Tsodilo Resources Limited (TSD.V) 2012年年度报告「TSX-V」.pdf

1、T sodilo Resources LimitedAnnual Report 20121tsodilo resources limitedPresidents Message Dear Shareholders,On behalf of the board of directors,I am pleased to provide the annual report of Tsodilo Resources Limited(“Tsodilo”or the“Company”)recording the Companys progress together with the audited fin

2、ancials for the year ending December 31,2012.Although the outlook of the metal commodity markets was reasonably positive in 2012,funding for exploration is still limited and mainly focused on brownfields evaluation projects.Despite these circumstances the Company was able to commence an evaluation p

3、rogram over one of its more interesting projects.A more detailed drilling program,referred to as Phase 2,is focused on three of its metal mineral projects that were identified by its Phase 1 reconnaissance drilling program.The latter was completed in 2011.The objective of Phase 2 is to refine the ge

4、ological models and mineralization styles of these targets.These steps will form the basis to develop the first resource model for the Companys most advanced project,which is the Iron Ore Magnetite project.The prices of rough diamonds,after an initial upswing,were again negatively affected during th

5、e course of the year and hence the general appetite for greenfields diamond exploration remains low.However,the Company will continue the exploration for new kimberlites and was recently granted a prospecting license close to Jwaneng,the richest diamond mine in the world,in the south of Botswana.We

6、also plan to complete a first-stage evaluation and analysis of an additional kimberlite in the Nxau Nxau kimberlite field.The privileged and advantageous position in which the Company is finding itself is having two drill rigs and fully equipped ground magnetic teams on site which means that conside