https://www.miningweekly.com

Coppermoly welcomes Chinese investor

30th May 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Coppermoly has placed more than 404.1-million shares to Chinese investor Shanghai Fuyuan Investment Company (SFIL), raising A$6-million in the process.

The share placement, which was priced at 1.5c a share, will result in SFIL holding a 19% interest in Coppermoly.

“SFIL’s commitment to this placement at a substantial premium reflects the excellent progress that Coppermoly has made over recent months in the development of its highly prospective portfolio of Papua New Guinea copper/gold exploration projects,” said Coppermoly MD Wanfu Huang.

“The most recent drilling campaign at Mt Nakru delivered excellent results, resulting in the declaration of a maiden indicated Joint Ore Reserves Committee-compliant resource. The Mt Nakru deposits are open in multiple directions and the funds raised under the placement will enable us to undertake further drilling to expand the size and quality of the Mt Nakru deposits and to undertake scoping, potentially feasibility, studies.”

Funds will also be used for working capital, Huang said.

Edited by Creamer Media Reporter

Comments

The content 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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION