I see the rat has written mne up.
MNE - Metallum Limited today closed up 22% to finish at 4c on $100k stock traded. There is no news in the market today but a good broking mate of mine who we will call Malcolm Fraser to keep him anonymous is very close with the story and has encouraged me to become a shareholder of which I am and one of my more annoying clients was buying some in the market today.
The stock price has been gradually creeping up over last few weeks and it looks to be pretty tightly held, what I think has got the market excited is the companies recent acquisition of a copper/silver project in Botswanna which is within a pretty close proximity to MOD's project which is also over Botswana.
MOD mkt cap is $110m and MNE's is less than $5m with cash.
I know the chairman of MNE quite well who we will call Mike Willesse to keep him anonymous and I have got my fingers crossed MNE can do half as well as MOD have and I would be one happy little chappy if you get my drift.
Malcolm Fraser may never work again also !!!
Some details on the new project are listed below:
Metallum and Kopore have entered into a loan agreement pursuant to which Metallum will loan Kopore $148,300 (“Loan”) to provide initial funding for Kopore to conduct an airborne magnetic and electromagnetic (EM) survey program on the Kopore Copper/Silver Project during the period leading up to Metallum's annual general meeting, and prior to the commencement of the wet season in Botswana. The Loan will be interest free, subject to completion of the Kopore Acquisition occurring by
3 November 2017. A summary of the Loan terms is set out in the Notice.
Airborne magnetic and EM survey program
Kopore will use the Loan funds to initiate a 5,032-line kilometre airborne magnetic and EM survey over an approximate area of 1,091.7km² on the Kopore Copper/Silver Project with the aim of delineating domal structures, which have been recently interpreted.
NRG Geophysics of South Africa, who has conducted recent airborne geophysical surveys across the Kalahari Copperbelt, will be engaged by Kopore to undertake the airborne magnetic and EM survey.
Subject to potential permitting and weather delays, NRG Geophysics are planning to mobilise in November 2017, with results expected in early February 2018.
