Africo Resources Ltd. (“Africo”) (TSX:ARL) is pleased to announce that it has retained MDM Engineering to review and update its planned increased throughput design update and cost revalidation of the Feasibility Study for our Kalukundi project, located in the Katanga Province of the Democratic Republic of Congo (DRC), which borders Zambia to the South.
In May 2006, MDM completed the initial Feasibility Study, based on a throughput of 800,000 tonne per annum plant. Africo has now requested that MDM complete a review and cost update for the Feasibility Study and the Front End Engineering Design (FEED) that was previously completed. The review will be based on the throughput of 1.25 million tonnes per annum that was evaluated during the FEED.
Tel: +1(604) 646-3225
Chief Financial Officer
Tel: +1(604) 646-3225
Africo Resources Ltd. is a Canadian mineral company engaged in developing, acquiring and exploring for base metal and gold assets in Africa. The company’s main project is Kalukundi, a development stage copper-cobalt deposit located in the Katangan Copperbelt in the Democratic Republic of Congo (DRC). The development team has an operational base in the DRC, with the company corporate offices located in Vancouver, Canada.
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Africo expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Africo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Africo’s management on the date the statements are made. Other than as required by law, Africo undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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