Baobab Resources Plc

Baobab Resources plc (BAO:AIM) is a Mozambique focused iron ore, base and precious metal explorer. The company has a large land-holding covering five discrete project areas. The Tete iron ore asset is emerging as Baobabs flagship project. Tete magnetite/vanadium ( titanium) project Large tonnage potential. Close to critical infrastructure and resources. Strategic partnership with IFC. Maiden drilling programme completed Initial resource estimate expected Q4 2009. IFC (International Finance Corporation) is a strategic partner and shareholder in Baobab Resources Plc, holding 11.45% of the issued share capital. In January 2009, IFC acquired a 15% direct interesting the Tete project. Mozambique is a country of abundant mineral wealth which has been hitherto under-exploited, good infrastructure and investor-friendly legislation which make it an attractive destination for mining companies. Baobabs board and management have extensive technical and administrative ope...