Noble Minerals - Update on Bibiani

http://asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=NMG&timeframe=D&period=W

Impressive drill results - have a look

Ghana - Introduction to the 2nd largest gold producing country in Africa

Mines that are in Ghana: (http://www.mbendi.com/indy/ming/gold/af/gh/p0005.htm)

Ghana’s largest mine is Tarkwa, owned by Gold Fields Ltd. The Tarkwa Gold Mine is located in south-western Ghana, about 300 kilometers west of Accra. The project consists of six open pits, two heap leach facilities, and a CIL plant. Tarkwa has a Mineral Resource of 15.3 million gold ounces and a Mineral Reserve of 9.9 million ounces. During financial 2010 Tarkwa produced 720,700 ounces of gold. For the 12 months to end-June 2011 the outlook for Tarkwa is to produce between 720,000 and 760,000 ounces of gold. Newmont Mining’s Ahafo mine produced 531,470 ounces of gold in 2009, up from 524,000 a year earlier.

Gold Fields also owns the Damang mine, located in south-western Ghana, about 300 kilometers west of Accra. The Damang Gold Mine has a Mineral Resource of 4.7 million gold ounces and a Mineral Reserve of 2.1 million ounces.

AngloGold Ashanti’s Obuasi operation produced 383,000 ounces a year. AngloGold Ashanti expects its Obuasi mine to produce around 400,000 ounces of gold per year by 2012.

AngloGold also owns the Iduapriem mine, which produces an average 190,000 ounces of gold per year.

Bibiani gold mine, owned by Noble Mineral Resources, is located in western Ghana, 250 kilometres north-west of Accra. The open-pit mine, which was commissioned in 1998, is in the Sefwi-Bibiani belt, and contains more than 17 million ounces of gold. The Sefwi-Bibiani belt is the second-most significant gold- bearing belt in Ghana after the Ashanti Belt to the east. Noble Resources plans a $9m drilling programme over the next three years.

Golden Star Resources, who has two operating mines in Ghana, poured its two-millionth ounce of gold from its Bogoso/Pretea and Wassa mines in 2009.

The Bogoso/Pretea project, in which Golden Star has a 90% interest (Ghana government owns the remaining 10%), consists of approximately 85km mining and exploration concessions along the Ashanti rrend in south-west Ghana. Bogoso/Presteas’s forecast for 2010 is production of 200,000 ounces.

The Wassa gold mine (also 90% owned by Golden Star), is located in the southwestern region of Ghana approximately 35 km east of Bogoso/Prestea. In 2009, mining operations at Hwini-Butre commenced and provide even higher grade ore to the Wassa mill.

Keegan Resources has two premier gold assets in Ghana. Keegan's flagship property is the Esaase gold deposit. Updated resource calculations indicate a 2.025 million ounce indicated and 1.451 million ounce inferred resource averaging 1.5 g/t and 1.6 g/t Au respectively. Development studies are currently underway that will enable the project to be brought quickly to production stage. Keegan is also exploring a second project, the Asumura gold property, is located along one of Ghana's largest and most productive gold structures.

Geology of Ghana

(http://www.mbendi.com/indy/ming/gold/af/gh/p0005.htm)

a few companies that mine in ghana in the asx

NMG - Noble Minerals Group

ADU - Adamus 

PRU - Perseus Mining

AZM - Azumah Mining

CDT - Castle Minerals

PMI Gold - Going to be listed soon in ASX.

NMG - New player Bank of America

Just a quick note - Bank of America increased their stake in NMG.  A bit surprising to me that they are even interested in a junior mining company. 
They have lodged a statement that they owned 20.6m shares (5.93%) on 23 november, and now they own 24.4m (7.03%) on 30 November.
Pretty aggressive buying according to my humble opinion :)
I think they won't buy into a junior mining unless they are pretty confident of the shares increasing in value - which is good news for me :)

Cape Lambert plans to sell Marampa project

INTERVIEW-Cape Lambert plans to sell Marampa project

Thu Dec 2, 2010 5:51pm GMT

 

* At least 13 companies have already visited the project
* Plans to open up its data room early next year
* Seeks to develop richer iron ore deposits in Sierra Leone

By Julie Crust and Eric Onstad
LONDON, Dec 2 (Reuters) - Australian iron ore developer Cape Lambert Resources plans to sell or spin off its Marampa iron ore project in Sierra Leone to raise money to explore larger deposits, Executive Chairman Tony Sage told Reuters.
At least 13 companies have already visited the project and Cape Lambert plans to open its data room once a scoping study on the project is completed early next year, he said on Thursday.
The project is supported by existing rail and port infrastructure, which is being refurbished, and the company has previously said production could start in late 2012 at an initial rate of about 2-5 million tonnes per annum.
Cape Lambert is looking to dispose of Marampa so that it can explore and develop potentially bigger iron ore projects in the West African country where it recently acquired three more licences, Sage added.
Marampa contains around 197 million tonnes of iron ore based on inferred resource estimates released last month for two of its eight known prospects. Cape Lambert plans to announce an updated resource estimate in March.
Rising demand from steelmakers, particularly in China, has pushed spot iron ore prices up more than 40 percent this year.
The company has not ruled out the option of spinning off Marampa and listing it in its own right, Sage said.
In March, Cape Lambert sold its Lady Annie copper project in Australia to China Sci-Tech Holdings Ltd for A$135 million, finding a trade buyer after pulling a planned IPO.
AIM-listed African Minerals, which owns the Tonkolili iron ore project in Sierra Leone, has a 19-percent stake in Cape Lambert. (Editing by Jon Loades-Carter)

CFE - African Minerals interest...

African Minerals projects will change the face of Sierra Leone

African Minerals Limited the largest iron ore company in Sierra Leone is now at an advanced stage in preparing the infrastructure that will see them kick start the exportation of iron ore to European and Asian Countries.
The railway line from Tonkolili right down to Pepel and Tagrin is at an advanced stage since the arrival of the materials few weeks ago. The Tagrin port construction also is well ahead on course for completion.
The deal between AML and Shandong Steel is still on as Shandong Steel has completed their due diligence and AML is waiting for them so they can complete the deal before operations can start.
Also AML has been doing well in the Stock market where they sold some shares to raise funds due to the delay of Shandong Steel. The company’s management is very optimistic that come next year AML will be ready in time to start export.
Presently more Sierra Leoneans are gaining employment as the company expands its operations. The conditions of service for workers have always been good and the environmental condition they are working under has also been improving as the company wants to meet all local and international standards of operations.
The Company has focused its funding and resources in 2009 on its flagship Tonkolili Iron Ore project, the Marampa Iron Ore project (in conjunction with Cape Lambert Resources Limited) and the Ports and Railway Infrastructure Project.
The Company continues to pursue value adding strategic alliances with third parties in the core commodities of iron ore and coal, but has scaled back activities at its diamond, base metals and uranium exploration projects.
Sierra Leone — Lignite Exploration (Option with Pinnacle Group Assets (SL) Limited)
The Company entered into an option agreement in December 2008 with Pinnacle Group Assets (SL) Limited, a privately held company registered in Sierra Leone, which holds the rights to certain coal and other mineral exploration licences in Sierra Leone. The purpose of exploration is to identify potential sources of coal for power generation for the Company’s iron ore projects in Sierra Leone and for distribution to the national grid of Sierra Leone.
The Company commenced early stage lignite exploration activities on these licences, which cover a 150 km strike length in the Bullom Group series of sediments north and south of Pepel Port.
Sierra Leone — Gori Hills Nickel-Cobalt
The Gori Hills prospect is a 20 km2 target where a nickel-cobalt anomaly was identified by reconnaissance stream sediment sampling. Initial surface trench results from this anomaly returned an average grade of 0.73% nickel and 0.061% cobalt over an interval of 56m between depths of 1m and 3.2m.
Sierra Leone — Lovetta Uranium
The Lovetta uranium anomaly, located in eastern Sierra Leone near the Liberian border, comprises an area of 160 km. In the immediate project area, seven anomalies of over 10 ppm uranium and over 450 counts per minute uranium have been identified by a programme of soil and scintillometer sampling over a 4km strike length. A trenching programme has delineated up to a 150m strike length and widths of 66m of anomalous uranium and thorium and is open in both directions.
Sierra Leone — Laminia Gold
The Laminaia gold project has been defined by a 14km by 1.5 km north-south gold trend. Within this broad trend three discrete anomalies have been identified over 100 ppb gold (peak grade of 680 ppb gold) with an overall strike length of approximately 2 km. Rock chip samples of quartz float returned an average grade of 117 g/t gold.
Sierra Leone — Diamonds
The results of follow-up kimberlite exploration sampling activities along with aeromagnetic survey data have been used to refine potential drilling targets for hard rock diamonds exploration. Thirteen high priority aeromagnetic targets, with coincident positive kimberlite grains, and 10 high priority drainage targets have been defined to form the basis of future kimberlite drilling programmes.
Canada — White River Resources Inc.
Through its wholly owned subsidiary, White River Resources Inc., the Company holds mineral claims and rights to earn-in mineral claims in the Canadian Yukon province on the Kluane ultramafic belt, an area that the Company believes has significant nickel potential. The scale of the exploration programme to date has not been sufficient to conclusively ascertain the prospectivity of the mineral claims.
Cape Lambert — Marampa
African Minerals disposed 100% of its interest in Marampa Iron Ore Limited in return for up to 19.9% of Cape Lambert Resources Limited’s (“CLIO”) issued share capital in November 2009. Cape Lambert Resources is an Australian based exploration and development company with interests in a geographically diverse portfolio of mineral assets and investments in several exploration and mining companies. This sale of Marampa enables African Minerals to focus entirely on its 5.1Bnt iron ore projects whilst benefiting from additional exposure to CLIO’s diverse portfolio of high quality resource assets and consolidates its relationship with CLIO. African Minerals can maintain and benefit from an indirect exposure to Marampa without requiring it to fund the construction and development of the Marampa project.
As at 31 December 2009, African Minerals Limited owned 85,569,934 shares (representing 15.14% of the total number of issued shares) in Cape Lambert Resources Ltd (ASX: CFE) with a market value of US$40,503,929.Baobab Resources
Baobab Resources plc is a Mozambique focused iron ore, base and precious metal explorer. The Company has a large land-holding covering five discrete project areas. The Tete iron ore asset is emerging as Baobab’s flagship project.
As at 31 December 2009, African Minerals Limited owned 11,425,000 shares (representing 7.19% of the total number of issued shares) in Baobab Resources plc (AIM: BAO) with a market value of US$1,139,179.
West African Diamonds
West African Diamonds plc is incorporated in England and is a diamond focused explorer with operations in Sierra Leone and Guinea. Formed from the West African assets of AIM listed African Diamonds plc and recently acquired additional licences in Guinea, West African Diamonds contains a portfolio of development, advanced and early exploration assets across West Africa.
As at 31 December 2009, African Minerals Limited owned 8,700,000 shares (representing 9.67% of the total number of issued shares) in West African Diamonds plc (AIM: WAD) with a market value of US$563,994.
Health, Safety, Environmental and Security (HSES) Policy Over and above its legal responsibilities African Minerals has a primary and continuing commitment to protect the environment, the health, safety and security of its employees and of all personnel involved in or affected by its activities. This commitment is reflected in African Minerals’ corporate HSES policy which sets specific Standards relating to HSES performance which are mandatory and applicable to all African Minerals’ activities. Responsibility for compliance with our health and safety standards lies with the Chief Executive Office, and all African Minerals’ employees.
The Company is committed to carrying out all its operations in a fully responsible manner. In 2009 African Minerals achieved a good safety performance and we are committed to improving this as we move forward.
Environmental Policy African Minerals strives to be a global leader in responsible mining. It is our priority to try to safeguard the environment, protect the safety of our employees, and improve the quality of life in the communities and countries in which we operate.
In 2009 the Company continued to make progress in these areas. The project’s environmental and social impacts work towards compliance with the Equator Principles, an internationally recognised set of benchmarks for managing the impacts of large projects.
By Austin Thomas in China

Strike Gold With Junior Mining - Good introduction to Mining

Strike Gold With Junior Mining

The value of gold, silver, platinum and other precious metals has soared since 2002. Prices of these metals remain on the rise, driven by high demand and limited global mine supply. Junior exploration companies are poised to benefit most, but do you know how to choose the right one?

Read on to learn about the niche junior companies occupy and the important things you need to look for to ensure you aren't investing in the next Bre-X. (To learn more about the Bre-X debacle and other investment nightmares, check out The Biggest Stock Scams Of All Time and The Ghouls And Monsters On Wall Street.)
Junior Companies Play a Senior Role
A junior mining company is an exploration company that looks for new deposits of gold, silver, uranium or other precious minerals. These companies target properties that are believed to have significant potential for finding large mineral deposits. Junior exploration companies are a major source of future mine supply. They find promising properties, prove the resources, stake the raw material and bring mines into production. With highly trained geologists, geophysicists and engineers on staff, it is the junior mining company that typically is best positioned to determine whether a property is economically viable. Juniors are critical players in the early stages, bridging the long lag time between when a new deposit is found and when it is brought into production.
Fields Of Green And Brown
There are two types of exploration: green field and brown field. Green field exploration refers to uncharted territory, where minerals are not already known to exist. Brown field exploration refers to areas where deposits were previously discovered. Not surprisingly, green field exploration is riskier and more expensive than brown field, but the potential payoff is much higher, too. (This exploration is similar to green field and brown field investments, which deal with companies choosing to build new production facilities or lease/purchase old ones.)Once a site has been selected, junior exploration companies then map the geological characteristics of the area in great detail. Geologists will use both on-the-ground analysis and remote sensing devices from the air to evaluate the physical properties of prospective ore bodies. Target areas are then chosen for more in-depth research, including ground-based seismic surveys and gathering samples to get a clearer picture of where to start digging.
Properties and Projects
The first place for investors to begin their research is to examine the junior's portfolio of properties and projects. It is important to understand the nature of each property, and to ensure the company has just enough - but not too many - projects in the pipeline. While it is easy to find reams of technical details and photos on a company's prospective reserves, translating all that geological mumbo-jumbo is tough for the novice investor. Here are a few things to focus on:

• Location, location, location: Companies with projects or properties that are near currently operating mines - or mines that were once in production - are usually a safer bet than those with pure greenfield targets where no known deposits have ever been discovered. The added advantage of properties near known mineralization is that there is likely to be existing infrastructure, such as roads, water and electricity. This makes it easier and cheaper for a company to bring mines into production. Weather is also a factor. For example, the northern regions of Canada can suffer from a short exploration season due to severe winters, while in southern countries, such as Mexico, drilling can take place year round. 
   
• Management, management, management: Most junior companies rely on very small management teams, yet the quality of the senior staff is arguably the single most important success factor. When evaluating management risk, ask yourself some important questions: Does the team include geological engineers with extensive experience in precious minerals? Has the team worked together in the past, and do they have a track record of finding the gems they seek? Can the CEO or President negotiate deals and raise capital? Exploration is a very chancy and capital-intensive business. The right management team makes a world of difference when it comes to gaining the confidence of investors in order to raise the funds and buy the time necessary to bring mines into production. (For more insight, see Evaluating A Company's Management and Putting Management Under The Microscope.)
  
  
  • Governmental and Environmental Regime: Not all countries or states are mining-friendly. Political pressures can cause governments to change their policies overnight, from one of openness to one with heavy restrictions and penalties. This is known as political risk. Junior companies that boast rich mineral reserves in a mining-friendly location with low governmental interference are good bets. Organizations such as the Fraser Institute rank the "mining attractiveness" of countries all over the world, and are a good information source for investors. (For more help measuring the risks versus the rewards, read What Is An Emerging Market Economy.)
  • Favorable Commodity Price and Supply/Demand Conditions: The outlook for share prices of junior mining companies can be volatile because these prices are closely related to the supply/demand and price characteristics of minerals. The key drivers of precious metal prices vary for each type. Gold, for instance, is both a commodity and an investment and its price is strongly affected by macroeconomic expectations, inflation, the strength (or weakness) of the U.S. dollar, and holdings of physical gold by consumers and central banks. For silver, platinum, uranium and other metals, different factors are important. Investors can turn to resources such as the World Gold Council, Gold Field Mineral Services, The Silver Institute and the World Nuclear Association to gain a better understanding.

ConclusionJunior mining companies carry more risk than senior mining companies because they explore for new mine deposits. At the same time, their shares are priced more attractively and offer significantly more upside. Investors can profit by selecting those juniors that appear most likely to discover and exploit first-rate reserves in the ground.Remember to look for experienced geologists and engineers, promising properties with historical mineral findings, favorable regulatory and governmental environments, constructive precious metals pricing and supply/demand conditions and strong management teams.