Bear in mind when you read the next AFX that MMS has a market cap of only 3 million.

LONDON (AFX) - Maghreb Minerals PLC said it has successfully negotiated buying the rights to the Bou Jabeur deposit in Tunisia and estimates the in-situ value of the deposit, which consists of lead, zinc, barite and fluorite, to be more than 1 bln usd, based on current prices.

Under the agreement with the Tunisian Office Nationale des Mines, the company has the right to earn a 90 pct interest in the Bou Jabeur exploration permit.

The exploration permit covers the ground referred to in the Maghreb AIM admission document of Dec 2004 as the Bou Jabeur mine concession, which covers a significant area of mineralisation including the Gite de l'Est barite-fluorite zinc-lead mine, and Maghreb's initial focus will be to evaluate the redevelopment of the mine.

newsdesk@afxnews.com

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LONDON (AFX) - Maghreb Minerals Plc said it has acquired rights to an exploration permit covering the former Fej Lahdoum mining concession in Tunisia, which includes the Dar N'Hal Nord and Dar N'Hal Sud zinc-lead deposits.

The AIM-quoted exploration company, which is developing base and precious metal and industrial mineral deposits in North Africa, said it had negotiated with the Office Nationale des Mines for a 90 pct interest in Fej Lahdoum, with an option to acquire the other 10 pct.

Reserves for the Dar N'Hal Nord deposit are estimated at 1.4 mln tonnes grading 5.6 pct lead and 6.0 pct zinc, and for Dar N'Hal Sud 400,000 tonnes, grading 5.6 pct lead and 7.7 pct zinc.

Based on current prices, the known resources have an in-situ value estimated to be in excess of 123 mln usd, said Maghreb.

The announcement followed yesterday's news that the firm had signed an agreement on Bou Jabeur, which hosts a barite-zinc-lead-fluorite deposit with estimated 1 bln usd in situ value.

Maghreb said that it believes that 'it can move quickly towards mine planning and a feasibility study with a view to commencing mining operations on these deposits'.

Gordon Riddler, Maghreb's executive chairman, said: 'We now look forward to moving rapidly to delineate an expanded resource that is expected to form the basis of a resumption of mining operations at Fej Lahdoum.

'The company has identified areas of potential mineralisation to the north and south of the Dar N'Hal Nord and Dar N'Hal Sud deposits. We believe there is the opportunity to significantly expand resources both inside the Fej Lahdoum EP which is the subject of this new agreement as well as in the company's existing surrounding exploration permit.'

'These two projects [Fej Lahdoum and Bou Jabeur], in conjunction with Maghreb's existing portfolio of assets, provide a very strong foundation on which to build a robust future for the company in North Africa.'

Thats an estimated 1.12 Billion USD worth of resources and its market cap is still only 8 Million. Surely other mining companies don't have this many reosurces but are far higher?
Rose to 19 p this morning, shows the potential.

Independent .............. In the small caps, AIM listed minnow Maghreb Minerals was the star after more than doubling on news it has won the rights to a zinc-lead mine in Tunisia. The value of the deposit is estimated to be in excess of $1bn at current commodity prices. Given that the company has a market capitalisation of just 7m, even taking into account yesterday's spectacular rally to 14.12p, a rise of 8.37p, there should be plenty of upside left in the stock.

I agree, I think a price range of 20-30p in the short term could well be in reach, although I was not surprised to see a slight pull back today.

interim results due sometime in March.

Starting to motor again.

News of a JV partner soon IMHO.

They seem at last to be getting their own act together quite effectively SW. Why would a JV partner be attractive just at the moment?... especially with CGM support in the background as you pointed out across the road.
I kicked myself for missing partial profits opportunity last month but the current buoyant recovery is encouraging. My broker is recommending taking some anyway if it gets back to 16p but this steep recovery will probably tempt me to hang on in. All depends if something has leaked or not.