URU METALS (LON:URU)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £15m
CURRENT PRICE – 1.9p
COMPANY DESCRIPTION
URU Metals is an exploration company focused on the Zebediela Nickle project in South African and the Närke Oil-Uranium Project, located in Sweden.
From Yesterday: Board changes and Zebediela update
NORTHLAND VIEW
David Subotic has stepped down as Chairman of URU Metals and Henry Kloepper has been appointed as the Company's Executive Chairman. Mr Subotic is stepping down from all his public company directorships as a requirement of the fund management company he works for.
Mr Kloepper is currently CEO of Captor Capital Corporation (formerly NWT Uranium Corporation), the Company's largest shareholder. He was also non-board CEO of Frontier Lithium.
Mr. Kloepper has worked in investment banking and structured finance throughout a 30 year career. He has held executive positions with JP Morgan, Citibank, Bank of America, and North American Trust, in Canada, the US and Europe.
URU has also completed its first hole (Hole Z017) at the Zebediela Nickel Project, located in South Africa. Assay results are expected in due course. Additional drilling is currently underway as part of this 1,500m drilling campaign.
URU’s new Chairman, Henry Kloepper, will manage the ongoing technical operations of the Zebediela Nickel Project and conclude negotiations for the expected acquisition of lithium projects that were identified by Henry in his previous role as an advisor to the Board.
SECTOR – MINING
RATING – SPECULATIVE BUY*
MARKET CAP – £6.5m
CURRENT PRICE – 1.7p#
COMPANY DESCRIPTION
Botswana Diamonds is a diamond focused exploration company that has a joint venture within diamond major Alrosa in Botswana, an interest in the Maibwe discovery also located in Botswana and an interest in 10 prospecting rights covering 50,000ha of ground that contains 20 kimberlites, located in North-West and Free State Provinces of South Africa.
From Yesterday: Frischgewaagt update
NORTHLAND VIEW
Botswana Diamonds has recovered 223 microdiamonds from 160 kg of kimberlite drill core from the Frischgewaagt Project, located in South Africa.
The microdiamond population has been modelled at an estimated grade range of 20 to 270 cpht. The wide range in estimated grade is a result of the small sample size. The kimberlite sampled came from the nine holes drilled on the project.
The 40 km programme of ground based geophysics is nearing completion on both Frischgewaagt and the adjoining properties.
A second drill programme at Frischgewaagt is expected to commence next month.
A positive update from Botswana Diamonds’ South African Project, Frischgewaagt. The programme is in its early stages and the initial estimate of grade is wide ranging but there is clearly the potential for a very interesting project. Further work is well justified to increase the volume of samples and refine the grade estimate.