Unique opportunity in Mali

摘要

The company started work in Africa in 2001 when it acquired three properties in the country - Dalakan, Diokeba and Sinzeni. North Atlantic raised 15 million US dollars in 2003 and acquired the Kantela project - in the Sadiola region of western Mali - where it discovered significant gold mineralisation after spending about 2 million US dollars on the project. North Atlantic then acquired its Foulalaba, Tiekoumala and M'Panyala properties in southern Mail during 2004 - known as the FT project - and discovered gold there in 2005 following expenditure of 5 million US dollars. The Massala project was acquired last year, giving North Atlantic a commanding land position in Mali of 1,428sq km. "I think it's incredible how you can spend 5 million US dollars in a country that most people I used to hang out with hadn't heard of and make two gold discoveries," chief executive Jon North said at the Indaba conference.