Union Capital NEUE MELDUNG !!! - 500 Beiträge pro Seite

[Harryschotter007]

IST DAS DIE AUFERSTEHUNG ???
Es kommt endlich nochmal Bewegung in die Aktie !
Aktivitäten verstärken sich zusehenst im Iran / Tehran
WELTWEIT GRÖSSTES PROJEKT !!
Für mich einer der TOP-AKTIEN für das JAHR 2002






Mehdiabad Zinc Project - Heap Leach Test/Project Update

Document date: Fri 11 Jan 2002 Released time: Fri 11 Jan 2002 10:58:18
Document No: 144682 Document part: A
Market Flag: Y
Classification: Progress Report

UNION CAPITAL LIMITED 2002-01-11 ASX-SIGNAL-G

HOMEX - Brisbane

+++++++++++++++++++++++++
Union Capital Limited announces that metallurgical column leaching
testwork on two representative composite samples of low grade
oxidized zinc ore from the Mehdiabad Zinc Project has been completed
by Hydrometallurgy Research Laboratories in Brisbane. The final zinc
recoveries were 63% and 55% respectively leached over a period of 17
days. Whilst it is felt that these recoveries could be optimized
further, the results compare favorable with the zinc recovery used in
the Pre feasibility study of 55% for heap leaching.

The head grade of the two sample tested was only 2.9% Zn and 3.0% Zn
respectively, and the samples were only crushed to minus l9mm. The
kinetics of leaching were very rapid with approximately 50% of the
zinc being leached within 24 hours. Acid consumption was very low,
being 87kg/t and 43kg/t respectively. The zinc was extracted from the
sample using solvent extraction.

The results are very encouraging for heap leaching of the low grade
mineralisation in the range of 2-4% zinc. There is a large quantity
of mineralisation in this grade range over lying the higher grade
mineralisation.

Union Capital Limited originally held a 25% interest in the Mehdiabad
Zinc Project located in Iran, but through dilution of one of its
partners Itok GmbH, Union has effectively increased its interest to
in excess of 30%, whilst Itok`s economic interest has been diluted to
below 20%. The Iranian Government 50% partner in the project has been
recently changed by Ministry of Mines and Industry from General
Iranian Mining Company (GIMCO), which has been dissolved, to a new
organization called Iran Mines and Mineral Industry Development and
Renovation Organisation (IMMIDRO) has been formed to replace GIMCO.

Union understands that the change will make it easier for the
Government partner to become a shareholder in the incorporated Joint
Venture Company envisaged in the Foundation and Basic Agreements
which were signed between the parties and the Ministry of Mines and
Industry in 1999.

Talks are scheduled to commence in Tehran later this month to seek
ways for IMMIDRO to become more involved in the Project within the
framework of the existing agreements.

From meetings that were held in Tehran last month with Ministry
officials, Union understand that once the above round of meetings are
satisfactorily concluded, and the Joint Venture Company is
incorporated, then consideration will be given to granting the
Exploitation Licence. The Licence will be granted to the Joint
Venture Company in accordance with the Foundation Agreement.

The Exploitation Licence was applied for only recently, following
completion of a $US3 million Pre Feasibility Study in July 2001. The
Pre-Feasibility Study report showed Mehdiabad to be one of the
largest undeveloped zinc projects in the world, and upon development
has the potential to be one of the lowest cost zinc, lead and silver
producers at an operating cost of less than US 20 cents per pound of
zinc metal produced. The Joint Venture plans to commence the Bankable
Feasibility Study upon the granting of the Exploitation Licence.

R Murdoch
MANAGING DIRECTOR

[jankrist]

Übersetze den Text doch bitte mal.


Danke