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Metro Mining Ltd

Metro Mining new director shows faith in company with initial on-market purchase

The company’s flagship project is the Bauxite Hills Mine within the internationally acclaimed Weipa Bauxite region.

Truck load of bauxite
The definitive feasibility study for an expanded Bauxite Hills operation is expected this quarter

Metro Mining Ltd's (ASX:MMI) new non-executive director Fiona Murdoch has demonstrated faith in the company's bauxite strategy with her initial on-market purchase of shares.

Murdoch, who was appointed to the board in March, purchased 150,000 ordinary shares on June 5 for total value of $20,050, share marking her first purchase in the company.

READ: Metro Mining appoints MBA and honours degree graduate Fiona Murdoch to board of directors

The company's shares last traded at 13 cents.

Murdoch has more than 28 years of experience in the resources and infrastructure sectors in Australia and internationally.

With an honours degree in law, her mining sector experience includes senior operational roles with AMCI investments, MIM Holdings and Xstrata Queensland.

READ: Metro Mining confirms it is getting the job done at today’s AGM

Last month the company’s chairman Stephen Everett and managing director and CEO Simon Finnis addressed shareholders on its successful transition from developer to operator.

It noted bauxite production in 2018 went as planned, laying a proof-of-operational concept given production guidance was met even with external challenges such as weather.

READ: Metro Mining unaffected by China refinery audits, working towards 75% more production in 2019

Addressing the AGM, Everett said: “I think it is fair to say Metro is on its way.

“We shipped over 2 million tonnes of bauxite in 2018 and we have announced upgrade production guidance to 3.5 million tonnes for this year.”

Quick facts: Metro Mining Ltd

Price: $0.11

Market: ASX
Market Cap: $152.34 m
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Metro Mining lifts production guidance for 2019 by 17%, Stage 2 DFS update...

Metro Mining Ltd (ASX:MMI) managing director & CEO Simon Finnis updates Proactive Investors on quarterly results, with a focus on increasing production levels from the Bauxite Hills Mine in northern Queensland, Australia. The company is currently working on an updated definitive...

on 8/2/19

2 min read