25 Mar 2015 07:00
ASX ANNOUNCEMENT | 24 March 2015 |
RESULTS OF EXTRAORDINARY GENERAL MEETING
Pursuant to Listing Rule 3.13.2 and Section 251AA of the Corporations Law, Metminco Limited (Metminco or the Company) advises that the resolutions put to shareholders at the Extraordinary General Meeting of the Company held on 24 March 2015 were carried.
Following is information on the number of votes cast on the poll in respect of each resolution:
Resolution 1: "That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the allotment and issue of 105,973,000 new Shares at an average subscription price of A$0.0132 per new Share and issue of 5,000,000 Bergen Options to Bergen Global Opportunity Fund on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received · 224,902,227 votes for the Resolution · 4,265,700 votes have appointed the Chairman as Proxy · 8,245,628 votes against the Resolution · 230,467 votes abstaining
Resolution 2: "That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the allotment and issue of 75,335,833 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 75,335,833 Firm Options to selected sophisticated and professional investors on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 225,871,946 votes for the Resolution · 3,473,161 votes have appointed the Chairman as Proxy · 8,091,248 votes against the Resolution · 207,667 votes abstaining
Resolution 3: "That, for the purposes of Listing Rule 7.1 and for all other purposes, Shareholders approve and ratify the allotment and issue of 49,480,318 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 49,480,318 Conditional Options to selected sophisticated and professional investors on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 225,354,620 votes for the Resolution · 4,470,680 votes have appointed the Chairman as Proxy · 7,561,055 votes against the Resolution · 257,667 votes abstaining
Resolution 4: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 33,333,333 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 33,333,333 Related Party Options to William Howe on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 173,765,548 votes for the Resolution · 4,114,443 votes have appointed the Chairman as Proxy · 9,381,964 votes against the Resolution · 50,382,067 votes abstaining
Resolution 5: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 10,000,000 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 10,000,000 Related Party Options to Timothy Read on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 224,791,998 votes for the Resolution · 3,817,678 votes have appointed the Chairman as Proxy · 8,830,979 votes against the Resolution · 203,467 votes abstaining
Resolution 6: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 3,750,000 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 3,750,000 Related Party Options to Francisco Vergara on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 173,778,343 votes for the Resolution · 4,775,914 votes have appointed the Chairman as Proxy · 8,738,818 votes against the Resolution · 50,350,947 votes abstaining
Resolution 7: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 3,750,000 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 3,750,000 Related Party Options to Phillip Wing on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 222,993,251 votes for the Resolution · 4,534,054 votes have appointed the Chairman as Proxy · 9,906,650 votes against the Resolution · 210,067 votes abstaining
Resolution 8: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 1,875,000 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 1,875,000 Related Party Options to Roger Higgins on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 224,491,961 votes for the Resolution · 4,036,904 votes have appointed the Chairman as Proxy · 8,905,090 votes against the Resolution · 210,067 votes abstaining
Resolution 9:: "That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders approve and authorise the allotment and issue of 1,666,667 new Shares at a subscription price of A$0.006 (£0.003) per new Share and issue of 1,666,667 Related Party Options to Stephen Tainton on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting." Valid Proxies Received: · 222,875,701 votes for the Resolution · 4,078,710 votes have appointed the Chairman as Proxy · 10,479,544 votes against the Resolution · 210,067 votes abstaining
Philip W Killen Company Secretary
| |
Company Background
Metminco is a dual ASX and AIM listed company with a portfolio of copper, molybdenum and gold projects in Peru and Chile.
Projects and Mineral Resources
The Los Calatos Project, located in southern Peru, has an open pittable Mineral Resource of 493 million tonnes at 0.38% Cu and 0.023% Mo (at cut-off grade of 0.15% CuEq) to a vertical depth of 700 metres below surface and an underground bulk mining Mineral Resource of 926 million tonnes at 0.51% Cu and 0.022% Mo (at a cut-off grade of 0.35% CuEq) commencing at an elevation of 2,300 metres (approximately 700 metres below surface).
The Chilean assets include the Mollacas Copper Project with a Mineral Resource of 15.5 million tonnes consisting of a Measured Resource of 11.2 million tonnes at 0.55% Cu and 0.12g/t Au and an Indicated Resource of 4.3 million tonnes at 0.41% Cu and 0.14g/t Au(at a 0.2% copper cut-off); and the Vallecillo Project with a Mineral Resource of 8.9 million tonnes consisting of a Measured Resource of 5.5 million tonnes at 0.84g/t Au, 9.99g/t Ag, 1.12% Zn and 0.32% Pb, an Indicated Resource of 2.6 million tonnes at 0.80g/t Au, 10.23g/t Ag, 0.94% Zn and 0.35% Pb and an Inferred Resource of 0.8 million tonnes at 0.50g/t Au, 8.62g/t Ag, 0.48% Zn and 0.17% Pb (at a cut-off grade of 0.2g/t Au).
The Company also has a number of early stage exploration projects where initial exploration activities have identified anomalous copper, molybdenum and gold values.
Competent Persons Statement
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Colin Sinclair, BSc, MSc, who is a Member of the Australasian Institute of Mining and Metallurgy and is employed by the Company in Chile.
Colin Sinclair has sufficient experience (over 30 years) which is relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results'. Mr Sinclair, as Competent Person for this announcement, has consented to the inclusion of the information in the form and context in which it appears herein.
Forward Looking Statement
All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Metminco are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as ''anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "opportunity", "plan", "potential", "project", "seek", "will" and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Metminco that could cause Metminco's actual results to differ materially from the results expressed or anticipated in these statements.
The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Metminco does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing requirements.
For further information contact:
METMINCO LIMITED |
|
|
Stephen Tainton / Phil Killen |
| Office: +61 (0) 2 9460 1856 |
|
|
|
NOMINATED ADVISOR AND BROKER |
|
|
RFC Ambrian |
|
|
Australia |
|
|
Will Souter/ Nathan Forsyth |
| Office: +61 (0) 2 9250 0000 |
|
|
|
United Kingdom |
|
|
Samantha Harrison / John van Eeghen |
| Office: +44 (0) 20 3440 6800 |
|
|
|
PUBLIC RELATIONS |
|
|
Buchanan (UK) |
|
|
Gordon Poole/Bobby Morse |
| Office: +44 (0) 207 466 5000 |