Minco PLC: Application to Admit Shares on the Aim Market
August 07, 2013 (Source: Minco PLC) — Minco PLC (AIM – “MIO”) (the “Company” or “Minco”) announces that an application has been made to the London Stock Exchange for 3,500,000 new Ordinary Shares to be admitted on the AIM Market. The Ordinary Shares will be issued to Mountain Lake Minerals Inc. (“Mountain Lake”) pursuant to the Subscription Agreement dated 29 July 2013.
The new Ordinary Shares are expected to be admitted the AIM Market on or about 09 August 2013 and are subject to a hold period ending 30 November 2013.
Minco Plc, registered in the Republic of Ireland and listed on the AIM Alternative Investment Market of the London Stock Exchange (“MIO”), is premier base metals exploration and development company with advanced projects in established mining jurisdictions in eastern Canada. The Company is also engaged in zinc-lead exploration in the United Kingdom and Ireland. Minco holds investments in zinc‐silver projects in Mexico through a holding of 30 million shares (approximately 29%) in Xtierra Inc. listed on the TSX Venture Exchange (TSX.V-“XAG”).
On 16 July 2013, Minco acquired Buchans Minerals Corp. (“Buchans Minerals”) which consolidated Minco’s ownership of Buchans Minerals advanced exploration assets, being the Lundberg Project in central Newfoundland and the Woodstock Manganese Project in New Brunswick. Minco owns 100% of the Lundberg base metal project and the Woodstock manganese project, in addition to Minco’s existing exploration projects in the UK and Ireland.
On 29 July 2013, Minco acquired the Bobbys Pond Property which hosts a zinc-copper-lead deposit located adjacent to Minco’s 100% owned Buchans properties in central Newfoundland. The Bobbys Pond Property is located within 17 kilometres of Minco’s Buchans project and 9 kilometers from Minco’s Daniel’s Pond property.
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Minco also holds a 2% NSR royalty on the Curraghinalt gold property in Northern Ireland, which is being explored by Dalradian Resources Inc. (TSX-“DNA”).
Minco currently holds approximately US$13 million in cash and is also evaluating a number of other investment opportunities in the minerals industry in North America and Europe.
For further information of Minco refer to Minco’s website at www.minco.ie.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>