Metallum refocuses on own projects as Squirrel deal is terminated
JOHANNESBURG (miningweekly.com) – Perth-based exploration company Metallum will focus on advancing its own projects, including the Teutonic project in the Eastern Goldfields region of Western Australia, the junior said on Monday, after terminating the proposed acquisition of technology firm Squirrel.
Metallum had planned to buy software and services company Squirrel, adopt its business model and change its name to Squirrel Limited. However, the junior has dropped the acquisition, as conditions precedent to the transaction have not been met.
“The board believes that, given current market conditions, it is in the best interest of the company and its shareholders to refocus on the company’s Teutonic project and the Comval copper/gold project,” Metallum said in a statement.
The company has recently added to its ground-holding at its Teutonic project, having made application for additional ground to the south of its existing tenement. The next programme will be designed to follow up on the drill intercepts at the Mustang electro magnetic conductor at Teutonic, which were drilled in late 2015.
Metallum has about A$1.2-million in working capital, which the company said would enable it to continue its proposed activities at the Teutonic and Comval projects.
The Comval project is currently on care and maintenance.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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















