MAWSON WEST - MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE YEAR ENDED 30 JUNE 2011
Mawson West is an Australian-based copper producer, developer and explorer. The ordinary shares of the Company are listed on the Toronto Stock Exchange (“TSX”) under the symbol “MWE”.
Mawson West’s focus is on the Democratic Republic of the Congo (the “DRC”) and its major asset is its 90% Ownership of the tenements which are governed by the Dikulushi Mining Convention and which are held by its 90% owned subsidiary Anvil Mining Congo SARL. Anvil Mining Congo SARL is in the process of being renamed CMCC SARL (“CMCC”).
Throughout this MD&A, any reference to CMCC is a reference to Anvil Mining Congo SARL. The tenements cover a land package of approximately 7,300 km2 and encompass the Company’s two main projects, the Dikulushi copper-silver mine (“Dikulushi Mine”) and the Kapulo copper exploration and development project (“Kapulo Project”), as well as multiple exploration targets. The Dikulushi Mining Convention is a mining concession granted by the Government of the DRC on January 31, 1998 and ratified by Presidential Decree issued on February 27, 1998 which sets out the regulatory and fiscal regime applicable to these tenements. Under the Dikulushi Mining Convention, CMCC is guaranteed sole and exclusive rights for exploitation of projects within the Dikulushi Mining Convention.
Mineral Resources and Reserves
The mineral resources for the Dikulushi Project have been estimated by Optiro Pty Ltd. With David Gray of Optiro acting as the Qualified Person for the calculations. The mineral reserves for the Dikulushi Cutback Project have been estimated by Optiro, with Andrew Law of Optiro acting as the Qualified Person for the calculations. Mineral reserves for the Dikulushi Cutback Project have been determined for the open cut portion of the Dikulushi deposit only and no mineral reserves have been determined for the underground part of the deposit or any satellite deposits. The resources and reserves were developed from the block model. Resources are inclusive of the reserves.
For further information refer to the full report prepared by Mawson West Limited: HERE