African Consolidated Resources

African Consolidated Resources (ACR) is a mineral exploration company, headquartered in London, with a local head office in Harare, Zimbabwe. ACR listed on the AIM market of the London Stock Exchange on June 30, 2006.

ACR seeks to acquire and prove up top-quality gold, PGE, diamond and base metals assets in Zimbabwe, at discounts to international market value. Our two lead gold projects, the Giant and Pickstone-Peerless mines, historically produced approximately 1 million ounces of gold from high-grade underground operations. There remains excellent potential to exploit the lower-grade halo in all directions around the old mines, and ACR has a target of defining 2-3 million ounces using modern exploration targeting technology.

The two projects currently contain near-surface JORC resources of 813,000 Oz, much of which is expected to be open-pittable using modern mining methods. Depth potential is evidenced at the Pickstone Mine which was historically developed by Rio Tinto down to 750m depth.

In addition ACR have acquired a multitude of brown field and green field properties for other minerals.

ACR is also using leading-edge exploration technologies such as spatial data management software, 3D visualization, new geophysical modeling techniques, innovative geochemistry and risk-managed targeting, to generate a pipeline of exciting new projects across the whole of Zimbabwe, and ultimately the broader region.

Highlights

Admission to AIM, raising GBP 4m at a price of 12p per share
Good progress made in first phase drilling at Pickstone Peerless and Giant mines - including discovery of southern extension to the Giant Mine and confirmation of gold lodes on Duchess Hill at Pickstone. Comprehensive soil geochemistry has been completed on the Renco target in the Lowveld
Acquisition of the eastern block of Snakes Head platinum project agreed. Geological mapping completed on the west block. Mapping has identified the only known gabbro cap on the Great Dyke which appears to be fully intact - encouraging sulphide mineralisation observed in reconnaissance rockchips
Three primary nickel targets acquired, with work programmes either planned or commenced. State of the art Mobile Metal Ion geochemistry programme planned for extensive holding in Chakari
Diamond find - some teething issues - bulk sampling programme planned
July 2007 raised GBP 4.5million at a price of 14.5p per share
Aug 2007 Resource update by SRK using revised and more conservative methodology 813,000 Oz inferred.

Our Mission

To be the premier explorer and miner in the re-emergent minerals industry in Zimbabwe.
To acquire in-ground resources at discount prices.
To add new resources through risk-managed exploration utilizing modern and proven techniques.
To use ACR's experience in the Zimbabwean social, political and industrial systems to ensure logistics and permitting are rapidly achieved and sovereign risk is managed.
Expand the current resource base.