The most exciting thing about being a pioneer in a new frontier, is simply being there. Being prepared to take a punt, explore and develop opportunities is where the action and ultimate benefits lay.
ROS appears to be at the right place at the right time, kicking tyres with the big boys can only reap benefits down the track for ROS holders. We have management that is truly mining savvy, street wise, creative and hungry for profitable deals.
This is developing (for me at least) into the trade of my lifetime. Yes, the western financial wheels are somewhat shaky, but life, business, growth and future needs have to be met. We are (without doubt) at the right place at the right time to maximise opportunities and reap the benefits.
..... and now Rio in Kazakhstan
Rio Tinto ready to begin exploration Kazakhstan - executive
By SRI ⋅ June 24, 2011 ⋅ Email This Post ⋅ Print This Post ⋅ Post a comment (SRI) - Rio Tinto Group, a British-Australian mining conglomerate, is ready to pursue a joint venture with Kazakh state-owned mining holding Tau-Ken Samruk to explore copper deposits in Kazakhstan, Reuters reported on Wednesday, citing Rio Tinto's general manager for exploration in Central Asia Chris Welton.
"We look at Kazakhstan and say: "The geology's right. It's got great potential and there's been very little modern exploration done" Welton told Reuters.
The company looks to apply modern exploration technologies to uncover undiscovered reserves in the relatively unmapped region.
Rio Tinto is awaiting the approval to begin work on the 50-50 joint venture with Tau-Ken Samruk to explore a region of Kazakhstan, within which it plans to identify target areas for drilling, Reuters reported.
The two companies signed a memorandum of understanding last year, but Kazakhstan has been slow to approve the final agreement, the first for Tau-Ken Samruk.
Rio Tinto, which plans to open an office in the Kazakh capital Astana this year, wants to apply for exploration licenses immediately once it signs the final deal with Kazakhstan, according to Welton. The company will fund exploration until resources and reserves are registered with the Kazakh government, at which point the joint venture partners would fund development of any mine on a pro rata basis.
"If we get a decent-sized, high-quality set of targets, I would've thought we would be looking at a minimum spend of somewhere around $10 million next year," Reuters reported Welton as saying.
Rio Tinto also hopes to start exploration drilling in Uzbekistan this year where it hopes to partner with Uzbek state exploration company Goskomgeologiya.
