Business
ICS update on Zambian operations
ABBOTSFORD, BC, April 21 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) wishes to provide shareholde...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, April 21 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V)\nwishes to provide shareholders with the following update on recent activities:\n\n\nUnder the current extremely difficult market conditions which have\nimpacted severely on the exploration and mining sector, ICS management has\napplied an overall strategy of reducing expenditures to a minimum, creating\ncash flow through the sale of some assets as well as continuing to proactively\nseek for new business opportunities.\n\n\n - Plant and equipment valued at approx. USD 2.5M was moved from the\n Mokambo Mine site to Kalulushi. The Kalulushi site has access to\n power, water, buildings and is permitted for the use of sulphuric\n acid on site. The Kalulushi site also has 5 Arc Furnaces that can be\n renovated for use and represents a very attractive location for\n possible future operations. Alex Stewart also operates from these\n premises independently.\n\n- ICS is in negotiations with several companies regarding a Joint\n Venture for the possible use of the plant and equipment on the\n Kalalushi site. Negotiations are at an early stage and shareholders\n will be immediately advised when these negotiations are finalized.\n\n- ICS has entered into negotiations with the Zambian government for the\n sale of the buildings on the Mokambo property for possible use as an\n agricultural training centre, a primary or secondary school or some\n other application. It is expected that the sale of these buildings\n will raise approx. USD $300-400,000.\n\n- ICS expects to close a deal within the week for the sale of its 1050\n KVA generator for approx USD $145,000 (CDN 178,973).\n\n- ICS has signed an MOU with ATJ Natural Resources Ag (ATJ), of Belize\n for the creation of a strategic partnership between ICS and ATJ. This\n partnership will be for the execution of exploration activities on a\n minimum of 4,000 sq km of Licence Areas held by ATJ in the Luapula\n area. These licence areas contain known copper mineralization which\n is described in a geological report dated Nov 2006 which was provided\n to ICS by ATJ. This report was prepared for Alfa Mines (Alpha) a\n company related to ATJ. In addition to the 4,000 sq km Alfa will\n include in the JV a further 1,000 sq km held under a separate\n licence.\n\n- ICS has undertaken some preliminary concentration testing on a...