Armadale Capital - 85% strike rate from drilling Tanzania
ACP
Wed, 26 Oct 2016, 02:15pm BST
Armadale Capital is currently assessing a number of projects operating in the natural resources and related sectors in Africa. The Company will consider investing in projects which the Board believes could generate near term cash flow and value for Armadale and its shareholders.
The Board believes that this is an opportune time to be seeking new investment opportunities and will utilise its proven experience in identifying and developing resource projects in Africa to enhance the growth prospects of the Company.
Industry: Utilities
Contact:
Charles Zorab, Company Secretary, provides an update on the successful drilling program at the graphite asset in Tanzania. The company is seeing high-grade coarse flake graphite mineralisation that is near surface, implying relatively low extraction costs.
