Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has made a third investment in Libero Copper & Gold Corporation (TSX-V:LBC, OTCQB:LBCMF), acquiring 2.6mln shares at C$0.15 per share for a total consideration of C$390,000.
The investment maintains the company's share holding at 19.8% of Libero, and forms part of a recently launched private placement.
Gross proceeds of approximately C$2mln from this placement will be used for exploration at the Mocoa and Esperanza copper porphyry projects in Colombia and Argentina respectively.
Libero is listed on the TSX Venture Exchange and owns, or has the right to acquire, several copper exploration properties in North and South America including Mocoa, one of the world's largest undeveloped copper-molybdenum resources.
Anglo Asian now holds 18.1mln shares in Libero, as well as 8.9mln warrants.
Libero provides Anglo Asian with exposure to significant copper resources, in addition to the company's fully-owned projects in Azerbaijan, which produced just over 64,600 ounces of gold equivalent last year.
"We are pleased to make a third investment in Libero in little over a year,” said Anglo Asian chief executive Reza Vaziri.
“With an exciting range of significant copper assets across the Americas, and an experienced management team, we have the upmost confidence in Libero to develop these assets in a swift and responsible manner. I look forward to updating our shareholders on Libero's progress in the coming months."
Mocoa is a porphyry copper-molybdenum deposit located in Putumayo, Colombia in the Jurrasic porphyry belt which extends through Ecuador and Colombia including the Mirador mine and Waritza deposit. It already boasts a pit-constrained NI 43-101 compliant resource of 636mln tonnes of 0.45% copper equivalent containing 4.6bn pounds of copper and 511mln pounds of molybdenum.