Nearby Location News
Energizer starts FEED study on Molo project as Dundee becomes largest stakeholder 2016-08-22There is progress at Energizer Resources’ Molo project after the company announced last week that a Dundee affiliate had become the largest shareholder at just under 20%, enabling Energizer to initiate a front end engineering design (FEED) study. Goodman & Company, Investment Counsel, one of Energizer’s largest institutional shareholders on Thursday further increased their holdings in the company through investing C$6-million of the total C$6.72-million in proceeds Energizer raised in a non-brokered private placement financing.
ASX: Scoping Study 2016-01-19
ASX: Operations Update 2015-05-26
General 2015-05-10Coal was first discovered in the region in the early part of the last century and was mined underground in the Sakoa coalfield from 1941 to 1972. Exploration was conducted periodically from the 1920s to the late 1980s and comprised mapping, trenching, diamond drilling, underground exploratory mining and geophysical surveys. Historic resource estimates for the entire region have covered a broad range from several hundred million tonnes to the BRGMs estimate of as high as two billion tonnes. Most historical exploration has been focused on a relatively small area in the vicinity of the old mine and it is considered that the remainder of the region, which comprises the greater part of the Sakoa and Sakamena coalfields and includes the Companys holdings, is under-explored. Large seams of up to 5m over strike lenght of 12Km. What remains is to prove the resource size and determine its quality.