Luwumbu step out program on the cards for explorer

摘要

He has been managing director of multi-commodity explorer Goldstream Mining NL for just a short time, but Duncan McBain appears to have a firm handle on company activities and the platinum market's current dynamics. McBain replaced George Kenway, who in late March was appointed managing director of uranium exploration company and Goldstream spin-off, Uranex. Goldstream was a 50.2 percent shareholder in Uranex. It was around the time Goldstream announced its 2006 work program with joint venture partner Lonmin at the Luwumbu and Mibango platinum-group element (PGE) projects in Tanzania. The two joint venture partners are looking to spend 4.5 million US dollars once the wet season has ended -- 2.4 million US dollars and 7,500 metres of diamond drilling at Luwumbu and the remainder to Mibango (5,500m of diamond drilling). Both drilling programs were targeting PGE-rich nickel sulphide mineralisation based on structural analyses and electromagnetic geophysical work.