Albidon Limited (Lion 5.7% – indirect)
Summary
| Lion shareholding (indirect): | 33.8 million (held by African Lion) |
| Total investment by Lion: | $3.3 million |
| Date of initial investment: | May 2002 |
| ASX Code: | ALB |
| Area of activity: | Zambia, Botswana, Tanzania, Tunisia and Malawi – Nickel/PGMs |
| Website: | www.albidon.com |
Company
ASX and Alternative Investment Market (AIM – London) listed Australian based resources company, Albidon Limited (Albidon) is an Africa-focused exploration and development company with an emphasis on nickel.
Albidon’s activities have been centred on the Munali Nickel Project located approximately 65 kilometres south of Zambia’s capital city Lusaka. Munali will produce approximately 8,500 tpa of nickel in concentrate from a 900,000 tpa underground mining operation involving straightforward extraction methods and conventional processing technology. Production in the later years is expected to rise to 9,000 tpa of nickel in concentrate.
Following completion of the positive Bankable Feasibility Study in July 2006, and receipt of all required approvals, site work at Munali commenced in September 2006 and is progressing well.
Exploration at Munali throughout 2007 continued to highlight increased resource potential at both the Enterprise orebody and Voyager prospect.
Beyond the Munali Nickel Project, Albidon has a large portfolio of exploration projects for growth in East Africa with tenements in Zambia, Botswana, Tanzania, Tunisia and Malawi. At Albidon’s extensive uranium exploration tenements in Zambia, drilling by joint venture partner African Energy Resources Limited has identified a significant uranium resource at the Njame deposit and uranium mineralisation at the Gwabe prospect, both located within the Chirundu Project. A pre-feasibility study to evaluate the commercial development of the Chirundu Project is currently being conducted.