Discovery bullish on Maun Copper Mine
Tuesday, March 02, 2010
The company's primary asset is Botswana's Boseto copper project, which has a total resource of 60,4-million tons of copper, with a grading at 1,4 percent and 19,5 g/t silver. Canadian miner Hana Mining, which operates the Ghanzi copper/silver project in the district, is also exploring this area.The company also has a nickel project south-east of Boseto. The Dikoloti nickel mine has a current resource of 4,1-million tons inferred at 0,7 percent nickel, 0,5 percent copper and 1,2 g/t platinum group elements. Australian brokerage house RBS Morgans reports that Discovery Metals is a "strong fundamental story, going unrecognised in a buoyant copper price environment".
In a mining research report, corporate broking house West-house Securities, of London, says: "Discovery has plenty of exploration upside with only 5 percent of the 1 300 km of its Kalahari copper belt licence having been explored." Discovery Metals is yet to complete the bankable feasibility study (BFS) for its Boseto copper project.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....