Rare earths & specialist minerals
Montero Mining adds Chilean upside to existing lithium portfolio
Montero Mining already has an attractive lithium portfolio in Namibia
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Rare earths & specialist minerals
Montero Mining already has an attractive lithium portfolio in Namibia
Under the agreement with a private geological consortium, the company has 15 months to make application for the prospective target areas
The company has inked a non-binding memorandum of understanding with the Jiang Xi Yun Lithium Materials Co Ltd. of China
Most recently, Levy was the president and chief executive officer of Pine Point Mining
Proceeds from the placement will go towards mineral exploration and working capital purposes
Montero is issuing up to 4mln shares at a price of C$0.28 each, it had said previously
The group has struck a binding Heads of Agreement (HOA) with owners Namib Base Minerals CC (NBM ) and Namibia Silica CC
The project lies 40 km north of a major lithium producer, the company said
Montero is selling up to 4mln shares at US$0.28 each, and for every two bought, investors will be given one share purchase warrant which can be exercised for US$0.40
Montero has completed its preliminary assay program and established significant concentrations of lithium mineralization, said the CEO