Executive Summary

Albidon Limited was established in April 2000 to acquire mineral exploration and development projects in Africa, with an emphasis on nickel. Albidon successfully listed on AIM and ASX on 25 & 26 March 2004 having raised a total of $15 million to develop its portfolio of nickel-platinum exploration projects in southeastern Africa and copper-gold and zinc-oxide projects in north Africa. These prospects range in degree of maturity from the Munali nickel deposit in Zambia where a mineral resource has been defined, through projects with mineralized drill intersections (such as Tati in Botswana) to large licence holdings which cover prospective ground with no drilling to date. The Directors believe that the east African projects have potential for discovery of substantial nickel sulphide deposits, and further that they represent a unique regional exploration opportunity in a relatively unexplored segment of the globally significant ???Grenville Belt'. The Grenville Belt is important because it has recently yielded discoveries of large nickel sulphide deposits in rocks known as ???mafic intrusions', such as Kabanga in Tanzania and Voisey's Bay in Canada. Albidon's attention in the past three years has been focused on establishing exploration projects on most of the known occurrences of similar rocks in east Africa.

 

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