Proactive Investors - Run By Investors For Investors

Balamara Resources retains full ownership of Montenegro base metals project

Balamara Resources retains full ownership of Montenegro base metals project

Balamara Resources (ASX: BMB) will retain its 100% interest in the Monty base metals project in Montenegro after terminating its farm-out to Centurion Resources (LON: SWC ) for strategic reasons.

Under the now-terminated contract, Balama had agreed to sell a 10% interest in its subsidiary North Mining Doo, the 100%-owner of Monty, to Centurion.

It will now return the required funds to Centurion in the coming days.

Balamara is currently carrying out an infill drilling program at the Zuta Prla deposit at Monty.

Monty has a JORC Resource of 9.15 million tonnes at 3.78% zinc, 1.24% lead and 0.29% copper.

It is located in the eastern part of Montenegro near the town of Mojkovac and about 100 kilometres from the capital city of Podgorica. 

Mojkovac is linked by rail and road between Podgorica and Belgrade, Serbia.

Brskovo was a historical mining centre and is mentioned in history books describing the Balkans in the Late Medieval period. Brskovo on the banks of the Tara was first mentioned in 1253 and was Serbia’s largest silver mine in the second part of the thirteenth century.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

Live Company
March 05 2019
Since listing on AIM in December 2017, the company has been pursuing an aggressive strategy of expansion and brand building that has paid off for the share price.
clapperboard
March 04 2019
At the Completion Contract business there have been lower volumes and the average budget per film has reduced
Students in a class
August 27 2018
The company is gaining traction in Asia where people are looking to take language courses to work or study internationally

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use