A new resource estimate for Hana Mining Ltd.’s Ghanzi copper-silver project
in Botswana was unexpectedly smaller and lower grade than a previous estimate,
sparking a plunge in the company’s share price. “We do not believe that Hana
Mining has the capacity to further develop the Ghanzi project, and the marginal
economics and high cost ... are such that we believe the asset will most likely
only have corporate appeal to nearby Discovery Metals,” an Australian company
developing its own assets in the country.
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