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Callabonna Resources Limited

Jeff Williams spoke at the RRS Gold Coast conference in October and was well received

Callabonna Resources is an ASX listed mineral explorer.

The Company's focus is on the development of the Ansongo Manganese Deposit in Eastern Mali, a potentially  low cost manganese oxide lump production asset. 

The Company's directors are experienced in mining, project finance and development, exploration geology and geophysics.

Current Highlights:
  • On 6 May 2014 the Company announced an agreement to acquire an initial equivalent indirect interest of up to 12.1% in the Mali Manganese Project (through an investment in shares in Ansongo Limited). 2.1% of the project was immediately acquired in settlement of debt and another 10% is being acquired by spending on exploration of AUD $3.5 million envisaged to be over 3 years.
  • An important milestone was Ministerial approval to re-start the Ansong operation (August) followed up by a site visit to plan drilling and complete mapping (September).
  • The Project was presented for the first time in Australia at the Resource Rising Star Conference on the Gold Coast on 2 October and was very well recieved (see above).
  • A 280 tonne bulk sample from Ansongo exported to India averaged 36% Mn untreated (ASX 28 July 2014).
  • Eastern Frome Embayment north of Broken Hill NSW - exploration for all metals that includes potential for low operating cost uranium deposits. A recent offer by the NSW govermernt of the right to apply for a Group 11 (U, Th) exploration licence is being reviewed.
  • Georgetown gold properties in far north queensland are being divested by sale.

Ansongo was high on the list of the Company's investment criteria: being low cost operations with preferred commodities including manganese and copper; potential for direct shipping, low capital expenditure, able to repay significant capital in two years and therefore may be financed with minimal dilution to existing share-holders.

For exploration, where there is more risk, this will be managed by clear and affordable steps leading to a proof of the concept.

The board is committed to running on very low overheads and to remain focused on the main development.

Callabonna derives its name from the Callabonna Sub-basin home to several profitable uranium mines in the Frome Embayment area in South Australia. The basin straddles the South Australia-NSW border near Broken Hill.


The Company was listed on the ASX in September 2009 via a merger with MKY. In 2012 the Company changed its name from Callabonna Uranium to Callabonna Resources, relocated the office to Melbourne and Mr Jeff Williams, a mining engineer, joined the board.

 

Location of Ansongo Manganese Project

 


 

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