22nd Jan 2015 10:33
LONDON (Alliance News) - Sula Iron & Gold PLC said it intends to focus on further gold and coltan exploration in 2015 and is working on identifying joint venture partners for its projects.
Sula said it will work on progressing its gold and coltan projects in Sierra Leone to the drilling stage in coming months.
It also is working on identifying a joint venture partner for its iron ore project in the country and also for its gold project.
Sula said it is maintaining and progressing discussions with a potential off-take partner for its coltan project. Coltan is short for columbite-tantalite, an ore from which the elements niobium and tantalum are extracted.
"The last few months have seen the company achieve a major corporate milestone within the time and budget originally outlined in our strategy, as well as the confirmation that the area is highly prospective for coltan mineralisation," said Sula Chief Executive Officer Nick Warrell.
"We are delighted with the achievements made and as we start 2015 excited to progress our highly prospective gold and coltan projects with the funds secured in late 2014," Warrell added.
Sula shares were up 2.1% to 1.122 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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