leadf
logo-loader
viewBMG Resources Ltd

Brazilian Metals Group to announce 'material agreement'

au_brazil350_50bfea1565514.jpg

Brazilian Metals Group (ASX: BMG) is preparing to announce a 'material agreement' to the market, with the ASX granting the company a trading halt this morning and placing its shares in pre-open.

Brazilian Metals has recently been focused on consolidating its large scale Rio Pardo exploration project in Minas Gerais, Brazil, and seeking new more advanced project opportunities which are capable of being developed under current market conditions.

The company said in the September quarterly that the Rio Pardo project remains a longer term opportunity with the potential to support a large scale, low cost mining operation.

In the near term there are minimal expenditure requirements and the company will seek to incrementally progress the opportunity without committing any significant cash expenditure, and revisit the program as market conditions improve.

The halt will last until the earlier of an announcement being made to the market, or the open of trade on Monday 10th December.

 

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.

Quick facts: BMG Resources Ltd

Price: 0.013 AUD

ASX:BMG
Market: ASX
Market Cap: $8.73 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

GTI Resources upbeat as it kicks off aircore drilling program at Niagara...

Rob Holm, senior consultant with CSA Global, speaks with Proactive Australia's Andrew Scott following the news GTI Resources Ltd (ASX:GTR) has started an initial aircore drilling program at Niagara Gold Project near Kookynie in WA. CSA Global's managing the project and Holm says a 60-hole...

8 hours, 54 minutes ago

2 min read