Discovery Metals
Discovery Metals (ASX: DML) combines a portfolio of mineral assets in Africa and joint ventures in Australia. Discovery Metals is focused on developing the Boseto Copper Project in north west Botswana and to create shareholder wealth through discovery and development of economic mineral deposits.
The Company’s major asset and current focus is its Boseto Copper Project in north west Botswana. The company also controls the Dikoloti Nickel Project in north east Botswana. There are two smaller Australian projects which are joint ventured with the JV partners potentially earning into 51 percent equity.
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02/03/2009
Brad Sampson of Discovery Metals talks to Proactiveinvestors (MP3)
Brad Sampson of Discovery Metals talks to Harry Norman of Proactiveinvestors
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Company Statement:
Discovery Metals is focused on developing the Boseto Copper Project (100% owned) in north west Botswana and to create shareholder wealth through discovery and development of economic mineral deposits. This is the Company's major asset and is located in north west Botswana. The company also controls the Dikoloti Nickel Project (85%) in north east Botswana.
Discovery Metals' Boseto Copper Project (100% owned) is located in north-west Botswana, approximately 80 km south-west of the town of Maun, within the district of Ngamiland. A seven tenement package was granted to Discovery Metals in September 2005 and fieldwork on this tenement package commenced in October 2005. The Government of Botswana approved the Company's renewal of these tenements in September 2008 and all prospective areas were retained by the Company. In June 2008, Discovery Metals was granted an additional seven tenements extending from the south-west boundary of the original 2005 granted tenements through to the Namibian border, adding 5,700 km2 to the area held under prospecting licenses, to bring the total current tenement area to 10,100 km2. The outer limit of the exploration licence area starts approximately 60 km south-west of Maun and stretches in a south-westerly direction for approximately 300 km to the Namibian border.
The Boseto Copper Project is located within a belt of significant copper-silver mineralisation that extends from the well known and more highly developed Zambian Copper Belt across north-west Botswana and into Namibia. The poorly explored and undeveloped portion of this belt in north-west Botswana is known as the Kalahari Copper Belt.
Copper in the Boseto Project area occurs predominantly in chalcocite, with minor amounts of bornite and other copper sulphides present. At shallow depths, malachite and chrysocolla exist in significant proportions within some areas of the mineral resource.
Current Operations:
Discovery Metals is currently concentrating its activities on the Boseto Copper Project in north west Botswana, to consolidate its position as one of the leading base metal exploration companies.
Discovery Metals is looking to grow its exploration and project development activities within southern Africa by utilising its Botswana staff and operational capability to lever into new base metal projects within the region. Botswana is an ideal base from which to run a network of projects within southern Africa.
Discovery Metals is focused on the development of the Boseto Copper Project in north west Botswana.
The Boseto Copper Project and the 14 prospecting licences the company holds on the highly prospective Kalahari Copper Belt in north west Botswana positions the company strongly to deliver near term cash flows while also having the potential to grow.
Discovery Metals will leverage its base in Botswana and strong operational capability to create other opportunities.

Discovery Metals is developing the Boseto copper project within its large tenement position in Botswana's highly prospective Kalahari copper belt.
The Pre Feasibility Study for the Boseto copper project demonstrated Discovery Metal's plan to develop Botswana's largest copper mine is economically attractive.
The extensive tenement package is held 100% by Discovery Metals.
Exploration Update
The current mineral resources at Boseto is 60.4 Mt @ 1.4% Cu and 19.5 g/t Ag consisting of:
* Indicated Mineral Resources of 7.8 Mt @ 1.5% Cu and 22.8 g/t Ag; and
* Inferred Mineral Resources of 48.7 Mt @ 1.4% Cu and 18.7 g/t Ag
The Bankable Feasibilty Study on the Boseto Project is on track for completion in March 2010 and production of first concentrate is currently planned for late 2011. Infill drilling for the feasibility study was completed in October 2009. The resource will be updated for the Bankable Feasibility Study as soon as the assay results are to hand.
Discovery Metals continues to explore across the 14 prospecting licences and 1,300 km of prospective strike length in north western Botswana and continues to generate both new discoveries and new drill targets.
The company's tenement package is located in the Kalahari Copper Belt, a previously poorly explored extension of the world-renowned and lucrative Zambian Copper Belt.
There is still significant exploration upside and potential for resource levels to grow significantly.
Under the guidance of Country Manager Fred Nhiwatiwa, our drilling program to date has demonstrated a "near 100%" success rate in identifying drill targets that intersect copper-silver mineralisation.
The exploration program has continued to intersect high-grade mineralisation increasing the strike length in the existing Zeta, Plutus and Petra prospects.
These three prospects represent only a fraction of the potential 1,300 kilometre mineralisation strike length and were selected as the first exploration targets from historical data available to Discovery Metals.
The programme has also begun exploring new prospect areas with initial drilling results from the Quirinus prospect, located 15 kilometres from the Zeta, Plutus and Petra prospects, confirming copper mineralisation over a 3 kilometre strike length.
Exploration results continue to suggest that Discovery Metals is operating in an emerging major copper province.
Management
Board of Directors
GORDON GALT (Date of Appointment 09.05.07)
B.Eng (Hons), B Comm, Grad Dip Applied Finance, MAusIMM, MAICD
Chairman and member of the Audit and Financial Risk Committee
STUART BRADLEY SAMPSON (Date of Appointment 01.02.08)
B. Eng (Hon), MBA, AMP Oxf, MAusIMM, MAICD
Managing Director
MORRICE CORDINER (Date of Appointment 30.05.03)
LLB, ASIA
Non-Executive Director and Chairman of the Audit and Financial Risk Committee
JOHN SHAW (Date of Appointment 14.11.06)
BSc (Geological Engineering), FAusImm, MCIM, FAICD, SME
Non Executive Director and member of the Audit and Financial Risk Committee
JEREMY READ (Date of Appointment 01.02.08)
BSc (Hons), MAusIMM
Non Executive Director (Managing Director 01.07.07 to 01.02.08)
RIBSON GABONOWE (Date of Appointment 30.05.08)
BSc (Mining Engineering), MSc (Mineral Economics), MBA
Non Executive Director
For details on the Management of Discovery Metals please CLICK HERE
Major Shareholders
As of 27 August 2009
| Rank | Name |
Units
|
%Units
|
| 1. | BOTSWANA REGISTER |
37,635,512
|
19.39
|
| 2. | MACQUARIE BANK LIMITED (METALS & ENERGY CAP DIV A/C) |
22,169,841
|
11.42
|
| 3. | RESOURCE CAPITAL FUND IV LP |
21,237,428
|
10.94
|
| 4. | BOND STREET CUSTODIANS LIMITED (TAURUS RES LTD PARTNER A/C) |
16,842,005
|
8.68
|
| 5. | COMPUTERSHARE CLEARING PTY LTD (CCNL DI A/C) |
13,345,636
|
6.88
|
| 6. | BOND STREET CUSTODIANS LIMITED (TAURUS RESOUCES TST A/C) |
8,537,986
|
4.40
|
| 7. | HSBC CUSTODY NOMINEES (AUSTRALIA) |
7,152,008
|
3.69
|
| 8. | MACQUARIE BANK LTD METALS AND ENERGY CAPITAL DIVISION |
5,000,000
|
2.58
|
| 9. | MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED (BERNDALE A/C) |
4,000,000
|
2.06
|
| 10. | NATIONAL NOMINEES LIMITED |
3,640,500
|
1.88
|
| 11. | ANZ NOMINEES LIMITED (CASH INCOME A/C) |
2,582,446
|
1.33
|
| 12. | WALKABOUT SUPERANNUATION FUND PTY LIMITED (WALKABOUT SUPER FUND A/C) |
1,245,050
|
0.64
|
| 13. | WHOLESALERS (MORLEY) PTY LTD |
1,220,000
|
0.63
|
| 14. | HILLBOI NOMINEES PTY LTD |
1,162,074
|
0.60
|
| 15. | PLANLINE PTY LTD (PHILLIP STIVENS S/F A/C) |
1,000,000
|
0.52
|
| 16. | GRENFAM 2 PTY LIMITED (GREENWICH ASX A/C) |
854,950
|
0.44
|
| 17. | MR PETER MARTIN VANDERSPUY |
700,000
|
0.36
|
| 18. | MR CAVIL SINGH (THE HANDMADE A/C) |
680,000
|
0.35
|
| 19. | KORANYA PTY LTD (KORANYA P/L SUPER FUND A/C) |
658,500
|
0.34
|
| 20. | MR BRUCE JOHN ROBINSON + MRS JANE ELIZABETH ROBINSON |
650,000
|
0.33
|
|
Totals: Top 20 Holders of ORDINARY FULLY PAID SHARES (TOTAL)
|
150,313,936
|
77.45
|
|
|
Total Remaining Holders Balance
|
43,764,444
|
22.55
|
Contact Information
Australian Office Enquiries
Level 8, 410 Queen St, Brisbane QLD 4000
GPO Box 3261, Brisbane QLD 4001
P: +61 7 3218 0222
F: +61 7 3218 0233
E: info@discoverymetals.com.au
African Office Enquiries
Discovery Metals (Botswana) Pty Ltd
Unit 2 Ipelo House, Plot 103 Gaborone International Commerce Park, Gaborone, Botswana
Post Net Kgali View, Private Bag 149, Suite 108
P: +267 318 0751
F: +267 318 0752
Corporate Information
Competent Persons
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Financial PR - UK
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