Metallica completes sale of Boyne limestone project
JOHANNESBURG (miningweekly.com) – ASX-listed bauxite developer Metallica Minerals has completed the sale of its noncore Boyne limestone project, near Gladstone, Queensland, after a private group paid the agreed balance of $900 000.
The private purchaser sought to acquire the two granted mining leases that formed the Boyne project for A$1-million, having paid an initial deposit of $100 000 in November, last year.
CEO Simon Slesarewich noted that receiving the sales funds further reinforced Metallica’s healthy finance position. The company now had a cash balance of about $2.3-million.
“The now completed Boyne transaction follows on from the successful sale of the noncore Star and Ootann limestone projects, both in Queensland, and which delivered $870 000,” he said, adding that Metallica continued to explore options to deliver additional value from other noncore assets.
Slesarewich also noted that Metallica remained focused on delivering sustainable cash flow from the mining of direct shipping bauxite in 2017 at the Urquhart bauxite project, near Weipa, on Queensland’s Cape York.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation