Referenced Stocks

Tiger Resources Export of Kipoi Copper Concentrate Commenced; Shrs at Yr Lows

By Midnight Trader,  July 03, 2012, 08:54:17 AM EDT

Tiger Resources Limited (TGS.TO), which is trading at year lows, announced it has entered into an export sales agreement to deliver copper oxide concentrate from its Kipoi Copper Project in Katanga Province, Democratic Republic of Congo ( DRC ) to the Chambishi Copper Smelter in Zambia.

The contract with Chambishi is for a minimum of 30,000t of copper concentrate at an average grade of 25% copper content from Tiger's Stage 1 heavy media separation ( HMS ) plant.

The export sales are on favourable commercial terms and will be facilitated through the existing offtake arrangements in place with Tiger's major shareholder Trafigura Beheer B.V.

Tiger plans to export up to 60% of the annual concentrate production from Kipoi, with a higher proportion of the export sales to occur during the dry season. During the wet season, which starts in October and finishes in March, domestic sales will be increased to ensure supply of concentrate to the local market while small-scale operators stop working due to the rain.

Managing Director Brad Marwood said the off-take deal gave Tiger added security in terms of marketing its Stage 1 product.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: DRC, HMS



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