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Excellent results at Opuwo Cobalt prompt Celsius Resources to look at ore processing options

Excellent results at Opuwo Cobalt prompt Celsius Resources to look at ore processing options

The Australian prospector digging for cobalt, copper and gold in the Kaokoveld, Celsius Resources Limited, stated at the end of January that it has obtained excellent results from the Chirumbu drill site with 13 samples showing gold of above 1g/t and 37 samples with copper of more than 1% mineralisation.

These results were achieved during the last quarter of 2019 as the company consolidated and realigned its extensive drill programme at existing sites, at the same time extending its rock sampling in the broader Opuwo Project to gain a better understanding of vein structures.

“During the Quarter excellent results were returned from sampling at Chirumbu with 13 samples above 1g/t gold and 37 samples > 1.0% copper . These included peak values of 56.9g/t gold in sample AR022 and 36.9% copper in AR112,” the company stated in its investor update released on 30 January 2020.

“Mineralisation at the Chirumbu Gold-Copper Prospect has previously been determined to be hosted in carbonate-quartz veins and systematic rock chip sampling of outcropping and sub-cropping veins was completed to provide an increased sample coverage to provide a more robust interpretation for the orientation of mineralised structures at Chirumbu.”

Celsius Resources is focussing its exploration activities on two zones to improve its understanding of the spatial relationship of the identified mineralised veins.

“During the Quarter Celsius continued exploration activities focused on locating potential feeder zones for the Opuwo Cobalt Deposit. The aim is to identify higher grade zones which would enhance the viability of the Opuwo Cobalt Project.”

In the meantime, Celsius has appointed HiSeis Pty Ltd to determine the potential success for seismic scans by reviewing stored drill cores to determine if specific areas contain enough hard rock to act as a seismic deflector. HiSeis will start this survey during February.

Preparing for limited mining as allowed under the company’s four Exploratory Prospecting Licenses, Celsius said it has received tenders from independent mineral processing companies in Australia, South Africa, North America and Europe. A final recommendation will be made soon to the board after evaluation and adjudication.

Although Celsius has stopped intensive on-site test work, it continues with trade-off studies to improve the project’s overall viability, stating that is has recently received the results of an OPEX and CAPEX study to determine the advantages of locating some or all of the processing facility closer to the harbour at Walvis Bay.


 

About The Author

Daniel Steinmann

Brief CV of Daniel Steinmann. Born 24 February 1961, Johannesburg. Educated at the University of Pretoria: BA, BA(hons), BD. Postgraduate degrees are in Philosophy and Divinity. Editor of the Namibia Economist since 1991. Daniel Steinmann has steered the Economist as editor for the past 29 years. The Economist started as a monthly free-sheet, then moved to a weekly paper edition (1996 to 2016), and on 01 December 2016 to a daily digital newspaper at www.economist.com.na. It is the first Namibian newspaper to go fully digital. Daniel Steinmann is an authority on macro-economics having established a sound record of budget analysis, strategic planning and assessing the impact of policy formulation. For eight years, he hosted a weekly talk-show on NBC Radio, explaining complex economic concepts to a lay audience in a relaxed, conversational manner. He was a founding member of the Editors' Forum of Namibia. Over the years, he has mentored hundreds of journalism students as interns and as young professional jourlists. He regularly helps economics students, both graduate and post-graduate, to prepare for examinations and moderator reviews. He is the Namibian respondent for the World Economic Survey conducted every quarter for the Ifo Center for Business Cycle Analysis and Surveys at the University of Munich in Germany. He is frequently consulted by NGOs and international analysts on local economic trends and developments. Send comments to daniel@economist.com.na

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.