31 May 2011 07:00
Metminco Limited (LSE: MNC)
("the Company")
Metminco Shareholders
31 May 11
RESULTS OF ANNUAL GENERAL MEETING - 30 MAY 2011
Pursuant to Listing Rule 3.13.2 and Section 251AA of the Corporations Law, details in relation to resolutions put to the Company's Annual General Meeting held today follow:
Resolution 1:
"That the Remuneration Report for the year ended 31 December 2011 be adopted."
Valid proxies received in respect of resolution 1.
VOTES | NUMBER |
For | 487,241,760 |
Against | 5,817,426 |
Abstain | 1,503,883 |
Resolution 1 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
Resolution 2:
"That, for the purpose of clause 15.6 of the Constitution and for all other purposes, Antonio Vicuna Ortuzar, a Director appointed 16 March 2011 retires, and being eligible, is re-elected as a Director."
Valid proxies received in respect of resolution 2.
VOTES | NUMBER |
For | 493,757,256 |
Against | 185,285 |
Abstain | 620,528 |
Resolution 2 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
Resolution 3:
"That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the prior allotment and issue of 75,000,000 Shares in the Company on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Annual General Meeting."
Valid proxies received in respect of resolution 3.
VOTES | NUMBER |
For | 489,312,478 |
Against | 4,823,733 |
Abstain | 426,858 |
Resolution 3 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
Resolution 4:
"That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the prior allotment and issue of 70,250,855 Shares in the Company on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Annual General Meeting."
Valid proxies received in respect of resolution 4.
VOTES | NUMBER |
For | 418,998,041 |
Against | 4,849,873 |
Abstain | 70,715,155 |
Resolution 4 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
Resolution 5:
"That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the prior allotment and issue of a total of 20,000,000 Shares in the Company on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Annual General Meeting."
Valid proxies received in respect of resolution 5.
VOTES | NUMBER |
For | 486,601,095 |
Against | 4,916,228 |
Abstain | 3,045,746 |
Resolution 5 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
Resolution 6:
"That, for the purposes of Listing Rule 7.1 and for all other purposes, the issue of 60,000,000 new fully paid ordinary Shares at a subscription price of A$0.38 per Share to selected sophisticated and institutional investors on the basis set out in the Explanatory Memorandum is approved."
Valid proxies received in respect of resolution 6.
VOTES | NUMBER |
For | 486,314,423 |
Against | 5,156,238 |
Abstain | 3,092,408 |
Resolution 6 was passed by a majority of eligible votes cast in favour of the resolution carried on valid proxies received.
For further information contact:
South America:
William Howe - Managing Director Ph: +56 (2) 411 2600
Australia:
William Etheridge - Executive Director Ph: + 61(0) 419 400 919
Phillip Wing - Executive Director Ph: + 61(0) 412 254 704
Philip Killen - Company Secretary & CFO Ph: + 61(0) 408 609 916
United Kingdom:
Tim Read - Director Ph: +44 (0) 777072 1809
Nomad and Broker - Investec Bank plc
Stephen Cooper Ph: +44 (0)20 7597 5000
Patrick Robb
Tim Thompson (Buchanan Communications) Ph: +44 (0) 20 7466 5000
About Metminco:
Metminco is a dual ASX and AIM listed company with a portfolio of copper and gold projects in Peru and Chile. The Los Calatos project located in southern Peru has JORC compliant resources of 926 million tonnes, consisting of Indicated Resources of 111 million tonnes at 0.39% Cu and 380ppm Mo and Inferred Resources of 815 million tonnes at 0.37% Cu and 260ppm Mo (at a 0.2% copper cut-off grade).
The Chilean assets include a 100% interest in the Mollacas copper leach project with JORC compliant resources of 17 million tonnes consisting of Indicated Resources of 7.2 million tonnes at 0.56% copper and Inferred Resources of 9.8 million tonnes @ 0.52% copper (at a 0.2% copper cut-off grade); and a 50% interest in the Vallecillo gold zinc project with JORC compliant resources of 10.1 million tonnes consisting of Indicated Resources of 7.9 million tonnes @ 1.14g/tAu; 11.4g/tAg; 1.32% Zn; 0.29% Pb and Inferred Resources of 2.2 million tonnes @ 0.78g/t Au; 8.2g/t Ag; 0.58% Zn; 0.26% Pb (at a cut-off grade of 0.3g/t Au).
* Cut off grade of 0.2% Cu. Copper equivalence (CuEq), in-situ, assumes a ratio of Mo/Cu prices of 5.