Yet more iron at Tete for Baobab

Drilling at Baobab Resources’ flagship Tete iron ore project in Mozambique has encountered a heavily mineralised zone at least 100 metres thick. The company's bosses reckon the drilling indicates that the zone is a continuation to the Ruoni North and Tenge resource blocks, which already provides over 300m tonnes of the Tete project’s 482m tonne resource. The find underscores our view that Baobab is one of the best early-stage iron ore miners for UK investors, particularly as the expansion of the Tenge/Ruoni resource should ultimately enable Baobab to formulate credible large-scale production plans.