Kilo Goldmines is focused on the Democratic Republic of Congo, where it is drilling several past producing gold mines, with the ultimate aim of developing projects to full production. The management team has a history of success working in Africa and has three joint ventures in a land holding of more than 4,500 sq km. An updated inferred resource in March 2012 for the Adumbi deposit at its 606 sq km Somituri project revealed 1.9 mln ounces gold at 1.6 g/t and 1.6 mln ounces at 2 g/t silver. The company also has a strategic partnership with mining giant Rio Tinto for the iron ore assets on the company's properties. Kilo Goldmines is listed on the TSX Venture Exchange and the Frankfurt Exchange.
Alex Van Hoeken, President & CEO of Kilo Goldmines (TSX-V:KGL), and Paul Harbidge, Group Exploration Manager at Randgold Resources (LON:RRS), explain to Proactiveinvestors the details of the agreed joint venture in the Democratic Republic of Congo. Alex gives the shareholder case and says that while the two have agreed a five-year plan to reach the pre-feasibility study the two companies will work as fast as they can to move ahead with the project. Both Paul and Alex explain that each company will be able to share in the cost savings that arise out of the agreement.
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