Executive Summary
Angus & Ross plc is an exploration and mining company. Its main properties are in Greenland, and it has further exploration interests in Brazil and Australia.The Company's main focus is the Black Angel zinc/lead property in Western Greenland. This was one of the richest zinc mines in the world and closed down in 1990 after 17 years of continuous operation. Advances in mining technology and the steady rise in zinc prices makes the management believe that this mine may be producing again. Angus & Ross also holds 187 sq km of exploration ground around the mine.
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Angus & Ross has a portfolio of mineral licences prospective for Gold, Tantalum and base metals in Australia, Brazil, Canada, China and Greenland.
- Work in Brazil continues to define the Company's Tantalum and Gold prospects in the Matto Grosso area. Initial studies suggest that alluvial production could start within a year, and there are encouraging signs that the hard-rock source of the alluvial material is nearby.
- In Greenland, the Company owns the old Black Angel mine, where at least 2.4 million tons of 12.3% Zinc remain, mostly in the pillars. The Company has started to consider how this mine might be re-activated. Also in Greenland, the Company maintains its interest in its original Tantalum prospect at Motzfeldt, where at least 15 million pounds of Tantalum was identified by its drilling programme in 2002.
- In Australia, the Company owns several exploration licences prospective for Gold, and one mining licence where small alluvial production could start soon. In China the Company has recently announced a Joint Venture on a Gold prospect in TongLing County.
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