29 Jun 2010 07:00
29 June 2010
Bellzone Mining plc
("Bellzone" or the "Company")
Annual Financial Statements
Further to AIM Rule 20 the Company can confirm that its annual financial statements for the year ended 31 December 2009 were posted to shareholders and are available on the Company's website www.bellzone.com.au.
Enquiries:
| Bellzone Mining plc Nik Zuks |
+61 439 420 893 |
|
Canaccord Genuity Limited Nominated Adviser and Joint Broker to Bellzone Andrew Chubb/Tarica Mpinga |
+44 (0)20 7050 6500 |
|
Renaissance Capital Limited Joint Broker to Bellzone Simon Matthews/Thomas Beattie |
+44 (0)20 7367 7777 |
|
Conduit PR Charlie Geller /Jos Simson |
+44 (0)20 7429 6604 / +44 (0) 7528 233 383 |
Bellzone Mining plc
Bellzone Mining plc is an iron-ore exploration and development company with assets in Guinea, West Africa. The Company's flagship project, the Kalia Iron Project, is underpinned by its 100% owned Kalia iron deposit which has a maiden inferred magnetite JORC resource of 2.4 billion tonnes, located on the Kalia I prospect. Previous drilling results and internal estimates indicate that the Kalia iron deposit has the potential to host more than 13 billion tonnes of magnetite ore and 2.9 billion tonnes of surface oxide. Exploration work continues to further delineate and increase the resources at Kalia with the SEIA and EIA studies already underway in support of the Bankable Feasibility Study.
Bellzone intends to develop a 50 million tonnes per annum ('mtpa') iron ore operation through a two staged approach. First production is expected in 2014 at 20mtpa which is expected to fund the expansion to 50mtpa schedule for completion in 2018.
On 24 May 2010, Bellzone reached a Binding Memorandum of Understanding ('MOU') with China International Fund ('CIF') with regards to the financing of the infrastructure required for the Kalia Iron Project.
The Binding MOU is subject to the parties agreeing and executing definitive agreements for the infrastructure company, joint venture agreement and off-take agreement on or before 30 June 2010 or such later date as is agreed between the parties.
Bellzone is listed on the AIM market of the London Stock Exchange under the ticker 'BZM'.
www.bellzone.com.au