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The Australian junior has rolled out its team, raised the necessary cash and is now waiting for the green light from up high to start its cobalt projects in the Congo-K.
Olympic Exploration hopes to have two cobalt and copper exploration permits near Kolwezi, Lualaba, in the bag in the next few weeks. The firm was granted two other concessions to explore these metals in the area just some time ago.
To finance work on the sites, Olympic will be able to use funds recently raised by its parent firm, Australian mining junior Optimal Mining. In June, Optimal drummed up AUD 14 million ($10 million) from Hong Kong metal trader Burwill Holdings, and plans to seek out additional sponsors in the near future.
Optimal's senior management, led by Rod Chittenden, is preparing to go public to fund its various projects. Chittenden is an expert in uranium after working at Paladin Energy's Namibian Langer Heinrich mine, but also in gold, which he prospected for Barrick Gold Corp and Newcrest Mining.
The ground work will be overseen by Australian entrepreneur Peter Tsegas (AMI 401), who founded Olympic with which he explored uranium in Tanzania. Tsegas is also a board member of Magnis Resources, which develops the Tanzanian Nachu graphite project.
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