Announcements
H1 2011 Company Update
1 August 2011
London Africa Limited is pleased to provide an update on the Company’s activities.
- Non-brokered financing round at 12.5p / ordinary share raised £1.44m
- Geotech VTEM airborne survey (over approximately 80% of the licence) completed in June
- Airborne data currently being processed by Southern Geoscience Consultants in Australia
- Underlying royalty on the licence area for historical target generation services provided by Mark Broadley & Vincent Campbell settled for shares in the Company
- Channel sampling and detailed mapping at 1:2000 scale completed at Taninay gold prospect
- Detailed mapping at 1:2000 scale almost complete at Kofot / Gerger copper-gold prospect. Planned completion Q3 2011
- Regional sampling / exploration ongoing
Outlook H2 2011 - 2012
- Drilling scheduled for Taninay & Kofot / Gerger
- Advanced stage of discussions with a UK Broker to raise funds in Q3 / Q4 and assess listing event
- Evaluation of opportunities in Sudan and the Kingdom of Saudi Arabia to build a Middle East - North Africa (MENA) focused resource company
