D'Aguilar Gold Limited (ASX:DGR) Announce Further Expansion of Burkina Faso Gold Interests Of Mt Isa Metals Limited (ASX:MET)
This initiative follows MET's recent successful capital raising of A$14m at a price of A$0.70 to further underwrite its exploration programs on its own Burkina Faso gold projects.
- MET proposes raising A$1.8m in seed capital to create a new Burkina Faso focussed gold exploration Company Harmattan Gold Pty Ltd (HMG).
- MET believes that Burkina Faso remains under-explored and offers numerous opportunities to secure highly-prospective gold exploration projects.
- HMG business development is in progress, and is targeting greenstone-hosted gold deposits in a substantial new exploration permit portfolio.
- Proposed HMG permits will be in addition to MET's current Burkina Faso exploration properties.
- HMG will target an IPO and stock exchange listing by mid-2011.
- MET is aiming to secure significant value via its retained equity interest in HMG (projected to be approximately 46% post-IPO).
D'Aguilar Gold Limited holds 52 million shares in MET. Following MET's recent capital raising, this represents approximately 33% of MET's issued capital.
The announcement can be viewed in full on the ASX website under the Mt Isa Metals code of MET, or in the "Latest News" section of the Mt Isa Metals website: http://mtisametals.com.au
About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
Mt Isa Metals Limited
DGR Global Limited