FROM THE BROKING DESK
We'll be hosting an Investor Seminar on the Uranium Market on Friday 2 June at our London office. This will start at 12:00 and will involve:
?EUR? a talk by Adam Christopher from TradeTech on the uranium market;
?EUR? a follow-up Q&A over a sandwich lunch; and
?EUR? a presentation by Mike Young, CEO of Vimy Resources.
We should be finished by 14:00.
TradeTech is the leading independent provider of uranium prices and nuclear fuel market information. Adam's talk will analyse the uranium fuel cycle. Mike's presentation on Vimy Resources will cover the company's development of the 76.8Mlb Mulga Rock Project in Western Australia (targeting 3Mlb pa of U3O8 production over 17 years). The project was approved by the Western Australia Government in 1Q17. Vimy's major shareholders include Resource Capital Funds, the Forrest Family and the Australian institutions Macquarie and Acorn Capital.
Please reply to this e-mail or let your RFC Ambrian contact know if you'd like to attend. We hope that you will be able to join us for what promises to be an informative discussion on an often misunderstood area of the mining market. Places are limited, so do come back to us as soon as possible.
COMPANIES
Amani Gold?EUR ?EUR
ASX:ANL | A$0.04 | US$38m | Speculative Buy
Completes Infill Drilling Programme at the Kebigada Deposit
Amani Gold has reported that it has completed the infill drilling programme at the Kebigada deposit on its 55%-owned Giro Gold Project in the north-east of the DRC. Nearly 11,000m were drilled in 48 RC holes (with an average length of 126m) and 13 diamond drill holes (average length of 283m). Assay results in this announcement came from seven RC holes and two DD holes, including:
?EUR? Hole RC230 - Another good intersection from near the interpreted western boundary of the deposit, returning 46m grading 3.1 g/t, ending in mineralisation. A diamond drill hole has been planned to test the depth extension of this high-grade zone and also provide further information on the zone's structural controls.
?EUR? Hole RC233 - This indicates that the north-east of the deposit remains open to the east and at depth and returned a long interval of 106m grading 1.24 g/t, including 15m @ 2.44g/t.
The company plans to report the remaining holes from the programme within the next two weeks and the maiden mineral resource estimate remains on track for publication by the end of June 2017. Two further diamond drill holes are underway, although their results are expected to arrive too late to be included in the estimate. These are to test the extensions and structural controls on mineralisation under Hole RC230 at the south-western end of Line 400N and the depth potential of an interpreted high-grade shoot on Line 1200N, towards the northern end of the deposit.
COMMENT: Looking beyond June's planned resource statement, the company is planning a 3,500m programme of shallow, scout RC drilling to test geochemical targets around Kebigada, which have the potential to provide satellite feed to any future development.
We note that due diligence by a Hong Kong-based investment company relating to its potential A$25m equity investment (500m shares at A$0.05/share and 250m options exercisable at A$0.07/share for two years) remains ongoing and is planned to be completed by Thursday 25 May.