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Blackthorn Resources Limited is an Australian-based resources company with a focus on advancing the Kitumba Copper Project and exploring high priority exploration targets on its Mumbwa tenements in Zambia.
The Mumbwa Project hosts the Company’s flagship Kitumba deposit and is located in west-central Zambia, approximately 200km west of the capital, Lusaka. The Mumbwa Project comprises five contiguous licences with a total area of approximately 1000km2.
In April 2014, Blackthorn Resources announced that it had entered into an agreement with its joint venture partner Glencore to sell its remaining 27.3% equity interest in the Perkoa Project in Burkina Faso to Glencore. Following approval by Blackthorn Resources' shareholders in August 2014, the sale of the Company's equity interest in the Perkoa Project was completed with the Company receiving settlement proceeds of US$10 million.
In August 2014, Blackthorn Resources and Intrepid Mines Limited (ASX Code: IAU) announced their agreement to merge by way of Scheme of Arrangement. The merger creates a well funded copper company in a strong position to realise the potential of the Kitumba Cooper Project and add value to the broader Mumbwa Project licence areas in Zambia. The Scheme, which was subject to the approval of shareholders of both companies, was approved by the Federal Court of Australia on 26 November 2014 and was implemented with effect on 11 December 2014. Under the Scheme, from 11 December 2014 Blackthorn Resources became a wholly-owned subsidiary of Intrepid Mines.
Details of Intrepid Mines can be obtained from its website at www.intrepidmines.com
Blackthorn Resources Limited is pleased to provide the following Chairman's Address made at today's Annual General Meeting.
Blackthorn Resources is pleased to announce the results of today's Annual General Meeting dated 27 November 2014.
Blackthorn Resources is pleased to announce the following update regarding Court Approval of Scheme Arrangement.