Source - SMW
Metminco Ltd said a total of 422.2m new shares have been placed at a price of A$0.00237 to raise about A$1.0 million.

Funds raised from the Placing will be applied towards the completion of a Feasibility Study at the Company's 100% owned Miraflores Project and for working capital.  

As announced 8 September 2016, the Miraflores Scoping Study completed by SRK Consulting (USA) Inc. on an underground only mining operation producing approximately 50,000ozs of recovered gold per annum at life of mine cash cost (C1) of US$ 555 per oz for over 9 years, is considered to be financially robust and hence represents a viable development option.

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Metminco (MNC)

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