logo-loader
viewMetallum Ltd

Mining Group is off to market

australiancash350_52146e9650ec7.jpg

Mining Group (ASX: MNE) is heading to market with a capital raising and has been granted an ASX trading halt with its shares placed in pre-open.

The company has earlier this month entered into an option agreement to acquire up to 90% of the El Roble copper project in Chile that offers near term production and cash flow.

El Roble is located 25 kilometres east of the Chilean port city of Caldera within the world class Atacama IOCG province and is close to Coro Mining Corporation’s 94 million tonne at 0.5% copper Cerro Negro copper mine.

Due diligence rock chip sampling had returned up to 28.83% copper and the mineralisation has been mapped over a 6 kilometre strike.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 23 August 2013.

 

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: Metallum Ltd

Price: - -

ASX:MNE
Market: ASX
Market Cap: -
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

Watch

Proactive analyst Ryan Long talks tin prices used in economic studies

Proactive mining analyst Dr Ryan Long takes a look at the tin price used by companies in economic studies. He says net present value and internal rate of return are two of the most commonly used metrics to compare the value of different mining projects but the fatal flaws with using these...

2 hours, 10 minutes ago

2 min read