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EPIC: MNC
Market: AIM
52-week High/Low: 0.55p / 0.13p
Sector: General Mining - Copper
Market Cap: 6.49M
Phone: + 61 (0) 2 9460 1856
Address: Level 6, 122 Walker Street, North Sydney, NSW 2060, Australia.
Website: www.metminco.com.au
Metminco Ltd

Metminco Ltd

Metminco (MNC), incorporated in Australia, is an ASX and AIM listed exploration and mining company. It is advancing a strong portfolio of exploration projects located in Chile and Peru, mainly focused on copper, but with significant exposure to molybdenum, gold and zinc. Projects range from early stage exploration, through advanced stage exploration to pre-feasibility. Metminco is traded in the ISDX Exchange HERE

Metminco Ltd

www.metminco.com.au

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Big picture - Why invest in Metminco Ltd


Metminco Ltd Snapshot

Company Statement

At Metminco Limited we are committed to developing the Company into a world class exploration and mining company with a dedication to, and respect for, the environment, a strong commitment to safety for all our employees, promoting sustainable development of those communities within which we operate, exercise labour practices that respect the culture and diversity of our employees, and the commitment to act with utmost integrity, honesty and in good faith.

 

Our Business (Mission)

We are an Australian exploration and mining company, listed on stock exchanges in Sydney (ASX) and London (AIM).

 

We are committed to explore, develop and operate mining projects from their earliest stages, with a focus on copper in South America.

 

We are committed to the use of advanced technology, and application of industry best practice, in evaluating and developing projects in order to maximise economic value.

 

Our Commitment (Values)

To maximise returns for our shareholders.

 

To perform in a responsible and efficient manner in the conduct of our work systems and procedures.

 

To actively engage with all of our stakeholders with a focus on sustainable development.

 

To promote industry best practice, occupational health and safety among our workers and business partners, permanently controlling the risks inherent in our operations. We will comply with applicable laws and regulations of the countries in which we operate.

 

To promote the ongoing care and protection of the environment within which we operate throughout the life of a project, from exploration through to the decommissioning phase of an operation.

 

To encourage our suppliers and partners to become part of our commitment to safety, quality, the environment and to develop a strong social conscience within the communities in which we operate.

 

We acknowledge that our people are our greatest asset, and are thus committed to providing a decent and safe work environment, offering opportunity for personal and professional development, and promoting self-protection, austerity, ethics, integrity and honesty.

 

 

 

Los Calatos Project

 

 

Location

 

The Los Calatos Project is located in a well-defined copper-molybdenum porphyry belt in southern Peru, in a dry desert environment, approximately 80 kilometres to the southeast of Arequipa and 60 kilometres northwest of Moquegua.

 

Production from mines in this region exceeded 600,000 tonnes of copper metal in 2010. With the proposed upgrade to the Toquepala, Cuajone and Cerro Verde mines and the development of the Tia Maria and Quellaveco mines, production from this belt is anticipated to increase to more than 1.3 million tonnes of copper metal per annum. Molybdenum constitutes a significant byproduct of copper mining from this belt (Figure 1).

 

The project comprises 26 exploration licences covering an area of 214 square kilometres, and occurs at an altitude of approximately 2,900 metres above mean sea level. It can be accessed via a sealed road (Pan American Highway) from Moquegua and Arequipa, except for the last 50 kilometres which is unsealed. The port of Ilo is located approximately 160 kilometres by road to the southwest of the project area.

 

For more information pleas click here

 

Mollacas Project

 

 

Location

The Mollacas Project, which occurs at an altitude of 1,500 metres above sea level, covers an area of 33 square kilometres and is located in Region IV, Chile, approximately 65 kilometres east of the town of Ovalle, and 160 kilometres by road from the port of La Serena. The project is accessible via the existing road network, and is in close proximity to established infrastructure.

 

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Vallecillo Project

 

 

Location

 

The Vallecillo Project covers an area of 179 square kilometres, and is located approximately 50 kilometres northeast of Ovalle and some 25 kilometres north of the Mollacas Project, at an altitude of 1,800 to 2,500 metres above mean sea level.
 
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La Piedra Project
 
 
 
Figure 1: Locality of the La Piedra Project, Chile.
 
 
Location
 
 
The Company has secured an option to purchase a 100% interest in the La Piedra Project, located in Region V, Chile, some 75 kilometres to the northeast of Santiago, and 25 kilometres to the north of Codelco's Andina mining operation (Figure 1). The project occurs at an altitude of 2,500 to 3,500 metres above mean sea level.
 
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Camaron Project
 
 
 
Location
 
 
The Camaron Project covers an area of approximately 100 square kilometres, and is located some 40 kilometres to the north of the Vallecillo Project and 60 kilometres to the east of the port of La Serena at an altitude of 1,500 metres above mean sea level. Metminco holds 100 square kilometres of tenements.
 
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Additional Projects - Isidro & Loica
 
 
Isidro
 
The Isidro Project, which is located to the north of Vicuna, and hence north of the Camaron Project, covers an area of approximately 250 square kilometres, of which 230 square kilometres are 100% owned by Metminco and 20 square kilometres are held by SCM San Lorenzo (50% owned by Metminco). The project area occurs at an altitude of 2,000 to 3,000 metres above mean sea level.
 
Isidro has been interpreted to be a large copper-gold stacked manto system, and has as yet to be drill tested. Surface geochemical sampling by Metminco has identified extensive, well developed, copper-gold anomalism.
 
Future exploration work will comprise prospect scale mapping and geochemical sampling assisted by satellite imagery to define drill targets and enable drilling by early 2013
 
Loica
 
The Loica Project covers an area of 35 square kilometres and is located approximately 100 kilometres to the southeast of Ovalle, 30 kilometres south of the Mollacas Project, and occurs at an altitude of 2,000 metres above mean sea level.
 
Loica comprises a large copper-molybdenum porphyry system measuring approximately 4 by 1.5 kilometres, with a north-south orientation. Metminco drilled the upper part of the Loica porphyry system in 2007, which returned significant widths of low grade copper-molybdenum mineralisation.
 
Future exploration will largely comprise mapping, geochemical sampling and geophysical surveys of identified breccia zones as a prelude to further possible drilling.
 
 
 

 

Timothy Read - Chairman

Tim was appointed to the Board on 01 April 2010. He has over forty years’ experience in the mining and metals sector, first as a mining analyst, then as an investment banker and, most recently, as a corporate executive and director. Between 1995 and 1999, he was Managing Director and Global Co-Head of Mining and Metals Investment Banking for Merrill Lynch Inc. and, accordingly has extensive experience of all aspects of corporate finance, particularly M&A and equity capital markets. Between 1999 and 2006, he was the chief executive of Adastra Minerals Inc. (acquired by First Quantum Minerals in 2006) and since then has acted as a non-executive director for several natural resource companies including Cumerio SA (acquired by Norddeutsche Affinerie in 2008), Kopane Diamond Developments (until December 2009) and Faroe Petroleum plc. Tim is also the Senior Independent Director of Capital Drilling Limited. In 2011, Tim was short-listed for the award of Non-Executive Director of the Year.

 

William Howe - Managing Director

William was appointed to the Board on 17 July 2009. William, Hampton Mining founder, has over 30 years’ experience in the mining industry and has worked in southern and west Africa, Australia, South East Asia and North and South America. He has been instrumental in the development of a number of new mining operations in Australia and South East Asia including the development and management of the first copper heap leach operation in Australia. He specialises in optimising existing operations in addition to the development of new operations, both in underground and open pit environments, and has extensive experience in mine development, mine management and corporate management. William was a founding director of Straits Resources Limited and was Managing Director of Ghana Gold Mines Limited, Hargraves Resources NL, Selwyn Mines Limited and Hampton Mining Limited.

 

Steve Tainton - Executive Director 

Steve was appointed to the Board on 8 October 2013. He is a geologist by profession with over 30 years’ experience in the exploration and mining sector of Africa, with a particular focus on South Africa and gold. Whilst he has spent most of his career in South Africa, he has been involved with the evaluation of projects in some 27 different countries involving a variety of commodities. Having started his career with Johannesburg Consolidated Investments Limited, he has held various positions in management, from exploration to business development, which culminated in his holding the position of Executive Director of the JSE listed company Western Areas Limited, prior to the sale thereof to Gold Fields Limited. At Gold Fields Steve held the position of Senior Consultant Strategy responsible for Gold Fields’ SA Region, and more specifically their deep level gold mines, South Deep, Kloof, Driefontein and Beatrix. Thereafter, he joined Partners in Performance, a Sydney based consultancy group, which focuses on Business Improvement.

 

Dr Roger Higgins - Non Executive Director 

Roger was appointed to the Board on 8 October 2013. He has over 40 years of mining industry experience, which has included environmental, strategy, project development and operational roles. He commenced working in the industry as an engineering hydrologist working on pit flooding and tailings disposal issues. Subsequent experience included responsibility for projects and operations in arid Australia and the deserts of northern Chile, as well as in eastern and western Canada.

Roger’s earlier career included various hydrology related positions in Papua New Guinea (Australian Government and Bougainville Copper), and 4-years at the University of New South Wales, where he completed a PhD in water resource economics. He subsequently spent 26-years with BHP as Manager Planning and Development BHP Copper, General Mine Manager Escondida, Managing Director Ok Tedi, Vice President Project Development Chile and Vice President and Chief Operating Officer Australia, responsible for the Olympic Dam and Cannington mines. Thereafter he spent 5-years with Teck Resources Limited as Senior Vice President Copper in Vancouver BC where he was responsible for Teck’s copper business unit and its related operations in Canada, Chile and Peru.

 

Dr Phillip Wing - Non-Executive Director 

Phillip was appointed to the Board on 17 July 2009.  Up until July 2011, Phillip was responsible for capital raising and investor relationships in Australia and Asia.

Phillip is also the Executive Chairman of a special purpose private equity firm. He is currently the chairman or non-executive director of six investee companies ranging from mining to medical devices. Until January 2006, Phillip was a partner of Technology Venture Partners (TVP), a specialist Institutional Information Technology and Telecommunications venture capital firm, for 7 years and was an active non-executive director on many of TVP's portfolio companies in Australia and overseas. Prior to joining TVP, Phillip was a senior executive in IBM's global and Asia Pacific management team. He held responsibility for a major industry business unit in Asia and was also General Manager of the IBM (Australia and New Zealand) consulting business. His last role at IBM was as General Manager (Global Services) responsible for strategy, marketing and business development including acquisitions, alliances and business partners. Prior to his career at IBM, Phillip was a partner at Ernst and Young, KPMG Peat Marwick and Touche Ross, specialising in strategy and IT and corporate advisory consulting. Phillip held managing partner roles responsible for the consulting business units and spent two years on secondment as the Chief Information Officer of NSW Health. Phillip has worked extensively in the USA, Asia, and Europe. He has a Bachelor and Masters of Economics and has completed a PhD in Organisational Behaviour.

He is a member of the Institute of Chartered Accountants, and has held recent positions as an adjunct lecturer with the Centre for Applied Finance (Macquarie University) and an advisor to CSIRO to approve all major research projects in Australia.

 

Francisco Vergara- Irarrazaval - Non-Executive Director

Francisco was appointed to the Board on 01 April 2010. He has over 30 years’ experience in the mining industry in Chile and other Latin American countries where he was Vice President of CompaÒ"a Minera El Indio and CompaÒ”a Minera San Jose, subsidiaries of St. Joe Minerals Corporation until 1991. In 1991, he established Vergara & Cia, Law Firm, providing legal services to different mining companies and international engineering firms focused in natural resources, energy, shipping, salmon industry in Chile and agriculture. He has also acted on behalf of foreign governments through their embassies in Chile, and has served as a Director of several listed companies, and Chairman and Director of a number of unlisted companies.

Rank Shareholder (beneficial interest) No. of Shares Holding (%)
1. Junior Investment Company 131,487,500 7.1%
2. Directors/Management 128,989,128 7.0%
3. Bergen Group 82,301,331 4.4%
4. Barrick Gold Corporation 75,000,000 4.0%
5. EM Dos 70,250,855 3.8%
6. Mining Investment Services Pty Ltd 50,065,000 2.7%
7. Investec 45,151,630 2.4%
8. Sentient Group 39,756,231 2.1%
9. High Sea Management Resources 33,484,294 1.8%
10. TD Direct Investing 32,010,054 1.7%
11. Sidlog & Lemai 30,814,160 1.7%
12. Tangarry Pty Ltd 29,666,664 1.6%
13. Hargreaves Lansdown Asset Mgt. 27,422,259 1.5%
14. LinQ/Heritas Capital 21,430,080 1.2%
15. Maxwell Green 21,000,000 1.1%
16. Halifax Share Dealing 20,381,814 1.1%
17. Joan Beck 20,205,860 1.1%
18. Mr Vasilios Votsaris 18,857,068 1.0%
19. Takoradi Limitd 18,500,000 1.0%
20. Illawarra Int Resources 18,350,000 1.0%
Total   915,213,928 47.3%

 

Sydney

Office

Level 6, 122 Walker Street 

North Sydney

NSW 2060, Australia

Ph:  + 61 (0) 2 9460 1856

Fax: +61 (0) 2 9460 1857

 

Contacts

Philip Killen

Company Secretary & CFO

[email protected]

Ph:  +61 (0) 408 609 916

 

Santiago

Office

Minera Hampton Chile Limitada

Avda. Isidora Goyenechea No 3,162

Oficina 201,

Comuna de Las Condes

Santiago, Chile

Ph:  +56 (2) 411 2600

Fax: +56 (2) 411 2610

 

Contacts

William Howe

Managing Director

[email protected]

Share Registry

Australia

Link Market Services Limited

Level 12

680 George Street

Sydney NSW 2000

Australia

T:  +61 (0) 2 8280 7100

F: +61 (0) 2 9287 0303

 

Depositary

United Kingdom

Computershare Investor Services PLC

The Pavilions

Bridgwater Road

Bristol BS99 6ZZ

United Kingdom

T:  + 44 (0) 870 702 0003

F: + 44 (0) 870 703 6101

 

Auditor

Grant Thornton

Level 17

383 Kent Street

Sydney NSW 2000

Australia

T:  +61 (0) 2 8297 2400

F: +61 (0) 2 9299 4445

 

Bankers

Westpac Banking Corporation

 

Solicitors

Australia 

Gadens Lawyers

Level 16

Skygarden Building

77 Castlereagh Street

Sydney, New South Wales 2000

Australia

T:  +61 (0) 2 9931 4999

F: +61 (0) 2 9931 4888

 

United Kingdom

Reed Smith LLP

Broadgate Tower

20 Primrose Street

London EC2A 2RS

United Kingdom

T:  + 44 (0) 20 3116 3000

F: + 44 (0) 20 3116 3999

 

Brokers:

Australia

Canaccord Genuity (Australia) Limited

Level 15

9 Castlereagh Street

Sydney, New South Wales, 2000

Australia

T:  +61 (0) 2 9263 2700

F: +61 (0) 2 9267 0806

 

United Kingdom

Canaccord Genuity Limited

8th Floor

88 Wood Street

London, EC2V 7QR

United Kingdom

T:  + 44 (0) 20 7523 4601

F: + 44 (0) 20 7523 8000

 

Liberum Capital Limited

Ropemaker Place,

Level 12, 25 Ropemaker Street

London EC2Y 9LY

United Kingdom

T:  + 44 (0) 20 3100 2000

F: + 44 (0) 20 3100 2299

 

Public Relations:

Australia 

Collins Street Media

Level 4

401 Collins Street

Melbourne VIC 3000

Australia

T:  +61 (0) 3 9224 5307

 

United Kingdom

Buchanan Communications

107 Cheapside

London, EC2V 6DN

United Kingdom

T:  + 44 (0) 207 466 5000

F: + 44 (0) 207 466 5001

 

Metminco Ltd Timeline

Newswire
March 30 2016

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