Baobab Resources (LON:BAO) - Tete resource rises to 725m
Feb 25th 2013 - Edison Investment Research today published a report on Baobab Resources (BAO.L, LSE:BAO, LON:BAO) entitled "Tete Resource Rises To 725m". In summary, the report says:
Baobab released an updated JORC-compliant resource estimate for its 85%-owned Tete pig iron project in Mozambique. The project’s global resource base was expanded by 9% to 725Mt grading 34% iron on the back of the infill drilling at Rouni North and Tenge blocks undertaken in 2012. In addition, some 152Mt of inferred resources was converted into indicated, which now stands at 21% of the overall tonnage. Earlier, the company announced that the PFS work at Tete was almost complete, with results to be announced in the next few weeks.
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