15 September 2009
Australian stockbroking firm Lonsec Limited has updated its coverage of Globe Metals & Mining and issued a buy recommendation on the company. The buy recommendation is based upon the recent US$10.6 million investment by South African engineering firm Thuthuka Group Limited to fund 85 per cent of the estimated cost of the bankable feasibility study into Globe's Kanyika Niobium Project in Malawi.
The contribution earned TGL an immediate 25 per cent interest in Globe's wholly owned African subsidiary, which is the holder of the project.
TGL is a world class multi-disciplinary engineering company that brings extensive technical expertise that is extremely relevant to the project, including metallurgical processing, acid handling, process and civil engineering, and water and chemical treatment knowledge and experience.
Globe Metals & Mining is an African-focused uranium and specialty metals resource company. Its main focus is the multi-commodity (niobium, uranium, tantalum and zircon) Kanyika Niobium Project in central Malawi.
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