Please find below an article from today's The Australian Financial Review for your information -
Eyes on West Africa Iron Juniors
West Africa is again the talk of the iron ore sector. Iron ore hopeful Charter Pacific is expected to release an updated geology report indicating that significant quantities of iron ore and potentially other minerals are present in its mining tenements in Mauritania.
The initial geology report indicated the presence of banded iron formations and investors will be keen to see the results of surveying in an updated report on the junior explorer?s potential.
What is likely to set Charter Pacific apart from other juniors is that these tenements are right next door to those of iron ore hopeful Sphere Minerals ? taken over by Xstrata last November for $514 million ? and the iron ore operations of gold explorer TransAfrika Resources.
Investors will hope that the new suite of West African junior iron ore explorers, including Energio Minerals, can replicate the success of their gold peers. Several of these West Afric! a-focused companies have gold assets that are either in the advanced development stage or just about to come into production, as the gold price continues to soar above US$1600 an ounce.
Fresh from its first gold pour earlier this year, Ghana-focused Adamus has already been linked to speculation of offers from the likes of Canada?s Semafo, Golden Star Resources or perhaps AngloGold. Adamus owns 90% of the Nzema gold operation in the central Ashanti gold belt
AQD Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
