A copper/cobalt exploration play for 2018 from the same management of $AVZ. Short term is an opportunity is accumulate a position until DD is completed and commencement of their first drilling campaign.
Katanga Copper-Cobalt Project
-----------------------------------------
Subsequent to end of Quarter, an Option secured to earned up to a 70% interest
in three licences collectively, known as “The Katanga Copper-Cobalt Project”
Prospective for copper and cobalt within Roan Group Mine Sequence rock units
within close or reasonable proximity and along strike to either substantial copper
cobalt mines (including the Tenke Fungurume Mine some 50km to the east) or
know mineral occurrences.
Technical teams mobilised to undertake initial field investigations and
exploration planning.
The Tenke Project - PR5468
-----------------------------------------
The area immediately surrounding Okapi’s Tenke Project - PR 5468, contains many deposits renowned
for copper and cobalt deposits and mines including such known projects as: the main Tenke Fungurume
Mine which hosts one of the world’s largest known copper and cobalt deposits; the Fwaulu deposit;
Kansalawile deposit; Kwatebala deposit; Pumpi and Mambilimba deposits.
These are located close to Okapi’s Tenke Project (Map 2) and were all owned or operated by Freeport
McMoran. Freeport sold its 56% stake in the Tenke Fugurume mine, located approximately 40kms due
west of Okapi’s Tenke Project in May 2016 for US$2.65 billion in order to reduce its global debt.
In December 2013 Lundin Mining (a 24% equity shareholder in the Tenke Fugurume mine) reported 2P
Reserves of 141Mt at 2.9% Cu and 0.4% Co and was producing 50,000 tonnes of copper cathode and
3,048 tonnes of cobalt hydroxide per annum.
PR 5468 is also surrounded to the north by PR’s 803 and 804, which are held by GICC SARL (“GICC”).
Also located in the north we can find the MMG Limited (“MMG”) Kinsevere and in the east Mining
Development Investment’s (“MDI”) licence - PR13422.
Corporate
---------------
? Mr. Raymond (Jinyu) Liu appointed to the board
? Okapi well funded - end of quarter Cash Reserves of $4Million
? Subsequent to quarter-end, commitments received for a further $1.5 Million
placement (at $0.70 each)
? 13.98% shareholder Havelock Mining investment (Hong Kong) participating to
maintain their interest in Okapi.
Directors
---------------
Klaus Eckhof, Non-Executive Chairman
Nigel Ferguson, Managing Director
Jinyu (Raymond) Liu, Non-Executive Director
Corporate Snapshot
------------------------------
Top 20 Holders 53% 17M
Remaining Balance 46% 14M
Cash: $6.5M
Katanga Copper-Cobalt Project
-----------------------------------------
Subsequent to end of Quarter, an Option secured to earned up to a 70% interest
in three licences collectively, known as “The Katanga Copper-Cobalt Project”
Prospective for copper and cobalt within Roan Group Mine Sequence rock units
within close or reasonable proximity and along strike to either substantial copper
cobalt mines (including the Tenke Fungurume Mine some 50km to the east) or
know mineral occurrences.
Technical teams mobilised to undertake initial field investigations and
exploration planning.
The Tenke Project - PR5468
-----------------------------------------
The area immediately surrounding Okapi’s Tenke Project - PR 5468, contains many deposits renowned
for copper and cobalt deposits and mines including such known projects as: the main Tenke Fungurume
Mine which hosts one of the world’s largest known copper and cobalt deposits; the Fwaulu deposit;
Kansalawile deposit; Kwatebala deposit; Pumpi and Mambilimba deposits.
These are located close to Okapi’s Tenke Project (Map 2) and were all owned or operated by Freeport
McMoran. Freeport sold its 56% stake in the Tenke Fugurume mine, located approximately 40kms due
west of Okapi’s Tenke Project in May 2016 for US$2.65 billion in order to reduce its global debt.
In December 2013 Lundin Mining (a 24% equity shareholder in the Tenke Fugurume mine) reported 2P
Reserves of 141Mt at 2.9% Cu and 0.4% Co and was producing 50,000 tonnes of copper cathode and
3,048 tonnes of cobalt hydroxide per annum.
PR 5468 is also surrounded to the north by PR’s 803 and 804, which are held by GICC SARL (“GICC”).
Also located in the north we can find the MMG Limited (“MMG”) Kinsevere and in the east Mining
Development Investment’s (“MDI”) licence - PR13422.
Corporate
---------------
? Mr. Raymond (Jinyu) Liu appointed to the board
? Okapi well funded - end of quarter Cash Reserves of $4Million
? Subsequent to quarter-end, commitments received for a further $1.5 Million
placement (at $0.70 each)
? 13.98% shareholder Havelock Mining investment (Hong Kong) participating to
maintain their interest in Okapi.
Directors
---------------
Klaus Eckhof, Non-Executive Chairman
Nigel Ferguson, Managing Director
Jinyu (Raymond) Liu, Non-Executive Director
Corporate Snapshot
------------------------------
Top 20 Holders 53% 17M
Remaining Balance 46% 14M
Cash: $6.5M