logo-loader
Xanadu Mines Ltd

Xanadu Mines gains Canadian bank as substantial shareholder

Xanadu's Kharmagtai project is a premier undeveloped copper-gold asset.

1510009714_canadian-flag-1.jpg
The company is targeting near-surface porphyry copper-gold deposits

Xanadu Mines Ltd (ASX:XAM) has received a notice of initial substantial shareholder from the Bank of Nova Scotia (and associates / affiliates), which holds 40.25 million shares for a 6.84% stake.

The notice was lodged on behalf of 1832 Asset Management L.P, manager of the Dynamic/Scotia Funds.

Xanadu has been a strong performer in recent months, last trading at $0.30, or around 50% higher than two months ago.

The company's flagship Kharmagtai project is located in Mongolia, and currently hosts three porphyry deposits in close proximity to each other, Stockwork Hill, White Hill and Copper Hill.

The three deposits have a combined JORC resource of 203 million tonnes at 0.34% copper and 0.33 g/t gold for circa 1.1 million tonnes of copper equivalent.

The project continues to emerge as one of the premier undeveloped copper-gold assets globally.

Quick facts: Xanadu Mines Ltd

Price: $0.06

Market: ASX
Market Cap: $41.99 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...

In exchange for publishing services rendered by the Company on behalf of Xanadu Mines Ltd named herein, including the promotion by the Company of Xanadu Mines Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Xanadu Mines boosts Kharmagtai project value with potential low-cost gold...

Xanadu Mines Ltd (ASX:XAM) managing director & CEO Andrew Stewart speaks to Proactive Investors about the company's Kharmagtai Copper-Gold Project in Mongolia.    Preliminary test work on diamond core from shallow oxide gold mineralisation has revealed an opportunity for...

on 20/3/19

2 min read