Archives for Companies - Page 8
ZYL has proposed a series of transactions that will lead to the settlement of all legal issues and the raising of sufficient capital to fund ongoing development. This will result in a trebling of issued capital and a total capital raising of $13 million (AUD) over the next year or so. While…
Today Coppermoly held a General Meeting at the Gold Coast Turf Club to consider several resolutions to replace the existing four man board with four nominees. The incumbent board was returned, but by a very close margin. The average vote of the four resolutions to remove the current board was…
After being suspended since 7 March 2013, ZYL announced yesterday that all legal disputes and financial issues had been settled (read the announcement here). This will now allow the company to accelerate development of its anthracite assets in South Africa. The outstanding feature of the settlement is that, for the…
The Simuku project is a joint venture between Coppermoly and Barrick, read more background here. The project is well-located, being 32 kilometres southwest of Kimbe, the capital of West New Britain province in Papua New Guinea (“PNG”). Kimbe is a town of about 20,000 people and is the main export port…
Coppermoly holds some very interesting copper-gold-molybdenum resources in PNG, with huge upside potential. However, the company has languished at a market capitalisation of around $6 million for the past year. This does not remotely reflect asset value; but to be fair, many other junior resource companies are in the same…
This article is the second in a series on the Ilo Norte project. Read the first article here, and an overview of Latin Resources here. The geology of Ilo Norte comprises a sequence of volcanic and sedimentary rocks, up to 600 metres thick, that dips moderately to the north-northeasteast. The…