PERTH (miningweekly.com) – ASX-listed Myanmar Metals has received Australian Foreign Investment Review Board approval for its A$14.9-million share sale to base metals producer Perilya.
Some 249.4-million Myanmar shares will now be issued to Perilya, giving the company a 19.99% shareholding in Myanmar.
The Perilya placement is part of a larger A$35-million capital raise, which will fund Myanmar’s exercise of its option over the Bawdwin lead/zinc/silver mine in Myanmar.
The Bawdwin concession contains a tier-one polymetallic deposit with a maiden Joint Ore Reserves Committee-compliant resource of 82-million tonnes, at 4.7% lead, 119 g/t silver and 2.4% zinc.