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We've hit a very interesting gold deposit in Namibia - Rick Menell
In an interview on Radio 2000 @ 18:40 on 9 November 2005
[miningmx.com] --Teal Mining & Exploration (TEAL), the entity holding the non-South African copper and gold exploration properties of African Rainbow Minerals (ARM), is listing in Toronto in order to raise funds for a new Namibian gold mine, said Rick Menell, Teal CEO.
"One of our early drills in Namibia hit a very interesting gold deposit and we're going to explore. We need the money raised in Canada to see this through," said Menell on the week nightly business show on Radio 2000.
"We've identified about 1 million oz so far but we need to make it bigger in order to make it an attractive venture," said Menell.
The mine which was discovered about a year ago would be able to be in production in 3 to 4 years time, should the feasibility tests prove satisfactory said Menell.
Commenting on the choice of the Toronto to list Menell said that they chose the Canadian
market as it was "much deeper and long standing" compared to the JSE when it came to early stage mining risk.
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