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3Jun 2016

Canadian Overseas Petroleum Limited

Canadian Overseas Petroleum (COPL) is a junior E&P company with a focus on deep water exploration opportunities in Sub-Saharan West Africa. The company’s core asset is a 17% interest in Block LB-13 in Liberia where COPL will be carried through US$120m of exploration expenditure by the operator, ExxonMobil. A high impact maiden exploration well is scheduled to be drilled on Block LB-13 in Q4 2016. COPL also has exciting exposure to prospective exploration assets in Nigeria, Equatorial Guinea and Namibia through its interest in ShoreCan, a 50/50 joint venture with major African conglomerate, Shoreline Energy International.

3Jun 2016

Armadale Capital Mahenge Liandu Graphite Project

High Grade Coarse Flake Graphite Project in Tanzania

Armadale has signed a heads of terms agreement to acquire the Mahenge Liandu Graphite Project (‘Liandu’) in south-east Tanzania.  This acquisition will provide the Company with access to a highly prospective market, with strong demand fundamentals; global demand for commercial graphite is expected to double within the next eight years.  This growth rate is fuelled by developments in the energy storage industry as graphite is a raw material in lithium-ion batteries, making it a key material in smart phones, tablets, laptops and electric cars.

Liandu is located in a highly prospective region with proven coarse flake, high grade graphite resources – ASX listed Kibaran Resources Ltd (ASX:KNL) and Black Rock Mining Limited (ASX:BKT) have both identified and are developing significant proven and valuable graphite projects immediately adjacent to Liandu.  A mineralised trend about 1.6 km in strike length and up to 500m wide has been identified at the project, which remains open at depth, and exploration drilling completed in December 2015 has further confirmed the mineral potential of the licence area, with results including 10m at 6.54% Total Graphite Content (‘TGC’), 24m at 12.9% TGC and 5m at 21.5% TGC.  Armadale is targeting a Maiden Resource estimation in late 2016.

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