AIM-quoted gold production firm Metminco has kicked off diamond exploration drilling on its Tesorito gold prospect in the Quinchia district of Colombia.
A feasibility study into exploration and mining group Metminco's Miraflores gold project in Colombia revealed that the project had the potential to deliver production levels of nearly 45,000 ounces of gold per year.
Metminco announced on Thursday that it has received approval from the Corporacion Autonoma Del Risaralda (CARDER), the environmental agency in the Department of Risaralda, Colombia, to construct up to 2,000 metres of underground development.
Metminco gave its small holding investors an opportunity to sell their shares without incurring brokerage or handling costs on Friday, announcing a share sale facility for those holding fewer than 11,111 shares, which equated to a market value of less than AUD 500.
Metminco announced on Wednesday that it had executed a binding agreement with CD Capital Natural Resources Fund III LP to sell its 49% interest in Los Calatos Holding Limited - owner of the Los Calatos Project in Peru - for approximately $5m cash consideration, net of costs.
Metminco issued a funding update on Monday morning, announcing that the documentation in relation to the convertible note facility of AUD 0.75m with Redfield Asset Management and Redfield Advisory, as announced 3 April, was now complete.
Metminco announced on Tuesday that it received an updated and improved mineral resource estimate for the Miraflores gold deposit in Colombia prepared by Metal Mining Consultants based in Denver, Colorado, in accordance with the guidelines of the JORC Code.
Metminco posted its report for the half year to 30 June on Tuesday, with a loss before tax of $1.13m, narrowing from the $1.93m loss a year ago.
Metminco announced results for scoping level work completed by SRK Consulting on Thursday, on an underground-only mining study at the Miraflores Project in Colombia, which the company has a 100% interest in.
Shares in Metminco fell more than a third on news of an up to $45m equity investment linked to the Los Calatos Copper Molybdenum Project, Peru, by CD Capital Natural Resources Fund III LP.
Australian company Metminco advised the market on Friday that trading in its shares was halted on the Australian Securities Exchange.
AIM-listed exploration and mining company Metminco has begun diamond drilling at the TD2 target copper deposit in Los Calatos, southern Peru.
Shares in Metminco continued to soar on Wednesday, at one point doubling their value over the past two days, although the company said it didn't know why.
African Minerals: Canaccord Genuity lowers target price from 20p to 15p with a hold recommendation.
Metminco's copper project at Mollacas received a boost after the Chilean Constitutional Tribunal dismissed the defences of the land holder.
AIM-listed copper producer Metminco said that it has decided to proceed with a Feasibility Study (FS) and Environmental Impact Study (EIS) at its Mollacas Project in Chile, the required mining permits needed to develop the project.