Company
ASX:MXR
Maximus Resources Ltd (ASX:MXR) is an Australian mining company focused on the exploration and development of high-quality gold and base metal projects. The company holds a diversified portfolio of exploration projects in Western Australia, with 320,600 oz Au across granted mining tenements. MXR also entered into a joint venture agreement with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) to develop the Lefroy Lithium Project in Western Australia's Eastern Goldfields, an emerging lithium corridor.
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The company believes there is potential in testing structures adjacent to the mine and increasing knowledge of the structural controls of gold occurrences within the area.
The company has a new management team and is focused on resource expansion and discovery across its gold and nickel assets in Western Australia.
The completion of the strategic placement provides funds to support the company’s systematic exploration programs in Australia’s premier gold and nickel region.
The company expects to begin the 2019/2020 financial year with significant cash at bank and a further two deferred instalment payments due in August and October 2019.
A review of historical data highlighted strongly anomalous vanadium, titanium and iron in surface rock chip samples associated with the Shephards Discordant Zone, a regional scale structure that hosts the Windimurra Vanadium Mine, 20 kms to
The company has a toll treatment agreement with Empire Resources.
The halt will remain in place until Wednesday 5th July 2017.
Maximus shares have doubled in morning trade on volume of 3 million.
Monday 20th March: Maximus Resources tops ASX % Gainers intra-day.
Updated resource of 11,600 ounces of gold grading 3.02 g/t gold.
