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Ausmex Mining halted with news of material asset sale pending

The company is communicating with potential contractors and partners to start all the necessary work to advance Mt Freda gold production.

Ausmex Mining Group Ltd - Ausmex Mining Group in trading halt regarding a material asset sale
The company is largely unaffected by COVID-19 restrictions to date

Ausmex Mining Group Ltd (ASX:AMG) has been granted a trading halt by the ASX with an announcement pending in relation to a material asset sale.

The halt will remain in place until the beginning of trade on Monday, April 20, or when an announcement is released to the market, whichever occurs earliest.

Shares in the company, which has a market cap of approximately $23.5 million, last traded at 4.4 cents.

Unaffected by COVID-19

Ausmex recently confirmed its business activities have been largely unaffected by the coronavirus pandemic with projects including the Mt Freda Gold Complex near Cloncurry, Queensland, progressing.

The company is mindful of its obligations to ensure the health and well-being of its staff and communities where it operates, with staff and consultants primarily working remotely.

To date, all parties are cooperating well electronically to address the issues that need to be progressed and interactions with joint venture partners and potential partners continue unabated.

Ausmex director and chief operating officer Geoff Kidd said: “While these are pressing and unprecedented times, most of us at Ausmex have previously worked on major mine developments initially from within mine owner’s head offices, which has effectively been working remotely from the mine site in the early stages of all developments.”

Quick facts: Ausmex Mining Group Ltd

Price: 0.06 AUD

ASX:AMG
Market: ASX
Market Cap: $32.85 m
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