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Metals X launches review of copper assets

22nd January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Metals X has appointed financial advisers to undertake a strategic review of the company’s copper assets, including the Nifty and Maroochydore copper projects, and the surrounding exploration tenure in Western Australia.

Canaccord Genuity and Hartleys will, in conjunction with the Metals X board, explore various options for the copper assets, including joint ventures and the partial and complete divestment of either some or all of the assets.

Metals X at the end of last year flagged a review of the Nifty operation, as the project continued to perform below expectations, despite a suite of initiatives aimed at increasing production.

The company on Wednesday said that there was still significant value in the Nifty mine’s existing resource and production-ready infrastructure, as well as its leverage to improving copper prices and significant exploration potential.

Edited by Creamer Media Reporter

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