The Cortellazzi Consortium

April 20, 2008

A Territory Covering A Distance Of…

Filed under: Uncategorized — 18montecristo67 @ 2:23 am

Since January 2008, UMining has consistently suggested in multiple press releases ( 16 January 2008, 21 February 2008, 28 February 2008, 13 March 2008 ) that Comitrag S.A. (a private building and development company headquartered in West Africa which UMining claims to own a majority interest) has secured a mining concession, they describe this single iron ore concession as:

“The mining concession consists of a territory covering a distance of 55 kilometres.

In February 2008, the location of the iron ore concession was identified:

“The Mining Concession consists of an iron ore property situated in the Mount Simandou region of southeastern Guinea. The property covers a 55-km-long zone in the Simandou Mountain Range. ”

In their latest press release, UMining indicated “maps and other similar mining and resource-oriented data” would be available on their website (the Comitrag Guinea Project on the UMining website links to the Comitrag website).

Comitrag has made available a map in pdf format on their website which it identifies as the mining concession which is described as “a 55-km-long zone in the Simandou Mountain Range

The map which appears on the Comitrag site is an old French geographic survey on which the purported mining concession appears identified solely as “Simandou Mining Concession Map” (click to view larger size ):

The scale appears at the bottom of the map and with this scale, the blog has determined the grid squares of the map provided by Comitrag are approx 16 KM long and wide. Grid squares (click on map below to view) were placed next to the length of the mining concession in order to determine the length of the “Comitrag” concession as appears on the map and the result is well over 55 KM, it is approximately 110 KM in length.

The 110 KM long mining concession which appears on the Comitrag map does exist, however it was awarded to Rio Tinto in 2006, not Comitrag.

“Rio Tinto’s first introduction to the project was in 1996, when they were invited to inspect the area by the Guinean Government. After successful reconnaissance visits in 1996, four Exploration Licences were applied for and granted in February 1997. Exploration and evaluation programmes have been actively carried out on the licences from 1997 and are continuing with expenditure to date being ~US $50M with a further US$145M committed to year-end 2008. This funding is to complete the ‘Pre-feasibility Study at Pic de Fon and Oueleba’ and assess the potential of other target occurrences in the northern portion of the Mining Concession (Northern Targets).

The Simandou Mining Convention covering the legal and fiscal terms and conditions for mining within the Simandou Mining Concession was signed into Law in February 2003 and the related Mining Concession granted in March 2006. The 740km2 Mining Concession (MC) covers a 110km long portion of the north–south trending Simandou range. “

At page 11 of a July 2007 report, Rio Tinto provides a map to their 110 KM concession (graphic below):

Another map of the area without the Rio Tinto mining concession is provided for readers so they may compare the areas on this map with the others to locate nearby towns, villages and other reference points.

In short, UMining press releases have consistently contained misleading information about the Comitrag “mining concession” since January 2008.

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