und PräsentationsterminMillennium Minerals
Full Millennium Minerals profile here
Millennium Minerals Limited (ASX:MOY) is an emerging metals company focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia. The high-quality portfolio encompasses a large gold inventory and a secondary molybdenum project.
Millennium Minerals closes underwritten A$23.2m rights issue to progress 1.25m oz Nullagine
Wednesday, March 23, 2011 by John Phillips Millennium Minerals (ASX: MOY) has closed the fully underwritten A$23.2 million rights issue, with the new inflow of cash to advance the 1.25 million gold ounce Nullagine Gold Project.
Shareholders took up 39.6% of the rights, which is very promising considering the global turmoil in the past month when the offer was open, with the remaining 60.4% to be taken up by Patersons Securities, the underwriter and lead manager to the issue.
Most importantly for the emerging gold producer, is of the likelihood Nullagine will have a boost in gold resources.
Just last week Millennium intercepted near surface gold at the Shearers and Otways prospects.
Significant gold intercepts at Shearers included:
- 21 metres at 1.31 grams per tonne (g/t) gold from 36 metres;
- 20 metres at 2.09 g/t gold from 62 metres; and
- 13 metres at 1.89 g/t gold from 12 metres.
At Otways results included:
- 6 metres at 3.46 g/t gold from 28 metres;
- 4 metres at 3.37 g/t gold from 16 metres; and
- 4 metres at 2.11 g/t gold from 18 metres.
Exploration was designed to follow-up on drilling from 2010, and was successful in identifying the company's goal of additional mineral resources.
A 10,000 metre reverse drilling campaign will now target the Shearers and Otways discovery zones.
Millennium will be presenting at the upcoming free investor event “Stars in Resources 2011 Series” in Sydney on Wednesday 6 April . For more information, or to register, click here. |
Thread abonnieren
