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LIVIUM LTD — Interim / Quarterly Report 2014
Jul 30, 2014
65239_rns_2014-07-30_6e060b23-3437-4b5b-9a64-b2ae1f95c4d0.pdf
Interim / Quarterly Report
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ASX Announcement
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31 July 2014
COMPANY DETAILS
JUNE 2014 QUARTERLY REPORT
ABN : 29 126 129 413
PRINCIPAL AND REGISTERED OFFICE Cobre Montana NL Suite 3 23 Belgravia Street Belmont WA 6104
POSTAL ADDRESS PO Box 588 Belmont WA 6984
P +61 8 6145 0288
F +61 8 9475 0847
ASX CODE CXB
CORPORATE INFORMATION
(31 July 2014) 84M Ordinary Shares 51M Contributing Partly Paid Shares 14M Unlisted Options
BOARD OF DIRECTORS Eduardo Valenzuela (Non-Executive Chairman) Adrian Griffin (Managing Director) Bryan Dixon (Non-Executive Director)
HIGHLIGHTS
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Successful rights issue
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Assessment of Mantos Grandes completed
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55% of Piedrecillas acquired
Copper, gold and silver exploration in Chile
Cobre Montana NL (“Cobre”) completed the acquisition of 55% interest in the Piedrecillas copper/silver project (ASX announcement 10 October 2013). The project is located about 180km south-west of the Chilean capital, Santiago in the Chilean Coastal Range. The project covers 3,700 hectares, and exhibits geological features similar to that of other manto-style (tabular) deposits found elsewhere in the region. Manto-style mineralisation can host significant copper deposits, as evidenced by the nearby El Soldado deposit (200 Mt @ 1.35% copper) operated by Anglo American. Manto deposits are often higher in grade than their larger porphyry counterparts.
The drilling undertaken at Mantos Grandes, under the terms of a farmin agreement (see ASX announcement 27 September, 2013) although intersecting significant mineralization (see ASX announcement 29 April, 2014) did not meet the Cobre’s requirements to advance to the next stage and the Company subsequently withdrew from the farmin. The Directors, and Cobre’s technical advisors believe that exploration at the majority owned Piedrecillas provides much greater potential value to shareholders than further expenditure at Mantos Grandes.
Cobre is currently planning the initial exploration campaign for Piedrecillas and will continue assessing exploration and production opportunities in South America, in particular Chile.
Rights issue
Cobre completed a successful rights issue pursuant to the prospectus dated 2 May, 2014 to raise up to $732,406. Take-up from existing shareholders exceeded 50% (ASX announcement 19 June, 2014). Further shortfall has been subsequently placed however no shortfall shares can be issued after 1 August 2014.
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Cobre Montana NL – Quarterly Report
June 2014
Tenement Schedule
A schedule of exploration tenure, in which Cobre has an interest, is provided below.
Tenement Schedule
| Country | Tenement | Interest held31 December2013 | Interestacquired/ disposed ofduringquarter | Interest Heldat 31 March2014 |
|---|---|---|---|---|
| South Africa | LP 1481PR | 70% | N/A | 70% |
| South Africa | LP 2176PR | 70% | N/A | 70% |
| South Africa | LP 3069PR | 70% | N/A | 70% |
| Chile | San Diego A | 0% | 55% | 55% |
| Chile | San Diego C | 0% | 55% | 55% |
| Chile | San Diego D | 0% | 55% | 55% |
| Chile | San Diego E | 0% | 55% | 55% |
| Chile | San Diego F | 0% | 55% | 55% |
| Chile | San Diego H | 0% | 55% | 55% |
| Chile | San Diego I | 0% | 55% | 55% |
| Chile | San Diego 1 | 0% | 55% | 55% |
| Chile | San Diego 4 | 0% | 55% | 55% |
| Chile | San Diego 7 | 0% | 55% | 55% |
| Chile | San Diego 8 | 0% | 55% | 55% |
| Chile | Santa Catalina 1 | 0% | 55% | 55% |
| Chile | San Diego K | 0% | 55% | 55% |
| Chile | San Diego L | 0% | 55% | 55% |
| Chile | San Diego M | 0% | 55% | 55% |
| Chile | San Diego N | 0% | 55% | 55% |
| Chile | San Diego 0 | 0% | 55% | 55% |
| Chile | Manifestacione San Diego BB | 0% | 55% | 55% |
Investors wanting more information should contact:
Adrian Griffin Managing Director T: +61 8 6145 0288
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