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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	MZM
Latest Price:	0.32 (-3.03% )
52-week High:	0.90
52-week Low:	0.25
Market Cap:	21.52M

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Montezuma Mining Company Full Montezuma Mining Company profile here

Montezuma Mining Company (ASX: MZM) has in excess of 3,000 km2 of exploration tenure in Western Australia, with multi-commodity prospectivity including gold, copper, nickel and uranium targets.

The company's Butcher Bird Project contains the historic Butcher Bird mine, a high grade near surface copper mine which targeted supergene copper mineralisation. The mine has recorded production of 8.46t of copper at an average grade of 22.6%.

Montezuma Mining announces major shareholder in Subscription Agreement

Wednesday, December 02, 2009

Montezuma Mining (ASX: MZM) has announced major shareholder Auvex Resources has entered into a Subscription Agreement with Australian based investment company Investco under which the Company has agreed to issue 4.2 million fully paid ordinary shares in the capital of the Company at an issue price of $0.35 each.

The subscription monies are payable to the Company by 19 December 2009.

Montezuma are a major shareholder in Auvex, with 10M fully paidshares or approximately 16.7% of the total shares on issue.

Auvex intends to use the $1.5m raised for working capital purposes and for exploration in relation to its interests outside of the Ant Hill and Sunday Hill Project.

Under the Subscription Agreement, Auvex also granted Investco a right to offer to subscribe for additional Shares, valued at up to $2m, at an issue price to be determined by the company in the event that it elects to raise further funds prior to lodging a Prospectus with ASIC in connection with any application by the company to list on the ASX.

Investco has agreed to execute such restriction agreements in relation to the Shares to be issued to Investco under the Subscription Agreement as may be required by ASX in the event that the Company is admitted to the official list of the ASX.

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