Exploration & Processing - Fall 2010 - (Page 92)

AFRICO RESOURCES LTD. BY ALAN DORICH Africo Resources specializes in exploring, acquiring and developing base metal and precious metal properties. AFRICO RESOURCES LTD. SAYS IT IS VENTURING TO DEVELOP A VERY HIGH-GRADE COPPER/COBALT PROJECT IN THE WORLD’S RICHEST COPPER BELT. MINING THE RICHES A COMPANY PROFILE Africo Resources Ltd. www.africoresources.com Headquarters: Vancouver Employees: 10 Specialty: Base metal and gold Chris Theodoropoulos, chairman, acting president and CEO: “The copper and cobalt grades on our Kalukundi copper/cobalt project are excellent.” 92 | EXPLORATION-PROCESSING.COM exploration in Africa lthough Africo Resources Ltd. felt impacts from the economic crisis, the company is focused on becoming a premier resource firm in the Democratic Republic of the Congo (DRC), according to Chairman, President and CEO Chris Theodoropoulos. Vancouver-based Africo Resources explores, acquires and develops base and precious metal properties in Africa. Theodoropoulos notes that the company’s primary property is its Kalukundi project in the Katanga Province in the DRC. “The project is basically a copper/cobalt project, located in the Katangan Copper Belt,” he says. A bankable feasibility study on the Kalukundi project, completed in 2006, indicated an internal rate of return of 28.5 percent after tax. The study, which was based on just four of the 12 mineralized fragments, drilled down to a depth of only 200 meters, indicates a robust project with a high-grade 8.9 percent copper equivalent yield, near-term cash flow generation (within 1.5 years) and a payback period of only four years. But the process of bringing the project to fruition has not been easy, Theodoropoulos admits. While Africo was set to fast track the project in April 2007, it was delayed by a title dispute, he says. “[It] set us back not only on the title, [but] we had fairly significant financing,” FALL 2010 http://www.EXPLORATION-PROCESSING.COM

Table of Contents for the Digital Edition of Exploration & Processing - Fall 2010

Exploration & Processing - Fall 2010
Spillover Effects
Profitable Path to Renewable Energy
Dynamic Air Shelters Ltd.
Elevating Boats LLC
Gazelle’s Oilfield Services Ltd.
International Alliance Group
Lydford Mining Co.
Offshore Inland Marine, Industrial & Oilfield Services
Q.B. Johnson Manufacturing Inc.
Thermo Design Engineering
Western Camp Services Ltd.
Western Copper Corp.
Alberta Welltest Incinerators
Blakely Construction Co. Inc.
Bluewater Constructors Inc.
Energy Fabrication Inc.
OFM Pump Inc.
Lithium Americas Corp.
New Dominion Construction Inc.
Otis Gold
Owen Sound Ledgerock Ltd.
Reagan Equipment Co. Inc.
Swick Mining Services (Canada) Inc.
American Oil & Gas – The Goliath Project
Africo Resources Ltd.
American Tank Company Inc.
Atlas Copco Geotechnical Drilling & Exploration
Clarkco Oilfield Services Inc.
Energy Fuels Resources Corp.
ESA Renewables LLC
GPR Industries (1994) Ltd.
Helio Resource Corp.
Landdrill International Inc.
Laurel Aggregates Inc.
LoneStar Energy Fabrication
NioGold Mining Corp.
Pacific Booker Minerals Inc.
Phoenix Exploration Co.
Premium Rock Bit Corp.
Queenston Mining Inc.
RAE Engineering & Inspection Ltd.
Goldcorp – Red Lake Gold Mines
C-FER Technologies Inc.
Surepoint Group
Eden Stone and Valders Stone & Marble Inc.
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Exploration & Processing - Fall 2010