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DGAP-News: West Africa Mining Holding AG invests in lithium exploration project in Senegal

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Release of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The content of the The issuer / publisher is solely responsible.
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The West Africa Mining Holding AG at 24.9 percent Share capital of SN Commodities Ltd. involved. The share capital of SN Commodities Ltd.. located to Birmingham, United Kingdom, is currently 800,000 British pounds (the equivalent of around 900,000 euros).
The SN Commodities Ltd. leads currently under the direction of renowned geologist Dr. Madani Diallo, an exploration project in eastern By country of Senegal. The exploration project is aimed at finding Lithium from. Lithium is one of the so-called ‘rare earth’ and forms the basic material for the lithium-ion batteries, the core the innovative technology of electric cars. The SN Commodities Ltd. has the rights for prospecting, exploration and extraction of lithium and other rare earths. These relate to the exploration rights 1320 square kilometer license area ‘Baraberie’ and were by the Ministry of Mines and Natural Resources issued. The Phase I exploration has for this exploration project already begun and includes the collection of geophysical and elementary basic data. This work is expected in the current fiscal year be completed.
The Ministry had in this license area in the Past field investigations. The geological team SN Commodities Ltd. could, therefore, before an initial license acquisition Carry out assessment of what the potential for finding and lithium other rare earths in this area are concerned.
For more information on licensing and the license area are on the homepage of SN Commodities Ltd. available for download.
http://www.sn-commodities.com
The West Africa Mining Holding AG plans to border diversification of their commodities and equity portfolio. By participating in the SN Commodities Ltd. expands the Society in an area to which both users of lithium and rare- Earth as well as various state governments as a special strategic significance is attributed.
The portfolio of the West Africa Mining Holding AG has by now of the following investments:
100% participation in the capital of West Africa Mineral Mining Ltd.
– Current gold exploration in the northeast of the country of Guinea-Bissau,
Exploration completed Phase I (for more information under
http://www.mining.je)
– Prospecting and exploration for platinum in the Northeast
Guinea-Bissau has begun
– Further potential for exploration for minerals of all kinds, especially
of diamonds and bauxite
– Territorially unlimited Prospecting for the entire
Territory of the country of Guinea-Bissau
24.9% equity share capital of SN Mineral Mining Ltd.
– Current gold exploration in southeastern Senegal, Exploration Phase I
completed (for more information http://www.sn-mining.com)
– The license area ‘Velingara’ covers a total of 602 Square kilometers
Land area in close proximity to the already explored Gold Spots
in southeastern Senegal
– Exploration Phase II to accommodate over 5,000 Surface, and
Soil samples from the license area has already begun
– High degree of legal certainty by the end of a ‘Mining
Convention ‘with the government of Senegal, which all
The rights of exploration, on the collection up to the export already
been agreed at the conclusion are
24.9% equity share capital of SN Commodities Ltd.
– Ongoing exploration for lithium in the east of Senegal (More
Information about the license under http://www.sn-commodities.com)
– The license area ‘Baraberie’ covers a total of 1320 Square kilometers
Land area
– Historical data for a research commissioned by the Ministry for
Mining and raw materials
– High degree of legal certainty by entering into a ‘Mining
Convention ‘with the government of Senegal, which all
Rights of the investigation, on the collection up to the export already
been agreed at the conclusion are
The company is already in first Preliminary discussions with potential purchasers of lithium. Among the users of Lithium, there is currently the widely observable tendency to new Occurrence because of its strategic importance and the foreseeable Bottlenecks to secure an early stage. The currently known Lithiumvorkommen the world are mostly by Chinese and Australian Consortia controlled.
The external consultants and geologists of the SN Commodities Ltd. have the ongoing exploration costs for the licensed area ‘Baraberie’ estimated at some 7.5 million euros. The exploration is a Period will be carried out by three years. For the Fund exploration measure is the inclusion of new Members in the SN Commodities Ltd. planned. In the meantime, the West had Africa Mining Holding AG the license acquisition phase of the SN Commodities Ltd. pre-financed by a loan in the mid six-figure sum.
The West Africa Mining Holding AG plans to diversify its Commodity and equity portfolios strategically to continue and currently negotiating a stake in another Exploration project in West Africa.
For more information:
West Africa Mining Holding AG CH-6300 Untermüli 6 train
WKN: A0Q9UR ISIN: CH0045659973
Email info@westafrica-mining.com Internet http://www.westafrica-mining.com Phone +41 (44) 586 0 111
About the West Africa Mining Holding AG
The West Africa Mining Holding AG focuses as Investment company solely on promising exploration,
Mining, petroleum, gas and mining companies. The Business model of the West Africa Mining Holding AG includes the financing and Development of junior exploration companies with a above-average potential for the identification and promotion of mineral resources As all types of investment horizon, the Company seeks a term of two to five years.
About SN Commodities Ltd.
The SN Commodities Ltd., United Kingdom, with Branch office in Dakar, Senegal, is implementing an exploration exploring by lithium, and rare earth in the east Senegal. The country Senegal is one of the economically and politically stable Destinations in West Africa. Leading resource exploration company have been active for many years in Senegal. The SN Commodities Ltd. is on West Africa’s largest mining exhibition of 12 to 15 April 2010 in Dakar, Senegal, together with the SN Mineral Mining Ltd. as Co-exhibitors to be present.
For more information:
SN Commodities Ltd. 69 Great Hampton Street B18 6EW Birmingham Great Britain
Establishment Senegal
SN Commodities Ltd. 8 Rte Meridian President – R / C Esq. Almadies – Dakar
Email mail@sn-commodities.com Internet http://www.sn-commodities.com
31.03.2010 08:30 Ad-hoc reports, financial news and Press releases transmitted by DGAP. Media Library under http://www.dgap-medientreff.de and http://www.dgap.de