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INDOPHIL RESOURCES NL - ASX: IRN
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Description
Indophil Resources NL is an Australian publicly-listed company, incorporated in 1996, to acquire, explore for and develop gold and copper-gold opportunities in the Asia-Pacific region. Indophil's team is highly-experienced and successful in minerals development, with specialisation in the Philippines.
The Company's focus has been the development of the world-class Tampakan Copper-Gold Project in the southern Philippines. Indophil owns 34% of the Tampakan project, and has arrangements in place to lift that stake to 37.5%. The remaining 62.5% is held by Xstrata Copper, with the combined interests being managed through Sagittarius Mines Inc. on behalf of the Philippine Government and the people of the Philippines.
TAMPAKAN COPPER-GOLD PROJECT
The Tampakan Copper-Gold Project (Tampakan Project) is located approximately 50km north of General Santos City , a major growth centre on the southern Philippines island of Mindanao. General Santos has a population of approximately 500,000 and is accessed by sealed highways, a major deep water port and an international standard airport with the capacity to take commercial aircraft.
With a recently updated (December 2007) measured, indicated and inferred resource estimate, of 2.4 billion tonnes at 0.6% copper and 0.2 g/t gold at a 0.3% copper cut-off grade, carried out under JORC reporting guidelines, the Tampakan deposit represents the largest undeveloped copper-gold deposit in the South East Asia - Western Pacific Region. This resource contains 13.5 million tonnes of copper metal and 15.8 million ounces of gold. Significant additional mineralisation potential exists.
The Tampakan Copper-Gold Project was the subject of a Pre-Feasibility Study (PFS) by Indophil and then an Extended PFS by Xstrata Copper into mine development. Xstrata`s Final Feasibility Study into project viability is expected to have been completed during the second quarter of 2010. In summary, the Tampakan Project is proving to have robust economic outcomes using conservative price inputs and based on a preferred large scale open pit option producing copper concentrates with associated gold.
On 1 April 2007, Xstrata assumed the role of project manager following exercise of the option to purchase 62.5% of the share in Sagittarius Mines, Inc., the operating entity of the Tampakan Project. Indophil holds the remaining 37.5%, and is the subject of a recommended takeover bid from the Zijin Mining Group, China`s largest gold producer and third largest copper producer.
Mine For
gold, copper
Location of operation(s)
Philippines
Address
Level 3, 411 Collins Street
MELBOURNE, VIC, AUSTRALIA
Phone
(03)8620 5800
Website
Last Updated
12/03/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.