News Article | February 21, 2017
TORONTO, ONTARIO and MUNICH, GERMANY--(Marketwired - Feb. 21, 2017) - TANTALEX Resources Corporation (CSE:TTX)(CSE:TTX.CN)(FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), is pleased to announce that it has awarded a mandate to perform a high resolution airborne gradient magnetic and radiometric survey to New Resolution Geophysics (NRG) of Pretoria, South Africa for its Buckell Lithium Project. The survey will cover a surface area of approximately 920 km2 and include approximately 4,500 linear kilometers of flight path and aims at identifying the LCT pegmatite extensions along strike from the neighboring historic Manono-Kitotolo deposit. This airborne survey is the first step towards implementing the work program defined in the NI 43-101 Technical Report submitted on January 25th, 2017 and will enable the Company to identify optimal drill locations to plan the next phase of drilling. Dave GAGNON, Chief Executive Officer offers, "We are very excited to begin work on the Buckell property and to uncover its true nature. NRG are a recognized contractor in this region and particularly in the DRC where they have flown more than 300,000 linear km since 2005. Furthermore, we have a very knowledgeable and experienced exploration team that will be leading our resource definition program." TANTALEX is a mining company engaged in the acquisition, exploration, development and distribution of Lithium, Tantalum and other high-tech mineral properties in Africa. The Company is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0). The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise. The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. For further information, please contacts Investor relations: firstname.lastname@example.org Or visit us at: WWW.TANTALEX.CA
News Article | February 15, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF) announced today that it has received the fourth installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co., Ltd. as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in Kamoa Holding Limited that holds the interest in the Kamoa-Kakula copper discovery, now being jointly developed by Ivanhoe and Zijin in the Democratic Republic of Congo. Zijin - through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - agreed to pay US$412 million for a 49.5% interest in Kamoa Holding Limited. Zijin paid an initial US$206 million at closing in December 2015, followed by the payment of the first three of five scheduled US$41.2 million installments in March, July and October of last year. Following the signing of a partnership agreement with the DRC government in November 2016, Ivanhoe and Zijin Mining now each hold an indirect 39.6% interest in the Kamoa-Kakula Project, Crystal River Global Limited holds an indirect 0.8% interest and the DRC government holds a direct 20% interest. Kamoa Holding Limited continues to hold an 80% interest in the Kamoa-Kakula Project. After the receipt of the fourth installment from Zijin, Ivanhoe's consolidated working capital is approximately US$355 million (C$467 million). The fifth and final US$41.2 million installment payment is due on May 23, 2017. The installment payments are secured by a pledge of shares of Kamoa Holding Limited with proportionate releases of the security on the pledged shares following receipt of each installment payment. Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula copper discovery on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this news release may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, the payment by a subsidiary of Zijin of the fifth installment payment of US$41.2 million on May 23, 2017. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Mines to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Mines' current expectations regarding future events, performance and results and speak only as of the date of this news release.
News Article | February 15, 2017
HENDERSON, Nev.--(BUSINESS WIRE)--Aldec, Inc. announced today the latest release of its mixed-language Design Rule Checking (DRC) and Clock Domain Crossing (CDC) verification platform, ALINT-PRO™ 2017.01, a unified framework for static rule-based verification of VHDL and Verilog/SystemVerilog RTL designs targeting FPGAs and ASICs. “Designers cannot afford to have repetitive RTL coding mistakes slipping through undetected to the very late stages of the design cycle,” said Sergei Zaychenko, Aldec Software Product Manager. “The latest release of ALINT-PRO helps designers and managers ensure a methodical use of design rule checking and CDC verification within a single platform, to uncover hidden bugs and confine non-deterministic defects the same day they were introduced into the design.” The latest ALINT-PRO release completely replaces previous Aldec DRC solution, ALINT™, providing a natural verification flow, and numerous usability, performance and quality enhancements. Existing users of ALINT are advised to migrate to ALINT-PRO until the end of 2017. The upgrade is free of charge for customers having a valid ALINT maintenance contract. A set of automated migration scripts for projects, preference settings, rule policies and waivers are already built-in into ALINT-PRO. Aldec will provide extensive migration assistance through the Customer Support channel. ALINT-PRO™ is a design verification solution for RTL code written in VHDL, Verilog and SystemVerilog, which is focused on general issues analysis, including: RTL and post-synthesis simulation mismatches, design coding for optimal synthesis, avoiding problems on further design stages, coding for portability and reuse, and advanced CDC verification for FPGA and ASIC designs. The solution performs static analysis based on RTL and SDC™ source files, uncovering critical design issues early in the design cycle, which in turn reduces design signoff time dramatically. The 2017.01 release of ALINT-PRO includes numerous new features, usability enhancements and performance optimizations. For additional information, tutorials, free evaluation download and What’s New Presentation, visit https://www.aldec.com/Products/ALINT-PRO. Established in 1984, Aldec is an industry leader in Electronic Design Verification and offers a patented technology suite, including: RTL Design, RTL Simulators, Hardware-Assisted Verification, SoC and ASIC Prototyping, Design Rule Checking, IP Cores, Requirements Lifecycle Management, DO-254 Functional Verification, Embedded Solutions and Military/Aerospace solutions. www.aldec.com
News Article | February 15, 2017
Two-time National Basketball League (NBA) Most Valuable Player (MVP) Steph Curry will be a featured speaker at Liberty University Convocation on March 1, as part of a Kick’n It for Africa Humanitarian Partnership. Curry is considered by many basketball analysts to be the best shooter in the history of the game — he holds the record for most three-pointers made in a single NBA game (13 on Nov. 7, 2016) and broke the NBA record for most three-pointers made in a regular season three times (272 in 2012-13, 286 in 2014-15, 402 in 2015-16). He won an NBA championship with the Golden State Warriors in 2015. Curry was awarded the NBA MVP in back-to-back seasons, last year becoming the first player in league history to be selected for the honor by a unanimous vote. Kick’n It is a lifestyle brand founded by Liberty alumnus Chris “COSeezy” Strachan that utilizes pop culture and sneaker fashion to empower community service efforts. Strachan’s relationship with Curry — who is on Kick’n It’s advisory board — was instrumental in bringing the NBA star to Liberty. On March 1, Kick’n It will team up with another initiative, started by Liberty graduate student Emmanuel Ntibonera, a native of the Democratic Republic of the Congo (DRC). Ntibonera collects tennis shoes to send to less fortunate individuals in his home country. Liberty is asking students to bring a pair of shoes to donate to the cause on March 1. Additionally, Curry’s sponsor, Under Armour, will donate 1,000 pairs of children’s shoes. Liberty will deliver the shoes as part of a service trip to the DRC this summer. While Curry has not spoken at Convocation before, his wife, Food Network celebrity chef Ayesha Curry, was a featured guest last November. Curry’s younger brother, Seth Curry — currently of the NBA’s Dallas Mavericks — played his first collegiate season at Liberty, where he led all freshmen nationally in points per game and broke the Big South Conference single-season scoring record for a freshman. Convocation, held three times a week, is the world’s largest weekly gathering of Christian students. It provides a unique platform for Liberty students to hear from an array of educational and inspirational speakers. Convocation begins at 10:30 a.m. and can be viewed live at Liberty.edu/Watch. About Liberty University Liberty University, founded in 1971, is the largest private, nonprofit university in the nation, the largest university in Virginia, and the largest Christian university in the world. Located near the Blue Ridge Mountains on more than 7,000 acres in Lynchburg, Va., Liberty offers more than 500 unique programs of study from the associate to the doctoral level. More than 250 programs are offered online. Liberty’s mission is to train Champions for Christ with the values, knowledge, and skills essential for impacting tomorrow’s world.
News Article | February 15, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 13, 2017) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) ("Monument" or the "Company") announces it has entered into a Memorandum of Understanding (the "MOU") with Klaus Eckhof and Mines D'OR SARL, a company incorporated in Democratic Republic of Congo ("DRC"), (together the "Vendor") to acquire a 60% interest in Bisie North Tin and Gold Prospect ("Bisie North") and an Exclusive Option to acquire a further 30% interest in Bisie North at its sole discretion. This is an additional move in exploring opportunities for potential large precious metal and other base metal projects in the DRC and elsewhere over recent years. The tenement of Bisie North is registered under Mines D'OR and controlled by Klaus Eckhof. Bisie North is located in the Walikale District of North Kivu in the Democratic Republic of Congo ("DRC"), adjacent to the North of the Bisie Tin Project. In 2012 and 2013, Klaus Eckhof vended the Bisie Tin Project as a new promising tin discovery into a TSX-V listed company - Alphamin Resources Corp., which has now become one of the highest grade Tin projects in the world close to construction stage. The mineralization structure and trend of the Bisie Tin Project opens to the northern boundary at Bisie North and it is highly likely could continue onto Bisie North. As the region is underexplored and these type of deposits occur in clusters, Bisie North is highly prospective. A NI 43-101 report for Bisie North is presently in preparation. Within the region where Bisie North is situated, historic gold mining activities were carried by former Belgium Congo operators and artisanal miners prior to establishment of DRC. Under the MOU, the Company will pay US$100,000 in cash and issue 10,000,000 Monument shares to the Vendor for the 60% interest in Bisie North and an Exclusive Option for another 30% interest in Bisie. Should Monument choose to exercise the Option in acquiring a further 30% ownership within the next 6-month period, an additional 20,000,000 shares will be issued to the Vendor. Closing of the transaction is subject to certain conditions including completion of due diligence and a definitive agreement, and obtaining the Board and TSX-V approvals. Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 240 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. The Company has also been looking in other countries seeking potential opportunities for larger resources, including the Democratic Republic of the Congo ("DRC"). FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
News Article | February 15, 2017
NOT FOR DISSEMINATION IN THE UNITED STATES Loncor Resources Inc. (the "Company") (TSX:LN) is pleased to announce a non-brokered private placement of up to 1,500,000 units of the Company (the "Units") at a price of Cdn$0.13 per Unit for gross proceeds of up to Cdn$195,000. Each such Unit is to be comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.18 for a period of two years. Closing of this financing (the "Financing") is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals. The Company intends to use the proceeds from the Financing for general corporate purposes. All securities issued in connection with the Financing will be subject to a hold period of four months plus a day from the date of closing and the resale rules of applicable securities legislation. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. Loncor Resources Inc. is a Canadian gold exploration company focused on two projects in the Democratic Republic of the Congo ("DRC") - the Ngayu and North Kivu projects. The Company's Ngayu exploration permits cover 2,077 km2 of the Ngayu Archaean greenstone belt in Orientale province in the northeast DRC and is its main focus. The North Kivu exploration permits cover a contiguous area of 13,210 km2. Both projects have historic gold production. Additional information with respect to the Company's projects can be found on the Company's web site at www.loncor.com. Cautionary Note Concerning Forward-Looking Information This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the closing of the Financing) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to complete the proposed Financing, the need to satisfy regulatory and legal requirements with respect to the proposed Financing, risks related to the exploration stage of the Company's properties, the possibility that future exploration or development results will not be consistent with the Company's expectations, failure to establish estimated mineral resources (the Company's mineral resource figures are estimates and no assurances can be given that the indicated levels of gold will be produced), changes in world gold markets or equity markets, political developments in the DRC, uncertainties relating to the availability and costs of financing needed in the future, gold recoveries being less than those indicated by the metallurgical testwork carried out to date (there can be no assurance that gold recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production), fluctuations in currency exchange rates, inflation, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting drilling results and other geological data and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual report on Form 20-F dated March 30, 2016 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
News Article | February 15, 2017
- $3 billion in tax revenues generated by Mutanda and KCC since Fleurette's initial investment - Fleurette invested over US$0.5 billion in the Mutanda mining project - Mutanda operating consistently at full capacity of over 200,000 tonnes of copper p.a. - the right time to exit KINSHASA, DEMOCRATIC REPUBLIC OF THE CONGO--(Marketwired - Feb. 13, 2017) - Fleurette Group ("Fleurette") is delighted to announce it has completed the sale of its 31% stake in Mutanda Mining Sarl ("Mutanda") to Glencore. Fleurette has also exited its remaining 11.05% shareholding in Katanga Mining Limited ("Katanga"). The consideration for the Mutanda shares and the Katanga shares has been determined based on an independent analysis by BMO Capital Markets of the value of the Mutanda and Katanga shares for the purposes of the transaction. The consideration for the Mutanda shares is US$922 million and the Katanga Shares is US$38 million. The net aggregate cash consideration to be paid by Glencore in respect of the transactions is $534 million after taking into account the settlement of outstanding loans payable by Fleurette to Glencore and shareholder loans owed to Fleurette by Mutanda. The sale of Fleurette's stake in Mutanda ends its equity interest in what is now one of the leading mining assets in the African Copperbelt, following a period of extensive investment and operational improvement by the partners. Fleurette's success with Mutanda, which has now reached its full operational capacity, highlights its ability to identify an opportunity, bring together the right parties and fully commit over the long term to building a flagship mining asset in a challenging environment, creating thousands of jobs and significant revenue for the DRC. Fleurette has invested over $500 million in the acquisition and development of Mutanda, resulting in a huge boost to production, and in turn, significant revenues to the DRC State in the form of taxes and royalties. During Fleurette's involvement, employment of local Congolese has tripled and production has reached nameplate capacity, more than tripling from just over 60,000 tonnes of copper, to 213,000 tonnes of copper in 2016. Mutanda has also made extensive investments into the surrounding local community, as well as creating a flourishing micro economy around the mine site. Mutanda and KCC (Katanga's DRC subsidiary) have generated some $3 billion in tax revenues since Fleurette's initial investment, providing a huge boost to the DRC Treasury. Fleurette has helped build a true DRC mining champion in Mutanda and shown how long-term commitment and huge investment can create significant value for the DRC people and all stakeholders. Mutanda highlights the positive benefits the resources industry can deliver to a local economy. "We are extremely proud of what we have achieved at Mutanda. Together with Glencore, Fleurette has enabled the mine to deliver on its full potential and it has become one of the largest taxpayers in the DRC. We have shown we can make massive investment decisions in challenging, complex operating environments, and expand great assets which in turn provide huge benefits to the people of the DRC. Mutanda and KCC have generated $3 billion in tax revenues since our investment - a significant contribution to the DRC economy. With the mine now operating at full capacity, we feel now is the right time to exit our investment and to re-invest in further brown and greenfield opportunities. "The resources sector is core to the on-going development of the DRC. I call on the international mining community to look at the opportunity in the DRC. It is only through the involvement of the international investment community and the resources sector sharing its expertise that the country can capitalise on its resources heritage. We remain committed to the DRC and will continue to re-invest into the country as we have done for the last 20 years." Fleurette has also exited its remaining shareholding in Katanga through the $38 million share sale to Glencore of 195,440,700 Katanga shares. Having originally invested in Katanga in 2007 at a share price of up to C$18 per share, Fleurette will have exited its shareholding in Katanga at a loss of over $190m since 2007. As part of the transactions, Glencore also acquired 15,325,000 shares in Katanga which were held as security for a loan provided to Fleurette's wholly-owned subsidiary Ruwenzori Limited. The Fleurette Group of Companies ("Fleurette") is an entrepreneurial business with significant investment in diverse sectors, including natural resources, infrastructure, agriculture and technology. Fleurette has substantial investments and operations in the Democratic Republic of Congo (DRC). The parent company of the group, Fleurette Properties Limited, is owned by Line Trust Corporation Limited strictly and solely as trustees of the Ashdale Settlement, a trust established in 2006 for the benefit of the family of Dan Gertler. Mr Gertler is a citizen and resident of Israel and the DRC (and honorary counsel to the DRC) and is committed to developing the country's natural resources and infrastructure, while investing in the Congolese people and their communities. Fleurette has a proven track record of successful co-operation with diverse parties, including the DRC State-owned mining company Gécamines, and to date has brought more than USD $7 billion of investment into the DRC, on top of its USD $2 billion in private investment. As a result, Fleurette's subsidiaries and partnerships support around 30,000 jobs in the DRC and are amongst the DRC's leading taxpayers, contributing significant revenues to the State. Fleurette is also a major contributor to social development in the DRC through the Gertler Family Foundation (GFF) and through direct investment in social infrastructure. The GFF is the largest charitable organization in the DRC, funding more than 50 programs and projects across the DRC, which help tens of thousands of Congolese every year. These include rebuilding key hospitals, notably the Kisangini "Hospital du Cinquantenaire"; supporting the Operation Smile campaign in Lubumbashi and Kinshasa; rebuilding Blaise Pascal School in Lubumbashi; and supporting the Lubumbashi Zoo. The consideration for the Mutanda shares is US$922 million and the Katanga shares is US$38 million. The Katanga shares were purchased for a purchase price of US$0.19285 per share, equating to C$0.25214 per share. Fleurette and its affiliates owe Glencore outstanding loans, secured over the Mutanda shares, amounting to US$556 million of which US$120 million comprises accrued interest. In addition, Glencore has acquired shareholder loans owed to the Fleurette group by Mutanda in the amount of approximately US$130 million. Accordingly, the aggregate cash consideration payable by the Glencore group in respect of the transactions is US$534 million. On February 13, 2017, Lora Enterprises Limited (Lora), Palm Grove House, PO 438, Road Town, Tortola, British Virgin Islands, and Breton Global (Breton), Palm Grove House, PO 438, Road Town, Tortola, British Virgin Islands, two companies controlled by Line Trust Corporation Limited, in its capacity as Trustee of The Ashdale settlement (the Trust), and as such, joint actors, transferred to Glencore International AG (Glencore) ownership of 164,252,139 Common Shares and 31,188,561 Common Shares, respectively, pursuant to a private agreement (the Sale Disposition). The aggregate of 195,440,700 Common Shares transferred by Lora and Breton (the Sale Shares) pursuant to the Sale Disposition were transferred to Glencore pursuant to a share purchase agreement, dated February 13, 2017. On the same date, Ruwenzori Limited (Ruwenzori), 4th Floor, Harbour Centre, P.O. 613 George Town, Grand Cayman, Cayman Islands, a company controlled by the Trust, and as such, a joint actor, transferred to Glencore Finance (Bermuda) Ltd (Glencore Bermuda) ownership of 15,325,000 Common Shares, pursuant to a private transaction (the Security Disposition and together with the Sale Disposition, the Dispositions). The 15,325,000 Common Shares transferred by Ruwenzori (the Security Shares) were previously held by Glencore Bermuda as security pursuant to a facility agreement, dated August 23, 2007, as amended (the Facility Agreement) and, on February 13, 2017, the Security Shares were transferred to Glencore Bermuda pursuant to a termination agreement in respect of the Facility Agreement dated February 13, 2017 (the Termination Agreement). The aggregate transferred shares, being 210,765,700 Common Shares, represent approximately 11.05% of the outstanding Common Shares. As a result of the Dispositions, the Trust and its joint actors currently hold no Common Shares of Katanga. Immediately prior to the Dispositions, the Trust held 210,765,700 Common Shares representing approximately 11.05% of the issued and outstanding Common Shares. After giving effect to the Dispositions, the Trust and its joint actors currently hold no Common Shares of Katanga. The Sale Shares were disposed of at a price of US$0.19285 (approx. CDN$0.25214) per Sale Share for aggregate consideration of US$37,691,546.73 (approx. CDN$49,277,929.50). Conversion between United States dollars and Canadian Dollars herein is based on a US$:CDN$ exchange rate of US$1.00:CDN$1.3074, being the Bank of Canada noon rate on February 10, 2017. The Security Shares were transferred pursuant to the Termination Agreement as consideration for the termination of the Facility Agreement. A copy of the early warning report to be filed by the Trust with Canadian securities regulators may be obtained by contacting: Peter Ogden, Powerscourt +44(0)20 7250 1446.
News Article | February 23, 2017
Poverty Plus A Poisonous Plant Blamed For Paralysis In Rural Africa For nearly a century, people have reported mysterious epidemics of permanent paralysis in rural regions of Africa. In 1990, Hans Rosling a Swedish epidemiologist and pop-star statistician, who died of pancreatic cancer earlier this month, linked the malady to cyanide in the staple crop, cassava. But Rosling would protest if I told you that cassava causes this incurable disease he called konzo. The disease requires more than a poisonous plant. Namely, poverty, severe malnourishment, conflict and a lack of infrastructure – most affected areas are far away from markets, clinics and paved roads. "If you do not find the true cause, you do not act correctly," Rosling told me last September. To understand the connection between cassava, poverty, conflict and konzo, photographer Neil Brandvold and I traveled to a remote region in the Democratic Republic of Congo (DRC) where more than 3,500 people have been brought to their knees by konzo over the past 20 years. The town is called Kahemba, which, in the region's language, Chokwe, means the "the place of suffering." In the DRC, cassava is served as a doughy ball called fufu that accompanies stews and greens like cassava leaves and spinach. The dish begins when women unearth thick, starchy cassava roots from the soil, and soak them in a stream for about a week. Then they dry the roots in the sun, and next beat them into flour. Add water, mix, and the fufu is ready. Whether or not it is intentional, women make cassava safe to eat when they soak the roots. Over time, water degrades cyanide found in bitter varieties of the plant. But sometimes people here in the DRC are forced to skip the time-consuming step. Jean-Paul Mugisho, a 26-year old man with konzo, told me why he ate cassava that had not been soaked in water when he was young. Since 1996, his area of the country, Kivu, has been mired in violence. Dozens of armed groups—many supported by surrounding nations — and the country's army have been at war. With more than 5 million dead, the ongoing conflict in the DRC is the bloodiest since World War II. Militias take over towns and loot farms for food, he said. They unearth roots of sweet cassava, but leave the bitter ones in the ground because they taste terrible when raw. So, roots from bitter cassava "hide out" in the ground, Mugisho said. They can remain in the soil for months without falling prey to pests. Researchers suspect that has to do with the toxins that bitter varieties have evolved to contain. So families that flee their farms find their roots safely in the ground when they return. Alternatively, they take the roots on the run. But soaking them requires a stable location, a safe place they can stay at for at least a few days. And baring that, hungry people eat the roots without processing them sufficiently. Mugisho said he remembers not liking the taste, but no one knew they were dangerous. When asked how to prevent konzo, Mugisho said, "The government needs to stop the army and warring groups." Born in 1953, Cécile Mwandjombi (far left in the picture) told me how the land has changed since her youth. The population of Kahemba was smaller, she said, and people had space to rotate crops including cassava, cabbage, spinach and onions. That's no longer done because there are more mouths to feed than arable land. Over-farming, and perhaps an increase in droughts, has rendered the soil as cracked and dry as sand. Mwandjombi said that prior to the country's independence, Belgium colonizers had distributed seeds and farm tools — unlike the country's current government. Now, after a dry season kills all crops except for drought-resistant bitter cassava, people have little to plant. Outbreaks of konzo predictably follow because the disease preys on the malnourished. Eating bitter cassava poses no risk to my health for example, because I eat protein, too. Amino acids from meat and beans help the body detoxify this level of poison. Kahemba's inhabitants aren't so lucky. Mwandjombi's two daughters (pictured above) have been disabled by konzo. "In the dry seasons, my daughters and I eat just once a day," Mwandjombi said. "We eat fufu alone with nothing else." Etienne Tshiluanjim, a skeleton-thin 28-year old, does not soak cassava roots because his wheelchair cannot traverse dirt paths leading to the river, his only source of fresh water. His mother cannot stand either. Konzo has come for his two little brothers as well. And his father has abandoned them. Neighbors donate cassava every few days. At dusk, a woman carrying a basket of starchy roots arrived. "I know cassava caused this condition," said Marie Kavumbu, Etienne's mother. "But how can we ask for this cassava to be soaked? We haven't eaten for two days and we cannot wait." Rosling officially gave konzo its name in 1990. He connected the symptoms he'd seen in Mozambique, Tanzania and the Democratic Republic of Congo to unprocessed cassava, and chose a Congolese tribal word for the condition—konzo. It originally referred to trapped antelopes tethered at their knees. Rosling and his colleagues chose this over a name that indicted cassava. After all, he said, "It is the fifth staple crop of mankind." Instead, Rosling placed blame on extreme poverty—a condition defined by people living on less than $1.60 per day. But that number implies cash, and people in extreme poverty, in places like Kahemba, have none. They have one or no crops in the ground. Babies are born dangerously below weight. Adults have no access to jobs. Rosling argues that people in this state are sitting ducks for emerging disease and conflict. "You need to lift people out of supreme poverty," he said. "It is misery." Economic growth, however, is not on the horizon in the DRC. The violence feels relentless. On Valentine's Day, the United Nations reported that Congolese soldiers had killed at least 101 people in the course of five days. It was the most recent event in a wave of instability that surged after President Joseph Kabila refused to relinquish his 16-year reign in December. In the meantime, the best hope for preventing konzo is education. One Congolese researcher who trained with Rosling, Desire Tshala, now at Oregon Health and Science University in Portland, travels for days on dirt roads to teach communities how important it is to soak cassava before consumption. And minus a cure, the best hope for those stricken with konzo is employment. A nurse who had been crippled in his youth due to tuberculosis, Theodore Nabarhimba, explained how jobs provide money and a sense of community and purpose. "We need to reinsert people into society," he said. Gaby Ngabu Kasongo, pictured above, told me he might be dead if it weren't for his aunt, who found him a job as a tailor, and a radiant girl friend who sat leisurely by his side. "We — all the konzo people — are suffering," he said, "But though I am not well, I am comfortable." Science journalist Amy Maxmen traveled to the DRC to write about konzo for Global Health NOW at the Johns Hopkins Bloomberg School of Public Health. Photographer Neil Brandvold's photographs were made possible with support from the Pulitzer Center on Crisis Reporting.
News Article | February 18, 2017
African Utility Week Industry Awards Include New Gas, Small Scale and ICT Categories to Reflect Evolution of Energy and Water Sectors The fourth edition of the annual African Utility Week Industry Awards will once again honour pioneering utilities, projects and people in the energy and water industry on the continent on Wednesday, 17 May, during African Utility Week and Energy Revolution Africa at the CTICC in Cape Town. Cape Town, South Africa, February 18, 2017 --( The fourth edition of the annual African Utility Week Industry Awards will once again honour pioneering utilities, projects and people in the energy and water industry on the continent on Wednesday, 17 May, during African Utility Week and Energy Revolution Africa at the CTICC in Cape Town. Award categories vary from the Power and Water Utility of the Year Awards, Young Energy Leader Award and Outstanding Woman of the Year: Power/Water and include exciting new categories to reflect the latest developments and evolution of the energy and water sectors. The new categories include: • Small-Scale Sustainable Energy Project (under 5MW) • Innovative Technology of the Year • Deal of the Year • ICT Excellence Award • Gas-to-Power Project of the Year Benchmark of excellence These prestigious industry awards will be presented during a gala dinner welcoming 800 of Africa’s most distinguished power and water industry professionals to recognise those that represent a benchmark of excellence for the industry. Entries for nominations for the awards close on 17 March and the public is invited to nominate themselves or colleagues and projects that have made outstanding contributions to the energy and water sectors. Johannesburg’s City Power, George Airport and Akon Lighting Africa were also amongst the exciting and pioneering power and water professionals, utilities and projects that were winners at last year’s sold-out awards gala evening, while Uganda’s NWSC won the coveted Water Utility of the Year Award for the third year in a row. 2017 Award Categories: Individual Awards: • Lifetime Achievement Award • Outstanding Contribution Award: Power • Outstanding Contribution Award: Water • Outstanding Woman of the Year: Power/Water • Young Energy Leader Award Organisational / Project Awards: • Power Utility of the Year • Water Utility of the Year • Large Scale Renewable Energy Project (10MW +) • Small-Scale Sustainable Energy Project (under 5MW) – New Category • Innovative Technology of the Year – New Category • Deal of the Year – New Category • ICT Excellence Award – New Category • Gas-to-Power Project of the Year – New Category Leading water and energy platform African Utility Week takes place from 16-18 May 2017 at the CTICC in Cape Town, gathering over 7000 decision makers in the power and water sectors from more than 40 countries to source the latest solutions and meet over 300 suppliers. The expo will feature free to attend technical workshops and technology demonstrations. The event has won the Association of African Exhibition Organisers (AAXO) award for the Best Trade Exhibition 6001-12000 sqm category. KPMG is diamond sponsor Already leading global advisory firm KPMG has confirmed that it is returning to African Utility Week, this time as its exclusive diamond sponsorship. Other long-running supporters and industry stalwarts EPG, Landis+Gyr, Ontec and Shell are also back as platinum sponsors while Conlog, Oracle, SAP and Vodacom are gold sponsors again. Part of the event is Energy Revolution Africa, a new platform for community scale projects, which will provide a unique forum for solution providers to meet with the new energy purchasers such as metros and municipalities, IPPs, rural electrification project developers and large power users, including mines, commercial property developers and industrial manufacturers. African Utility Week and Energy Revolution Africa are organised by Spintelligent, a multi-award-winning exhibition and conference producer across the continent in the infrastructure, real estate, energy, mining, agriculture and education sectors. Other well-known events by Spintelligent include Agritech Expo Tanzania, CBM-TEC, Kenya Mining Forum, Future Energy East Africa (formerly EAPIC), Future Energy Nigeria (formerly WAPIC), Future Energy Central Africa (formerly iPAD Cameroon), iPAD Nigeria Mining Forum, DRC Mining Week and EduWeek. Spintelligent is part of the UK-based Clarion Events Group. Dates for African Utility Week and Energy Revolution Africa: Conference and expo: 16-18 May 2017 Awards gala dinner: 17 May 2016 Site visits: 19 May 2016 Location: CTICC, Cape Town, South Africa Cape Town, South Africa, February 18, 2017 --( PR.com )-- “I know the energy revolution is powering up and ready to take off. We should embrace energy trade with each other.” With these words Mr Kandeh Yumkella, UN Under-Secretary-General and Former Special Representative of the Secretary-General and CEO, Sustainable Energy for All (SE4All), accepted the Lifetime Achievement Award at last year’s African Utility Week Industry Awards.The fourth edition of the annual African Utility Week Industry Awards will once again honour pioneering utilities, projects and people in the energy and water industry on the continent on Wednesday, 17 May, during African Utility Week and Energy Revolution Africa at the CTICC in Cape Town.Award categories vary from the Power and Water Utility of the Year Awards, Young Energy Leader Award and Outstanding Woman of the Year: Power/Water and include exciting new categories to reflect the latest developments and evolution of the energy and water sectors. The new categories include:• Small-Scale Sustainable Energy Project (under 5MW)• Innovative Technology of the Year• Deal of the Year• ICT Excellence Award• Gas-to-Power Project of the YearBenchmark of excellenceThese prestigious industry awards will be presented during a gala dinner welcoming 800 of Africa’s most distinguished power and water industry professionals to recognise those that represent a benchmark of excellence for the industry. Entries for nominations for the awards close on 17 March and the public is invited to nominate themselves or colleagues and projects that have made outstanding contributions to the energy and water sectors.Johannesburg’s City Power, George Airport and Akon Lighting Africa were also amongst the exciting and pioneering power and water professionals, utilities and projects that were winners at last year’s sold-out awards gala evening, while Uganda’s NWSC won the coveted Water Utility of the Year Award for the third year in a row.2017 Award Categories:Individual Awards:• Lifetime Achievement Award• Outstanding Contribution Award: Power• Outstanding Contribution Award: Water• Outstanding Woman of the Year: Power/Water• Young Energy Leader AwardOrganisational / Project Awards:• Power Utility of the Year• Water Utility of the Year• Large Scale Renewable Energy Project (10MW +)• Small-Scale Sustainable Energy Project (under 5MW) – New Category• Innovative Technology of the Year – New Category• Deal of the Year – New Category• ICT Excellence Award – New Category• Gas-to-Power Project of the Year – New CategoryLeading water and energy platformAfrican Utility Week takes place from 16-18 May 2017 at the CTICC in Cape Town, gathering over 7000 decision makers in the power and water sectors from more than 40 countries to source the latest solutions and meet over 300 suppliers. The expo will feature free to attend technical workshops and technology demonstrations. The event has won the Association of African Exhibition Organisers (AAXO) award for the Best Trade Exhibition 6001-12000 sqm category.KPMG is diamond sponsorAlready leading global advisory firm KPMG has confirmed that it is returning to African Utility Week, this time as its exclusive diamond sponsorship. Other long-running supporters and industry stalwarts EPG, Landis+Gyr, Ontec and Shell are also back as platinum sponsors while Conlog, Oracle, SAP and Vodacom are gold sponsors again.Part of the event is Energy Revolution Africa, a new platform for community scale projects, which will provide a unique forum for solution providers to meet with the new energy purchasers such as metros and municipalities, IPPs, rural electrification project developers and large power users, including mines, commercial property developers and industrial manufacturers.African Utility Week and Energy Revolution Africa are organised by Spintelligent, a multi-award-winning exhibition and conference producer across the continent in the infrastructure, real estate, energy, mining, agriculture and education sectors. Other well-known events by Spintelligent include Agritech Expo Tanzania, CBM-TEC, Kenya Mining Forum, Future Energy East Africa (formerly EAPIC), Future Energy Nigeria (formerly WAPIC), Future Energy Central Africa (formerly iPAD Cameroon), iPAD Nigeria Mining Forum, DRC Mining Week and EduWeek. Spintelligent is part of the UK-based Clarion Events Group.Dates for African Utility Week and Energy Revolution Africa:Conference and expo: 16-18 May 2017Awards gala dinner: 17 May 2016Site visits: 19 May 2016Location: CTICC, Cape Town, South Africa Click here to view the list of recent Press Releases from African Utility Week
News Article | January 18, 2017
More than half of the world’s apes, monkeys, lemurs and lorises are now threatened with extinction as agriculture and industrial activities destroy forest habitats and the animals’ populations are hit by hunting and trade. In the most bleak assessment of primates to date, conservationists found that 60% of the wild species are on course to die out, with three quarters already in steady decline. The report casts doubt on the future of about 300 primate species, including gorillas, chimps, gibbons, marmosets, tarsiers, lemurs and lorises. Anthony Rylands, a senior research scientist at Conservation International who helped to compile the report, said he was “horrified” at the grim picture revealed in the review which drew on the International Union for the Conservation of Nature (IUCN) red list, peer-reviewed science reports and UN databases. “The scale of this is massive,” Rylands told the Guardian. “Considering the large number of species currently threatened and experiencing population declines, the world will soon be facing a major extinction event if effective action is not implemented immediately,” he writes in the journal Science Advances, with colleagues at the University of Illinois and the National Autonomous University of Mexico. The most dramatic impact on primates has come from agricultural growth. From 1990 to 2010 it has claimed 1.5 million square kilometres of primate habitats, an area three times the size of France. In Sumatra and Borneo, the destruction of forests for oil palm plantations has driven severe declines in orangutan populations. In China, the expansion of rubber plantations has led to the near extinction of the northern white-cheeked crested gibbon and the Hainan gibbon, of which only about 30 or animals survive. More rubber plantations in India have hit the Bengal slow loris, the western hoolock gibbon and Phayre’s leaf monkey. Primates are spread throughout 90 countries, but two thirds of the species live in just four: Brazil, Madagascar, Indonesia and the Democratic Republic of the Congo (DRC). In Madagascar, 87% of primate species face extinction, along with 73% in Asia, the report states. It adds that humans have “one last opportunity” to reduce or remove the threats facing the animals, to build conservation efforts, and raise worldwide awareness of their predicament. The market for tropical timber has driven up industrial logging and damaged forest areas in Asia, Africa and the neotropics. Mining for minerals and diamonds have also taken a toll. On Dinagat island in the Philippines, gold, nickel and copper mining endanger the Philippine tarsier. In the DRC, hunters working around the tin, gold and diamond mine industry are the greatest threat to the region’s Grauer’s gorilla. The industries at work in tropical forest areas are expected to be served by an extra 25m km of roads by 2050, further fragmenting the primates’ habitats. While some species are resilient and adapt to the loss of traditional habitats, survival in patches of forest and urban areas is unlikely to be sustainable, the authors write. One of the more unusual threats facing lemurs and chimps who come into contact with humans is infection with diarrhoea-causing bugs. Another major force driving primates to extinction is commercialised bushmeat hunting, which has expanded to provide food to the growing human population. The report cites accounts that claim 150,000 primates from 16 species are traded each year in Nigeria and Cameroon. In Borneo, between 2,000 and 3,000 orangutans are killed for food each year, a rate that is far from sustainable. Russell Mittermeier, another Conservation International scientist and co-author of the study, said that it was crucial to target conservation on the most threatened forests and species. “Clearly we need to deal with the drivers of extinction, from commercial agriculture to mining and logging. But if we focus all of our efforts on that, by the time we have had an impact, there won’t be anything left. So we must first protect the last remaining pieces of habitat and if no protected areas exist, we must create them. “I’m an optimist and I believe we can come up with solutions, but we have to be very targeted now to make sure we don’t lose anything,” he said. Writing in the journal, the authors add: “Despite the impending extinction facing many of the world’s primates, we remain adamant that primate conservation is not yet a lost cause.”