong> infill soil sampling of the<br />
strike extensions – <strong>de</strong>layed<br />
RC drilling of the Luisha South Pit -<br />
un<strong>de</strong>rway <strong>and</strong> 35% completed<br />
July 2010<br />
DDH <strong>and</strong> RC infill drilling<br />
August 2010<br />
Initial Resource Calculations<br />
www.africanmetals.com 11
Summary<br />
• High gra<strong>de</strong> copper/ cobalt exploration assets in the Katanga <strong>Copper</strong> Belt<br />
• Excellent location; Close proximity to high gra<strong>de</strong> copper <strong>de</strong>posits including<br />
historical, current <strong>and</strong> near term producers<br />
• Recent channel chip results indicated high gra<strong>de</strong> copper cobalt mineralisation<br />
present <strong>and</strong> potential for a significant pit cut back<br />
• Near term catalysts inclu<strong>de</strong> <strong>de</strong>tailed work program on Luisha South with an<br />
initial resource calculation programmed for August 2010<br />
• Experienced management <strong>and</strong> board with a proven track record of discovering<br />
<strong>and</strong> monetizing large <strong>de</strong>posits<br />
• Further RC drilling <strong>and</strong> resource calculation will require funding through a<br />
capital raising<br />
www.africanmetals.com 12
Contact<br />
African Metals Corporation<br />
Nigel Ferguson<br />
Presi<strong>de</strong>nt & CEO<br />
T: +61 (8) 9240-2836<br />
E-mail: fergusonn@crcpl.com.au<br />
Corporate Office<br />
Suite 205 – 16055 Fraser Highway<br />
Surrey, BC, Canada V4N 0G2<br />
T: +1 (604) 507-2181<br />
F: +1 (604) 507-2187<br />
Email: info@africanmetals.com<br />
www.africanmetals.com<br />
AXINO AG<br />
Koenigstrasse 26<br />
70173 Stuttgart, Germany<br />
T: +49 (711) 2535 9230<br />
F: +49 (711) 2535 9233<br />
Email: service@axino.<strong>de</strong><br />
www.axino.com<br />
www.africanmetals.com 13
Appendix<br />
Schematic Drill Sections<br />
&<br />
Photographs<br />
www.africanmetals.com 14
South Luisha Pit Compilation Section<br />
www.africanmetals.com 15
South Luisha Pit Section C<br />
www.africanmetals.com 16
South Luisha Pit Section D<br />
www.africanmetals.com 17
South Luisha Pit Section F<br />
www.africanmetals.com 18
South Luisha Pit Section F<br />
www.africanmetals.com 19
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