Aviva upgrades its Mmamatswe resource

source: Sunday Standard
by Sunday Standard Reporter
23.03.2008 6:28:43 P

Aviva Corporation Limited, the Australia and Botswana listed Energy Company, moved a step further to giving the markets the much needed confidence by saying its resource at Mmamantswe has been upgraded from inferred to indicated.
The move, which shows that the company is close to working on a bankable feasibility study and mining licence, comes at a time when the southern African region is in dire need of energy to power its economies.

“The upgrade of the resource to indicated category allows the company to move ahead with mining studies designed to upgrade the resource to a reserve over the 12 months,” the Chief Executive Officer of Aviva, Lindsay Reed, said.

“This upgrade is a significant milestone for shareholders and provides a greater confidence in the ore deposit,” he added.

According to the latest studies, Mmamantswe indicated resources stand at 1.3 billion tones of coal which is capable of [continue reading]

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