KEY POINTS
PERKOA JV (Blackthorn Resources 39.9%)
- On-site construction activity and underground mine development and drilling progressed.
- Glencore commenced planning and on-site preparation for the expansion of the Perkoa Project, pending final approval by the JV parties.
MUMBWA PROJECT (Blackthorn Resources 100%)
- Phase 5 drilling program continued with further significant high-grade copper mineralisation reported from infill drill holes at Kitumba and encouraging shallow-depth copper mineralisation from Target A at Mutoya.
- Kitumba Scoping Study initiated.
BURKINA FASO EXPLORATION (Blackthorn Resources 100%)
- Base metals exploration programs commenced on the northern tenements held by Blackthorn Resources, including initiating an exploration targeting project over the Poa and Guido permits with the aim of identifying additional Perkoa style VMS deposits.
- Strategic review of gold exploration rights continued.
CORPORATE
- Cash on hand at 31 March 2012 was $6.2 million.
- Mr Derek Carter appointed a director effective 1 February 2012.
- Interim Financial Report for six months to 31 December 2011 released.
- Managing Director completed an extensive schedule of Investor Presentations in London, Hong Kong and New York.
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