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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (1615)	2/27/2007 9:08:45 AM
From: LoneClone	Read Replies (1) \| Respond to of 2131

Zambia focus of new local float: Zambezi Resources Source: The Australian metalsplace.com Local investors will get an opportunity to take exposure to exploration in Zambia with the news that London-listed Zambezi Resources is to launch an initial public offering here ahead of a listing on the ASX. Zambezi Resources has always been based in Perth but until now has been listed (since 2004) only on London's Alternative Investment Market. Its flagship project is the Cheowa deposit, a joint venture with Swiss-based Glencore International and which has an initial resource estimate of 1.7 million tonnes at 1.5 per cent copper and 0.5 grams/tonne gold (or 26,000 tonnes of copper and 29,000oz of gold). Its other headliners are the Kangaluwi-Chisawa copper project and some greenfields uranium prospects (which, the company says, may be spun off into a separately listed Australian vehicle). Zambezi says it wants to broaden its shareholder base by bringing in Australian institutions and retail investors, a move that will allow it to increase liquidity in its stock, improve analyst coverage and raise additional exploration money. Zambezi said the resource at Cheowa results from work on 700m of strike length but the deposit remained open beyond the deepest drilling to 200m and the strike length could be as great as 8km in length. Glencore can earn a 51 per cent interest in the project by spending $US10 million on exploration. Drilling at Kangaluwi-Chisawa has returned coppetr grades up to 1.95 per cent copper.