coking-coal attracts massive investors, page-2

Interesting to see that Tete (which is right next door to RIV) contains medium size IO deposits. Magnetite requires water to float-off the silica and Tete sits right on the mighty Zambezi. I have little doubt the Chinese are watching everything with interest. Overseas mkts and base metals are looking weak. This may be an opportunity to top-up on RIV. it's no use waiting until a TO or buy-in is announced. Most stks are fully priced. one simply has to expect some risk when buying/holding now. The easy gains are gone. But bear-in-mind RIV sits at half it's SP 18 months ago... despite being 18months closer to production. Meanwhile the resource size has doubled.
MM

17 December 2009 @ 02:42 pm BSTNext Markets Article.
Mozambique-focused iron ore, base and precious metals firm, Baobab Resources, will launch an aggressive exploration campaign within the Massamba Group area of its Tete magnetite-ilmenite project in early 2010.


The Massamba Group is composed of a cluster of five prospects including Chitongue Grande and Pequeno, Caangua, Chimbala and South Zone.

The company completed a successful drilling campaign and re-modelling of geophysical data during the first half of 2009, which culminated in the estimation of a 47.7million tonne magnetite-ilmenite Inferred Resource at Chitongue Grande, and a 400 to 700 million tonne Exploration Target interpretation over the wider Massamba Group.

Baobab completed detailed geological mapping and sampling at the South Zone and Chimbala prospects in early November, and commenced a scout drilling programme on 13 November.

The drilling programme, which is expected to be completed by 30 September 2010, includes both diamond and reverse circulation (RC) drilling for a combined total of 12,000m.

To date, three diamond drill holes have been completed in the South Zone area for an aggregate total of 532.5m.

Drilling operations have been suspended due to the onset of the wet season, and are expected to resume in February/March 2010.


Story provided by Business Financial Newswire