Globe Metals & Mining (GBE)

Shares / Stock Code

GBE

Stock Exchange / Sharemarket

Australian Securities Exchange

Globe Metals & Mining (GBE) is actively exploring for U3O8 in Malawi, where it has announced a JORC resource at its Kanyika Project. The current mineral resource is 56Mt at 2,600ppm Nb2O5, 70ppm U3O8, 120ppm Ta2O5 and 4,800ppm ZrSiO4. Kanyika has four revenue streams, with the biggest contribution from niobium (Nb). There are two other drill-ready targets: Livingstonia in Malawi and Salta in Argentina, where high-grade U3O8 is confirmed at Don Bosco. Other projects are being advanced in Tanzania and Zambia.

During the fiscal year ended June 30, 2009 (fiscal 2009), The Kanyika Niobium Project in central Malawi was the main focus of the Company. Livingstonia Uranium Project in Malawi is 100%-owned by the Company. A total of 36 percussion drill holes for 4,298 meter were completed on the Chombe, Chiweta and Bunga prospects at Livingstonia in July and August 2008. The Nthalire EPL, in northern Malawi, covers 130 square kilometers and includes Karroo sandstones of the North Rukuru Basin. The Company divested its interest in the Tonco Uranium Project in Salta Province, Argentina, to UrAmerica in fiscal 2009.

GBE is an early-stage exploration company with a specific commodity focus on uranium. Although all of its projects are uranium-based, they are geographically diverse, which somewhat mitigates company risk. Furthermore, its presence in several African countries and Argentina could allow GBE a first-mover advantage to evaluate new projects in respective or nearby countries.

As an explorer, Globe Metals & Mining has no customers at present, however, as part of the Kanyika pre-feasibility study, GBE is actively marketing. GBE competes with other companies involved in uranium exploration such as DYL and ARU.

Globe Metals & Mining History

The first two PLs were granted in Malawi in 1Q06. Soon after GBE announced a greenfields U discovery at Kanyika in central Malawi and reported high-grade mineralisation from Argentina. Kanyika is an exploration success story with the delineation of a significant JORC resource in only two years for minimal cost of A$3M. Mineralisation was recorded at Chombe and significant values from other prospects. A U roll-front discovery was made at Livingstonia. A scoping study for Kanyika is now completed.

Globe Metals & Mining (GBE) Products and Services

  • Uranium & mineral exploration

Globe Metals & Mining (GBE) Locations and Subsidiaries

Globe Metals & Mining Head Office
Ground Floor, Suite 3,16 Ord Street,
WEST PERTH, WA 6005
Phone: 08 9486 1779
Fax: 08 9486 1718

Globe Metals & Mining (GBE) Share Price

Submitted by ASX Listed Company on 27 March, 2010 - 02:25