Investments
CAMEC's has an active investment policy and currently hold significant positions in AIM listed White Nile Ltd and Central African Gold Plc.
White Nile - holding: 15.2 million shares
AIM-listed White Nile Ltd was established to identify and acquire projects in the natural resource sector with particular emphasis on oil projects within Africa. It listed on AIM in February 2005 having raised £9 million (US$ 17.20 million) through a placing with institutional investors.
Following the fund rising and listing, a deal with the Government of South Sudan was secured concerning an oil concession known as Block Ba. The transaction gives Nile Petroleum Corporation, the national oil company owned by the new Government of South Sudan, 50% of White Nile Ltd in return for a 60% interest in Block Ba.
CAMEC has invested both management time and finance in White Nile in order to develop its assets and contribute to the future success of the company. Drilling has started in Southern Sudan with the drilling of the Kedelai exploration well in Block Ba, 200 km due north of Juba, in the Jonglei State of Southern Sudan.
White Nile intends to become a leading oil and gas exploration Company focussed on Southern Sudan and the immediate region.
www.whitenile-ltd.comCentral African Gold - holding: 31 million shares
Central African Gold Plc, admitted to AIM in April 2004, was established to acquire gold assets with a geographical focus on Africa. The Company has established a sound portfolio with projects in Ghana, Zimbawe, Mali and Botswana. It has a highly experienced management team, which has worked together for four years managing six underground greenstone gold mining operations and building exploration portfolios.
CAG's portfolio includes the producing Bibiani gold mine and prospecting licences in Ghana, which it acquired from AngloGold Ashanti Ltd, producing assets in Zimbabwe being an 84.7% interest in Falcon Gold Zimbabwe Limited and the entire issued share capital of Olympus Gold Mines Limited, two joint ventures in Mali covering 23 prospective permits and licences in Botswana covering the extension of the Kraaipan greenstone belt from South Africa. The directors are evaluating additional prospects in Africa to establish CAG as a leading mid-tier African gold producer with world class exploration and production assets.
www.centralafricangold.comKatanga Mining Limited - holding: 17.2 million shares
CAMEC holds 17,175,130 common shares of Katanga which, based on publicly available information, represent 22% of the currently outstanding common shares of Katanga. Katanga is a Toronto Stock Exchange listed company, which is currently focusing on the development of copper-cobalt projects in the Katanga Province of the Democratic Republic of the Congo ('DRC'). Katanga is poised to become a significant player in the global mining industry. It operates in the Democratic Republic of Congo, where we have a joint venture with the Congolese state-owned mining company, Gécamines. t is currently rehabilitating and redeveloping a copper-cobalt mine and associated infrastructure near Kolwezi in the Katanga Province to return it to historic production rates. The mine is scheduled to begin production in October 2007, with first copper shipped in December. Katanga is headquartered in London.
CAMEC has built up an investment position in what it believes to be a well run copper cobalt company. This is part of its strategy of gaining exposure to a world class copper cobalt district and identifying opportunities where CAMEC can create value for its shareholders.
www.katangamining.com