Australian Mines Limited
ASX:AUZ ISIN:AU000000AUZ8
Australian Mines’ key asset is its extensive 100%-owned tenement holding in Nigeria’s northwest gold province that contains similar geology to the better known gold producing countries of Ghana, Cote d’ivoire and Burkina Faso – where a combination of advanced exploration and development programs is leading to rapidly expanding output.
Nigeria has a history of gold production and the majority of Australian Mines’ tenements contain historic artisanal workings.
The Nigerian Government, which is democratically elected, is actively encouraging foreign investment into the country’s mineral sector. The Nigerian Minerals and Mining Act 2007 guarantees security of tenure and the right of explorers to convert exploration licences into Mining Leases following the delineation of an ore resource. Australian Mines has commenced systematic exploration of its highly-prospective Yargarma, Kasele, Kagara and Tsauni project areas, with this program being fully-funded through to 2014.
News
Australian Mines Limited (ASX:AUZ) Commences High Resolution Aeromagnetics in Nigerian Gold Province
Australian Mines Limited (ASX:AUZ) is pleased to announce it has commenced high-resolution aeromagnetic surveys across its 100%-owned Yargarma and Kasele project areas, located within the West African gold province of northwest Nigeria.
Australian Market Report of November 15, 2010 includes: OneSteel Limited (ASX:OST) is to acquire the Moly-Cop and AltaSteel businesses to focus on the mining consumables sector; Citigold Corporation Limited (ASX:CTO) is to develop the Charters Towers mining area in Queensland with Anhui Geology and Mining Investment Co. Ltd.; Australian Mines Limited (ASX:AUZ) announced the acquisition of Nigerian gold project; Kentor Gold Limited (ASX:KGL) successful raised A$65.2 Million to fund Andash Gold-Copper Project in Kyrgyz.
AUSTRALIAN MINES LIMITED (ASX: AUZ) - Small Caps Forum<br/>Market Briefing Mr Brett Young & Mr Ernie Poole; Boardroomradio is pleased to announce that AUSTRALIAN MINES LIMITED (ASX: AUZ) has published
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