Kilo Goldmines Ltd (Kilo) is a gold exploration and resource development company whose strategy is to advance solely, or in partnership, our gold and iron ore prospects in the countries in which we have a presence or interest, namely the Democratic Republic of the Congo (DRC) and Afghanistan.
In the northeast DRC, we have delineated a 1.87 Moz NI 43-101 inferred gold Resource on our Imbo Licence, one of eight exploitation licences which form part of the greater Somituri Project. We are now delineating a number of other highly prospective targets within a 5 km radius of this inferred Resource estimate, with the ultimate objective of being to grow our gold resource base significantly on this licence as well as on our other properties for which we have exploration and exploitation licences.
In addition, we have a Joint venture with Rio Tinto Plc for the development of the iron ore assets associated with the exploration licences held by KWR Iron SPRL.
Whilst we believe that Afghanistan offers advantages as an investment opportunity, we firmly believe that the DRC is significantly underdeveloped with respect to its resource potential and represents a significant business opportunity for early entrants and for those who understand how to operate in this country.
For this reason, we are focusing on opportunities in the DRC and, in particular, the northeast DRC. As an early entrant, our strategy is to unlock the intrinsic financial value of the commodities contained within our exploration and exploitation licences, whilst delivering positive socio-economic benefits to our stakeholders.
Our current and historic portfolio of assets in the DRC and Afghanistan are summarised in the table below.
|Status||Licenced Commodities||Land Area km2|
|KGL-Somituri SPRL||71.25||Exploitation Permit||Au, Diamonds||606|
|KGL-ERW SPRL||75||Exploration Permit||Au, Ag, Sn, Cr, Nb, Ta, Fe||118|
|KGL-Sihu SPRL||99||Exploration Permit||Au, Diamonds||367|
|KWR Iron SPRL||75||Exploration Permit||Au, Ag, Sn, Cr, Nb, Ta, Fe||2058|
|KGL Iron Ore (BVI)||20||Fe||10|
|KGL-Masters SPRL||Relinquished – (31/03/2010)||Not applicable|
|KGL-Poko SPRL||Relinquished – (31/03/2010)||Not applicable|
We will continue to evaluate current and potential properties, their associated resources, our capacity to develop these resources including business and infrastructure enablers, and either grow or divest elements of our resource portfolio.
As a company, our mission is to unlock shareholder value by delineating our mineral assets in a strategic and socially and environmentally responsible manner.