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Top End Minerals new board to capitalise on strong zinc prices

The new board comprises John Lamb, Jeffrey Moore and Rowan Caren.
a physical file entitled due diligence
The zinc price is up over 30% during the past 12 months

Top End Minerals’ (ASX:TND) new board has had its positive outlook for zinc reinforced by the sustained increase in the international price for zinc metal and strong underlying demand for zinc supply.

The company has identified and secured options over two opportunities that, in combination, could establish the company as an immediate producer of zinc metal in Myanmar.

The board remains focused on progressing both the Cornerstone Option to acquire 60% ownership of Cornerstone Resources (Myanmar) Limited and the Bawdwin Option for an 85% participating interest in the Bawdwin zinc-lead-silver-copper polymetallic mine lease.

The company therefore seeks to establish itself as a significant regional metals producer based in Myanmar with a focus on base metals and accompanying silver, copper and other byproducts.

Top End can achieve metal production from the Lashio refinery, in the short-medium-term by producing metals concentrates, principally lead, zinc and silver, from a potential open pit at Bawdwin.

The longer term goal is to be producing metals concentrates from the Great Bawdwin Mine.

Due diligence ongoing

Due diligence is ongoing on both the Cornerstone Option and Bawdin Option.

Regarding the Cornerstone Option, due diligence on the Lashio refinery and general financial due diligence has been complete.

Due diligence is now focused on the readily available Namtu Smelter Slags that could provide many years of zinc-rich feed to the Lashio refinery.

Regarding the Bawdin Option, initial technical due diligence is focused on the lower-grade near-surface halo mineralisation.

Summary and plan going forward

Notwithstanding the financial position inherited when the new board took over control of the company on 19 June, Top End has a bright future given the quality of the projects under consideration in Myanmar and the strong support of its financiers.

The board is confident that the company will be able to successfully negotiate the challenges that lie ahead and emerge as a significantly superior listed company to that which was presented at 19 June 2017.

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