Chairman's Letter
All shareholders and investors,
On behalf of Albidon Limited I would like to sincerely thank you for your support throughout what has been a very difficult time for the Company. As Albidon's Chairman, I am pleased to see the Company's main asset, the Munali Nickel Mine, back in operation and the company relisted on the ASX after the severe impact of the global financial crisis.
Albidon will continue to dedicate itself to furthering Albidon's internationalisation of nickel production and maximising shareholders' return.
The Company is currently focusing on achieving the production targets of the Munali mine as well as increasing the mine's production capacity and reducing costs. All these will ensure a sustainable and stable cash flow for Albidon.
The Company will also continue to carry out exploration at Munali and maximize deep sections to prolong Munali's mining life. Through increasing the investment in its license-holding areas in Zambia and other African regions, Albidon will be able to find new value driver.
Albidon will enhance strategic cooperation with its major shareholder, Jinchuan Group Ltd (JNMC), and actively seek new strategic partners and merger opportunities with small and medium nickel sulfide companies. With the technological support from its major shareholder, Albidon is planning to diversify its business to include non-ferrous metals such as copper and cobalt.
There is a Chinese saying: The rainbow comes after a storm. We believe Albidon will have a brighter future after experiencing the baptism of the global financial crisis. With the great support of JNMC and all shareholders the Board and I believe Albidon will blossom into an important international mining company.
