BVI-based company receives bullish estimates for its Platinum Project

AfriOre Limited (AFO.TO) is a British Virgin Islands-based company that specializes in the acquiring resource properties and exploration and development of platinum and gold projects in Africa. The company held its projects in Namibia, Kenya, Mali, etc. Its executives and senior management can boast of extensive international experience in the mining industry, mostly focused on South Africa where AfriOre maintains aggressive exploration and acquisition programs. AfriOre has representatives in almost all the countries where it operates. The technical operations are managed from the AfriOre's representative office in Johannesburg. The company's treasury is about CDN$ 24.6M.

In the end of May, a report "AfriOre Limited: Akanani Platinum Project, Limpopo Province, South Africa, Project No. J883" was released. The report was written by a Professional Natural Scientist J.C. Witley employed by Snowden Mining Industry Consultants (international minerals consultancy group, independent of AfriOre). The report presents an initial inferred mineral resource estimate of 183.0 Mt at a grade of 4.5 g/t PGM (platinum, palladium, rhodium plus gold), which is 26.4 million ounces of PGM and 0.24% nickel and 0.14% copper over an estimated true width of 16.6 m. The press report released forward-looking statements that reflect the current expectations and beliefs of the AfriOre and are based on the information available to the company. Of course, forward-looking statements are not guarantees as they concern the date when they were made, but some uncertaincies are possible because of what the future may bring.

In the beginning of June, metals newsletter editor Robert Bishop who gives prognostications for mining projects expressed quite a bullish opinion about this BVI-based company's Akanani Platinum Project in the Limpopo Province of South Africa. He believes that this project could be bought by another mining company.