The undeveloped Cloncurry project – including the proposed Eva copper mine – could give CMMC a global production footprint. Image: Altona Mining.
COPPER MOUNTAIN MINING
(ASX:C6C)
Canada-based Copper Mountain Mining (TSX: CMMC) is now trading on the ASX following a $93m acquisition of QLD-based Altona Mining and its world-class Eva copper project.
In the transaction Copper Mountain acquired $30m in cash, the development-ready, permitted 73,000tpa Eva project, and a 379,000 hectare mineral land package in the prolific Mt. Isa area of QLD.
JUPITER MINES
(ASX:JMS)
Jupiter is back in the ASX, with its $240m initial public offering (IPO) reportedly the largest in the Australian metals and mining industry over the last decade.
Jupiter’s main asset a 49.9 per cent interest in South Africa’s Tshipi é Ntle, an independently operated and managed manganese mining company operating the lucrative, world-class Tshipi Borwa manganese mine.
In a mid-May announcement the company said it was on track for FY19 production and sales from at a run rate of 3.3 million tonnes per annum.
Jupiter listed at 40 cents per share, on 18 April, settling down over the weeks to 36 cents per share by 24 May.
MAKO GOLD
(ASX:MKG)
Explorer Mako Gold is focussed on highly prospective and under-explored terrains in Cote d’Ivoire, Burkina Faso and other favourable countries in West Africa.
A $2m cornerstone investment was secured from Resolute Mining Limited as part of Mako’s oversubscribed IPO on the ASX to raise $6m.
During April, Mako commenced a maiden drilling program at its Napie gold project as part of the first phase of a planned 11,500m RC and diamond drilling campaign.
Mako listed at 20 cents per share and closed at 18.5 cents on 24 May.
GALILEO MINING
(ASX:GAL)
Exciting cobalt player Galileo Mining has closed its IPO raising the maximum amount of $15m in a heavily oversubscribed listing.
Galileo was founded by WA-based prospector Mark Creasy, who holds a 31 per cent interest in company as its largest shareholder. Other top shareholders include Independence Group and Mineral Resources’ founder Chris Ellison.
Part proceeds from the IPO will be used for the drilling of prospective areas near the Norseman cobalt-nickel project, which boasts a JORC-compliant indicated and inferred resource of more than 22,000t of cobalt and 106,000t of nickel.
