Bought a few more of these today. Cheapies. Liked the opening of the qrtly report just recently issued.
2nd QUARTER ACTIVITIES REPORT
FOR THE QUARTER ENDED 31 December 2009
*****Project Update*****
Monto Minerals Limited (Monto) are currently completing an initial technical review of the Middle and Hummock Hill Island Projects located near Gladstone, Queensland. Monto are presently awaiting receipt of a large number of technical reports including geological reports, resource estimation information, metallurgical samples and testwork reports, scoping studies and financial modelling data from the previous project owners. Once received, this information will be thoroughly reviewed and assessed with a view to generating an appropriate way forward for the project.
******Acquisition Update******
Monto are also engaged in the ongoing review and assessment of a number of resource projects across a broad range of commodities and geographic locations. Monto is seeking a suitably attractive resource project through asset investment and development. At this stage, no decision to acquire, farm-in or joint venture into any project has been made and the process of project review is continuing as opportunities arise.
*****Capital Management*****
The recapitalisation of Monto was finalised during the quarter and at the end of the quarter, Monto had cash assets of $1.825m. The Appendix 5B is attached.
MOO Price at posting:
1.1¢ Sentiment: LT Buy Disclosure: Held
