Lindian Resources has secured an option to acquire a 51% stake in the high-grade Gaoual bauxite project in the West African country of Guinea that looks like it could be a rare “conglomerate” deposit. Average alumina grades that shoot the lights out at 54%, with a corresponding low silica content under 2%, look to be the goods. Drilling will kick off at the project in December.
Our daily board moves wrap includes Bayanjargal Byambasaikhan, Dan Thomas, Nicholas Day, Geoff James, Natalia Streltsova, Katherine Ostin, and Paul Doropoulos.
Our daily board moves wrap includes Sonu Cheema, Malcolm James, Craig Barnes, John Blower, Jude Turton, Jeffrey Williams, Ashok Parekh, Peter Hunt, Peter Bilbe, Jonathan Price, Peter Rozenauers, Bianca Taveira, Stephen Hewitt-Dutton, Shannon Green, and Steve Formica.
Perth-based explorer Lindian Resources has announced plans to acquire a majority stake in a bauxite mine in Tanzania in a deal worth nearly $2 million, despite recently introduced legislation mandating increased government ownership of local projects and higher royalties on some minerals.
Matthew Wood has resigned as executive chairman and director of Lindian Resources, with current non-executive director Eddie King stepping into the chairmanship.
Serial business fixer Geoff Gander has stepped down from the board of Lindian Resources Ltd, formerly VPH Ltd, after the company closed a recapitalisation float oversubscribed at $1.6 million.
