JOHANNESBURG (miningweekly.com) – Diversified miner Metals X is to announce a corporate restructuring, the company revealed this week, when it requested a trading halt from the ASX.
Metals X, which has gold and base metals assets, also plans to announce a capital raising, and said that details would be unveiled on Thursday.
In its presentation delivered at the Diggers and Dealers Forum in Kalgoorlie, in Western Australia, on Tuesday, Metals X pointed out that it was a growing gold miner, but that this was partially ignored in the current pure-play gold upsurge.
The gold division has mineral resources of 15.4-million ounces and ore reserves of 2.9-million ounces.
The base metals assets comprise a tin division, nickel division and other base metals division.
The company believes it has immediate growth options in gold, tin and copper and that it has a world-class nickel/cobalt/iron megaproject.