Look here's another similar shopper of future resources

September 12, 2008

Anglo American to purchase 12% stake in Magma Metals

It is reported that Anglo American is to purchase a 12% stake in Perth based explorer Magma Metals for around AUD 8.08 million.

Magma Metals said that the funds will primarily be used to finish the 24,000 meters diamond drilling program at its Thunder Bay North platinum palladium copper nickel project in Canada, as well as to finance follow up drilling programs and geophysical surveys designed to establish the project’s scale and scope.

Magma Metals said that “This investment, by one of the world’s largest resources companies, recognizes in particular the significant potential of Magma’s Thunder Bay North project.”

Drilling intersected 61.7 meters at 5.61 grams per tonne platinum palladium, 0.66% copper and 0.38% nickel from 29.3 meters, including 35.5 meters at 8.83 grams per tonne platinum palladium, 1.04% copper and 0.57% nickel and 0.7 meters at 26.5 grams per tonne platinum palladium, 3.47% copper and 1.56% nickel."