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Tethyan Resources 'well funded' to complete Suva Ruda program

Pete Mullens, CEO of Tethyan Resources (LON:TETH), caught up with Proactive Investors at Mines and Money 2016.

They've recently secured a new cornerstone investor in Southern Arc Minerals Inc (CVE:SA).

Discussing their Suva Ruda project in Serbia, Mullens says: ''It's a porphyry copper project, it's in an old mining district that was focused on for lead-zinc. We believe there's potential for  copper-gold.''

''We were looking for a smaller project, maybe in the order of 300-500 million tonnes. It's got good grades for that part of the world. We've completed some mapping and we're currently completing a 2,500 metre drill program.''

Mullens adds: When I joined the company around a year ago we had about £1 mln and we've burnt through £500-600,000 of that but we recently undertook a capital raising. We went to Canada  to complete that - London wasn't as interested in early stage projects - and we got some support out of Toronto.''

''We'll be well funded to complete this program and move forward next year''.

 
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