Latest update: 05-13-08

Corporate Profile

TEAL is a growth-oriented mineral development and exploration company, which team intends to build on its track record in southern Africa, including its recent gold discovery at the Otjikoto Gold Project in Namibia. Over the past decade, TEAL's management has assembled a portfolio of near to medium-term development projects and exploration areas. The Company is currently focused on its properties located in Zambia, Namibia and the DRC, and continues to seek other opportunities, mainly in southern and central Africa.

Four specific projects have been targeted, the Konkola North, Mwambashi and Kalumines copper projects, as well as the Otjikoto Gold Project, each of which is being progressed towards feasibility and development decisions and each of which, management believes, has the potential to be brought into production in the near to medium-term.

TEAL's senior management team is supported by 20 full-time personnel (including contract employees) comprised of geologists, geotechnicians, mining engineers, an accountant and 11 support staff based in established offices in Namibia and Zambia. In addition, TEAL's staff is supplemented by various external contractors with appropriate geological and technical skills.

Corporate Strategy

TEAL's objective is to become a significant producer of base and precious metals by pursuing the following strategies:

  • Generating value from its existing mineral projects by progressing each through clearly defined and articulated milestones, including increasing mineral resources and completing feasibility studies, which, subject to the receipt of positive results, will lead to the commencement of mining operations;
  • Continuing exploration of high priority targets in the prospective areas currently controlled by TEAL;
  • Seeking additional development and production opportunities and complementary exploration properties; and
  • Building on TEAL's history of operating in the region where it has established positive relationships with governments and service providers, and has gained regional credibility.

TEAL has been an early-mover in Zambia and the DRC and continues to focus on areas that have recently experienced economic and investment liberalization. In addition, TEAL's presence in the region assists the Company in its dealings with local governmental and regulatory bodies. TEAL has developed an extensive database of local and regional geology, mineral deposits, operating mines and processing facilities, as well as a general awareness of corporate mining activities and developments in southern and central Africa.

In Zambia, TEAL established a development office in 1995, the year in which the privatization of state-owned mines commenced. As a result, the Company has had the opportunity to evaluate numerous potential mineral and exploration projects in the country, and the Company believes that it has secured some of the most prospective ground in Zambia. The Company's current interests in the Zambian Copperbelt include the Konkola North Copper Project and the Copperbelt Joint Venture Exploration Area, within which is TEAL's Mwambashi Copper Project. These projects were acquired from the Zambian Government between 1995 and 1997. The Company focuses on projects that it believes can be producing in the near to medium-term or offer the potential for long-term production. The Company focuses its exploration on areas that may host mineralization in structures not previously explored. TEAL's experience and relationships in Zambia also led to the Company's participation in the Kafue Joint Venture Exploration Area along with BHP Billiton in respect of three licences covering approximately 2,168 square kilometres.

In Namibia, TEAL established a development office in 1992 in that country's capital, Windhoek. Following a period of regional exploration, TEAL was awarded various concessions in the country and, for most of the 1990s, focused on base metal exploration. Target generation studies, systematic exploration and, in particular, extensive airborne geophysical surveys, led to the Company's discovery of gold mineralization in the Otavi area. In 2003, Teal drilled and completed a resource estimation of a portion of this mineralization. TEAL has used this discovery, along with its geological knowledge of the local region, to acquire a licence-holding in excess of 3,000 square kilometres, including a recently granted licence (Licence No. 3177), in the vicinity of the Otjikoto Gold Project.

In the DRC, TEAL has been evaluating and reviewing numerous operations, prospects and mineral occurrences since 1999. In the process, the Company has established an extensive geological and mining database. TEAL participated in the drafting of the World Bank sponsored New Mining Code enacted in the DRC in 2002. TEAL has developed a strategy of seeking partially defined copper mineralization with up-side potential and has identified the Kasonta-Lupoto region as meeting its criteria. In early 2005, TEAL was able to secure the Kalumines Copper-Cobalt Project pursuant to a joint venture with Gécamines. The Company believes the project has potential for near to medium-term production.

back to top