CUCO: Mining in Africa with vast MGMT experience in the DRC Due to the abundance of mineral resources in Africa, mining companies on the continent are well-positioned to benefit from the rising global demand for these resources. One such company that may be of interest is African Energy Metals (Tickers: CUCO.v or NDENF for US investors).
This month CUCO is expected to acquire the Falea Project in Mali, which spans 225 km2 and has a significant uranium deposit, along with substantial copper and silver resources. Exploration activities have yielded a promising Indicated Mineral Resource Estimate of 6.88M Tonnes at 0.115% U3O8, 0.161% Cu and 72.8 g/t Ag.
However, most of the ore zones at Falea remain open for further exploration and expansion, with only 5% of the property having been explored.
CUCO also holds multiple concessions in the Manono region of the Democratic Republic of Congo (DRC) that contain potential reserves of lithium, tin, tantalum, and rare earth elements (REEs).
One of their primary Manono properties spans 30km2 and is located only 440km Northeast of Lubumbashi. The project is currently accessible by air and road, and an upgraded road connecting to Lubumbashi is expected to be completed this year. In the next two years, an improved railroad will be completed which will connect with ports.
Large mining companies such as Tantalex Resources (TTX.v) and AVZ Minerals (AVZ) also own properties in the same area. Notably, TTX is valued at $68M and AVZ at 2.75B AUD while CUCO's MC is only 2.309M.
The experience of CUCO's team in the DRC provides the company with a significant advantage in navigating the unique business and political environment of the country. CUCO's CEO, Yves Kabongo, was born in the DRC and is based in Kinshasa. CUCO's mining engineer Grant Dempsey has over 40 years of experience in mining operations in the DRC. Founder Kevin Torudag has worked in mining in the DRC for over eight years and all members of the board of directors also have specific experience in the DRC. Overall, the team's experience in the DRC is a valuable asset for African Energy Metals in pursuing its business objectives.
For those who wish to learn more about African Energy Metals (CUCO.v or NDENF), you can find their investors' deck here: https://africanenergymetals.com/wp-content/uploads/2023/02/African-Energy-Metals-Corporate-Presentation_2023.02.01.pdf
Posted on behalf of African Energy Metals Inc.