AI assistant
ELEMENT 25 LIMITED — Capital/Financing Update 2016
Oct 16, 2016
64810_rns_2016-10-16_d1e261d0-897e-4b4b-81d9-8222117aea0e.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [171 x 102] intentionally omitted <==
ABOUT MONTEZUMA MINING
Listed in 2006, Montezuma Mining Company Ltd (ASX: MZM) is a diversified explorer primarily focused on gold and manganese. The Company’s primary objective is to achieve returns for shareholders through selected strategic acquisitions and targeted exploration.
17 OCTOBER 2016
LAKE LEFROY TENEMENT SALE COMPLETED
Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to announce that the sale of granted exploration licence E15/1447 to Lefroy Exploration Limited (“LEX”) (ASX:LEX) has been completed.
Montezuma has 100% interests in the Yamarna Gold Project in the Yamarna Greenstone Belt, the Holleton Gold Project in the Wheat Belt region and the Butcherbird Manganese/Copper Project in the Murchison region, all located in Western Australia.
MARKET DATA
In consideration for the sale, Montezuma has been issued 4.2M fully paid ordinary shares in LEX at a deemed value of $0.20 per share. LEX has received conditional listing approval from the Australian Securities Exchange and its shares are expected to be re-listed in the near future.
LEX has recently completed a capital raising at $0.20 per share to fund the exploration of a large package of ground in the Eastern Goldfields, with which E44/1447 is contiguous.
Montezuma looks forward to developments as LEX explores an exciting and underexplored package of ground only 50km from Kalgoorlie, Australia’s preeminent gold mining district.
FOR MORE INFORMATION…
Justin Brown
Executive Director
Phone: +61 8 6315 1400
Email: [email protected] Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company’s projects can be viewed at http://www.montezuma.com.au.
Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005
ASX code: MZM Share price: $0.15 Shares on issue: 83,464,350 Market capitalisation: $12.5M Cash: ~$5.2M Listed Investments: ~$5.3M
BOARD AND MANAGEMENT
Chairman Seamus Cornelius Executive Director Justin Brown Non-Executive Director John Ribbons Exploration Manager Brad Drabsch
==> picture [197 x 308] intentionally omitted <==
Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company’s 1 projects can be viewed at www.montezuma.com.au