Business
Installation of EMEW plant in Zambia by Q4 of 2008 - on schedule
ABBOTSFORD, BC, May 7 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is pleased to announce that the...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, May 7 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is\npleased to announce that the company is on track to complete the installation\nof its EMEW plant by Q4 of 2008 at the Mokambo site in Mufulira, Zambia. The\nplant is designed to produce approximately 600 tonnes of finished copper and\napproximately 100 tonnes of cobalt carbonate annually. The Company will\ninitially be processing third party ore, purchased from small local mining\ncompanies.\n\n\nThe purpose of the EMEW plant operation at this stage of the Company's\nhistory is to provide the Company with quick access to cash flow to reduce\ndependency on the markets and the subsequent dilution in share capital. The\ncompany's issued share capital remains at 26,963,869 shares.\n\n\nThe 270 cell EMEW plant that was acquired before the IPO is on site and\nthe shipment containing the EMEW rectifiers is presently in Zambia en route to\nsite. The plant will be assembled on the concrete structure that has already\nbeen built for it. An acid-proof membrane is being laid down under the EMEW\nplant as well as under the heap leach area, pregnant leach solution pond, and\nthe raffinate pond. A crusher, stainless steel belt filter (for cobalt\ncarbonate recovery), and an appropriately sized diesel generator have been\nsourced and acquired. This operation is scheduled to start in Q4 of 2008.\n\n\nGraham Chisholm, President and CEO of ICS comments "One of the Company's\nkey objectives is to bring this project to production as soon as possible with\nminimal capital by using the modular EMEW plant. The cash flow will assist the\ncompany to progress its larger projects to achieve the Company's vision of\nbecoming a major mining company centred on the Central African Copper Belt".\n\n\nSulphide Confirmation Drill Program\n\n\n-----------------------------------\n\n\nICS is nearing completion of its confirmation drill programs for the\noxides and the sulphides of the Mokambo Deposit with an NI 43-101 Compliant\nTechnical Mineral Resource Report to be completed by summer 2008.\n\n\nTrans African Minerals\n\n\n----------------------\n\n\nThe company wishes to advise that Trans African Minerals has not complied\nwith the payment schedule as set out in the Letter of Intent signed between\nICS and Trans African Minerals dated the 4th March 2008 and accordingly ICS\n...