Quarterly Activities Report
Adelaide, April 26, 2013 AEST (ABN Newswire) - Minotaur Exploration Limited (
ASX:MEP) Quarterly Activities Report. Corporate Overview: At 31 March 2013 the Company's market value was $16.1 million. Cash and term deposits totalled $9.3 million. Investments in ASX listed companies were valued at market at $3.7 million.
Project related expenditure outflow during the quarter was $0.8 million (net after joint venture recoveries), relating primarily to geophysical surveys, metallurgical tests, drill investigations, assays, processing trials and contract and salaried employee costs. Expenditure for the June 2013 quarter is forecast to be $1.5 million.
Negotiations centring on a purchase opportunity related to gold and copper-gold projects were concluded with the seller accepting a superior offer. Discussions around other gold and copper-gold assets were initiated.
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEP-732267.pdf
About Minotaur Exploration Ltd
Minotaur Exploration Ltd (ASX:MEP) is a public company listed on the Australian Securities Exchange (ASX) under the market code MEP. MEP commenced trading on ASX on 25 February 2005. Minotaur has extensive minerals exploration tenements in South Australia, New South Wales, Victoria, Queensland and Western Australia.
The Company is governed by a Board of Directors according to Australian Corporate law and the Listing Rules of the ASX. Minotaur specialises in application of innovative geophysical techniques to locate virgin mineralisation deep below the surface. Often, economic mineral deposits are contained within basement rocks, buried below several hundred metres of transported cover (overburden) and cannot be located through conventional surface exploration methods such as soil sampling, geochemical assays and drilling. Minotaur's remote sensing and interpretative approach has proven very successful, time and time again.
The directors and management of Minotaur each have over 30 years of exploration, mining and mineral resource experience and are eminently qualified in their respective fields of expertise. Under their direction, Minotaur has earned a strong reputation for technical excellence and a high profile within the Australian resources sector. Minotaur's share register comprises 3500 shareholders.
Minotaur is actively exploring IOCG style targets in Australia, where geophysics have identified numerous sub-surface anomalies prospective for copper-gold mineralisation and other targets prospective for base metals such as zinc, lead, copper.
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