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Bellzone Mining seeks $100m
Tue, 07 Feb, 2012
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Bellzone Mining seeks $100m
Mon, 8 Mar 2010, 17:48:00
West Africa-focused iron ore explorer <b>Bellzone Mining</b> plans to raise $100m and join AIM this spring. Jersey-registered Bellzone owns 100% of assets in Guinea, which have an inferred magnetite JORC resource of 2.4bn tonnes. Bellzone believes that there could be more than 13bn tonnes of magnetite ore in the area. There is a more easily mineable resource which could generate early cash flow for the business. The Kalia iron prospect is 360km east of the coastal capital of Conakry in Guinea. The cash will be used to accelerate the company's drilling programme and to achieve a JORC-based resource. It will also help to complete a Bankable Feasibility Study. Canaccord Adams is nominated adviser and joint broker with Renaissance Capital. www.bellzone.com.au
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