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Montezuma Mining Company becomes substantial holder of Lefroy Exploration

Published: 08:00 24 Oct 2016 AEDT

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Montezuma Mining Company Ltd becomes substantial holder of Lefroy Exploration

Lefroy was recently reinstated to official quotation on the ASX, with Wade Johnson as managing director.

Lefroy is focused on the high-grade gold and nickel deposits in the Yilgarn Craton of Western Australia.

The company is well-funded to undertake exploration with $3.78 million in cash and no debt.

Montezuma Mining received the stake following the sale of granted exploration licence E15/1447 to Lefroy.

The shares had a deemed value of $0.20 per share, or circa $840,000.

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