Baobab Resources PLC

baobab resources plc (bao:aim) is a mozambique focused iron ore, base and precious metal explorer. the company has a large land-holding covering five discrete project areas. the tete iron ore asset is emerging as baobab’s flagship project. tete magnetite/vanadium (± titanium) project  large tonnage potential.  close to critical infrastructure and resources.  strategic partnership with ifc.  maiden drilling programme completed  initial resource estimate expected q4 2009. ifc (international finance corporation) is a strategic partner and shareholder in baobab resources plc, holding 11.45% of the issued share capital. in january 2009, ifc acquired a 15% direct interesting the tete project. mozambique is a country of abundant mineral wealth which has been hitherto under-exploited, good infrastructure and investor-friendly legislation which make it an attractive destination for mining companies. baobab's board and management have extensive technical and administrative operating experie