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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	MET
Latest Price:	0.40 (6.76% )
52-week High:	0.70
52-week Low:	0.24
Market Cap:	64.64M

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Mt Isa Metals

Mt Isa Metals (ASX: MET) is an Australian-based resource company focused on the discovery and development of large-scale gold and copper deposits.

Mt Isa Metals capital raising success spurred by West African gold projects

Thursday, September 09, 2010

With a large land position in the uber-hot West African Birimian Gold Province of over 5,000km2, Mt Isa Metals' (ASX: MET) capital raising has met with strong demand with institutions snapping up $1.9 million of shares in an entitlement offer at $0.15 per share.

A second retail offer to raise $2 million will follow, which will be fully underwritten by Bizzell Capital Partners.

Proceeds will be used in conjunction with existing cash reserves to fund an aggressive gold exploration program at Mt Isa's Burkina Faso tenements in West Africa.

This exploration will include significant drilling programs on identified high grade gold prospects. High grade gold assays have been recorded from three prospect areas to date at the Kongolokoro Project, which are adjacent to large scale to large-3rd party gold deposits.

Peter Spiers, managing director, said, “The Institutional Offer received strong support from existing major shareholders and new investors."

"Following completion of the Entitlement Offer MET will be in a strong financial position to complete an aggressive exploration program in Burkina Faso over the next 12 months.”

MET shares have resumed trading today.

Mt Isa Metals is 48.2% owned by D’Aguilar Gold (ASX: DGR).

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