We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kiwara | LSE:KIW | London | Ordinary Share | GB0007702953 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 77.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9281T Kiwara PLC 08 May 2008 JSE - KWR AIM - KIW ISIN - GB0007702953 8 May 2008 KIWARA PLC ('Kiwara" or the "Company') Kiwara negotiates Iron Ore JV Kiwara, the Zambian based mining exploration Company, is pleased to announce that Iron Ore, historically identified in the Kalumbila area now forms part of its joint venture agreement with LM Engineering Ltd. Kiwara will pay LM Engineering US$100,000 to add Iron Ore to the joint venture, which currently includes copper, nickel, cobalt, uranium and platinum group metals (PGMs). Highlights: * Iron Ore now integral to the Kalumbila joint venture * Kalumbila concession is known to host significant areas containing Iron Ore. Historic results indicate grades in excess of 60% Fe * The licence area includes large unexplored targets for Iron Ore Previous work done on the concession relating to Iron Ore During the early 1970's, the Yugoslavians targeted what is now the Company's Prospecting Licence 267 area in the Kabompo region of north west Zambia as the source of Iron Ore for their proposed steel mill. This area is known to contain a large number of discrete Iron Ore outcrops with grades ranging between 57% and 69% Fe. The original Prospecting Licence 267 issued to LM Engineering included Iron Ore, in addition to Copper, Nickel, Cobalt, Uranium, PGMs and limestone. However, the original joint venture between Kiwara and LM Engineering excluded both Iron Ore and limestone for which LM Engineering retained the option to develop independently. Kiwara and LM Engineering have entered into an agreement whereby Iron Ore is now included on the same terms as the original agreement. In consideration for this inclusion of Iron Ore, Kiwara will pay LM Engineering Ltd a total of US$100,000 in three instalments payable as follow: US$50,000 immediately, US$25,000 on 31 August 2008 and US$25,000 on 31 March 2009. The Kalumbila joint venture is currently owned 20% by LM Engineering, 5% by Kashengeneke Ltd and 75% by Kiwara's Zambian subsidiary Kiwara Resources (Zambia) Ltd. Following Kiwara's expenditure of US$2,200,000 the Company has the right to an additional 5%. Colin Bird, Chairman of Kiwara plc, commented: "It is well established that the region is highly prospective for Iron Ore. The decision by LM Engineering to include Iron Ore in the JV is a further indication of the strength of team work and common direction of the partners. "The inclusion of Iron Ore has the potential to significantly enhance shareholder value and it is the Company's intention to commence exploration on the Iron Ore targets as soon as is reasonably possible". For further information, please contact: Kiwara Plc Tel: +44 (0)207 581 4477 Colin Bird, Chairman Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899 Investec Bank, Johannesburg Robert Smith Tel: +27 (0) 11 286 7326 Investec Bank (UK) Limited Tel: +44 (0) 20 7597 5000 Gerard Kisbey-Green / Jan Bosch Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3366 Nick Rome This information is provided by RNS The company news service from the London Stock Exchange END JVEUBABRWNRVRAR
1 Year Kiwara Chart |
1 Month Kiwara Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions