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Discovery Metals (DME:AIM) 20.75p

The pre-feasibility study on its Maun copper project in Botswana will be published in June, followed by the results of a bankable feasibility study by December. Metal grades to date indicate Maun will be richer than most copper projects run by junior miners. Most Aim explorers have deposits under 1% copper, but Maun is currently averaging 1.4% copper equivalent. Around 10% to 15% of revenue should come from the strong silver content. The copper should be easy to treat, producing a high-grade concentrate due to the nature of the deposit. It still hasn’t decided whether to sell Dikoloti, a nickel project that faces complex metallurgical issues. Having tested bio-leaching methods, the company has now halted all work on the project while it focuses on Maun.