KEY POINTS
PERKOA JV (Blackthorn Resources 39.9%)
- Onsite construction activity and underground mine development and drilling continued in-line with expectations.
- First development ore produced from the underground workings.
- Conditional approval given by the Board to participate in the expansion of the Perkoa Project, with funding for the Company’s pro-rata share of incremental investment to be available via project financing provided by Glencore.
MUMBWA PROJECT (Blackthorn Resources 100%)
- Phase 5 drilling program continued with significant high-grade copper mineralisation reported from infill drill holes at Kitumba and exciting shallow-depth copper mineralisation from Target A at Mutoya.
BURKINA FASO EXPLORATION (Blackthorn Resources 100%)
- Base metals exploration program developed with a focus on the northern tenements held by Blackthorn Resources.
- Three-year renewals granted for SEBOUN and SEPAOGO exploration permits.
- Strategic review of gold exploration rights being undertaken.
CORPORATE
- Cash on hand at 31 December 2011 was $10.7 million
- Annual General Meeting held on 25 November 2011.
For further information please download PDF below:
