Metminco (LON:MNC, ASX:MNC) has announced the appointment of William Howe as managing director and of FTSE 100 specialist banking group Investec (LON:INVP) as nominated advisor and broker to the AIM market.
Metminco has also requested and was granted a trading halt on the Australian Securities Exchange pending the issue of a prospectus. It is expected that the ASX trading halt will end no later than 10 December 2010 when the company has lodged the prospectus.
The company said it will maintain its strong association with Daniel Stewart who will continue to act as its joint broker in the AIM market.
Metminco’s new managing director Howe founded Hampton Mining Limited, which is now wholly owned by Metminco.
Metminco has a portfolio of copper and gold projects in Peru and Chile.
The Los Calatos project in Peru has a JORC compliant resource of 926 million tonnes (Mt), consisting of indicated resources of 111 Mt at 0.39% copper and 380 parts per million (ppm) molybdenum and inferred resources of 815 Mt at 0.37% copper and 260 ppm molybdenum.
The Chilean assets include a 50% interest in the Mollacas copper leach project with JORC compliant resources of 17 Mt and a 50% interest in the Vallecillo gold zinc project with JORC compliant resources of 10.1 million tonnes.