Banff Resources Ltd. Launches Web Site.TORONTO--(BUSINESS WIRE)--July 8, 1998--Banff Resources Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended :BFF BFF Best Friends Forever (chat) BFF Best Foot Forward BFF Ben Folds Five (band) BFF Born Free Foundation BFF Binary File Format BFF Boston Film Festival BFF Biotech Finance Forum .) announces the launch of the Company's web site at www.banffres.com. The web site represents the Company's commitment to keep shareholders informed about the Company's activities and construction progress at the Kasese project. Banff Resources is an emerging, low cost, African cobalt Cobalt, town, Canada Cobalt (kō`bôlt), town (1991 pop. 1,470), E Ont., Canada, NE of Sudbury, near Lake Timiskaming. Once a center for cobalt and silver mining, the area is now economically depressed. producer. The Company is well advanced in the construction of a fully funded, US$110.0 million cobalt processing facility in western Uganda near the town of Kasese. The Kasese project is funded through a combination of US$44.0 million equity and US$66.0 million in debt, the latter extended through a consortium of five international development banks. Construction of the plant and related infrastructure began in September 1997 and project development remains within budget and on schedule for commissioning in November and commercial production during the March 1999 quarter. The Kasese plant is designed to treat an existing cobalt concentrate stockpilethrough a combination of bioleaching and solvent extraction-electrowinning processes. The cobalt concentrate stockpile stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. contains 922,000 tonnes of material grading 1.38 percent cobalt. When it reaches full capacity, the Kasese facility is designed to produce 2.2 million pounds of high purity (99.8 percent plus) cobalt cathode per annum Per annum Yearly. at an operating cost of US$4.00 per pound over its projected ten year operating life. The Kasese investment represents the single largest private investment in Uganda's mining sector. Banff Resources has a 55 percent interest in the Kasese project. More information on Banff Resources can be found on the Company's web site at www.banffres.com. Banff Resources Ltd. Per: David Constable An official of a Municipal Corporation whose primary duties are to protect and preserve the peace of the community. In medieval law, a constable was a high functionary under the French and English kings. Vice President, Investor Relations Investor relations The process by which the corporation communicates with its investors.
CONTACT: Banff Resources Ltd.
David Constable, 416/596-1299
416/596-2259 (FAX)
Toll free: 1-800-756-9995
E-mail: dconstable@banffres.com
or
Banff Resources Ltd.
Henri Troch, 33/2-3864-3667
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion