Australian Mines’ key asset is its extensive 100%-owned tenement holding in Nigeria’s northwest gold province that contains similar geology to the better known gold producing countries of Ghana, Cote d’ivoire and Burkina Faso – where a combination of advanced exploration and development programs is leading to rapidly expanding output.
Nigeria has a history of gold production and the majority of Australian Mines’ tenements contain historic artisanal workings.
The Nigerian Government, which is democratically elected, is actively encouraging foreign investment into the country’s mineral sector. The Nigerian Minerals and Mining Act 2007 guarantees security of tenure and the right of explorers to convert exploration licences into Mining Leases following the delineation of an ore resource. Australian Mines has commenced systematic exploration of its highly-prospective Yargarma, Kasele, Kagara and Tsauni project areas, with this program being fully-funded through to 2014.
