Meekatharra unit seeks Canada listing<\/p>\n
SYDNEY (Reuter): Australia's Meekatharra Minerals NL said
\nyesterday it plans to raise C$33 million by listing the majority
\nof its Indonesia gold holdings on a Canadian stock exchange.<\/p>\n
Meekatharra will offer about 40 percent of MM Gold Corp, a
\nnewly-formed Canadian subsidiary owning the Indonesian assets, to
\ninstitutional investors through a private placement, the company
\nsaid.<\/p>\n
The company said the equity raising will help fund its US$15
\nmillion Way Linggo gold and silver project in Sumatra and finance
\nexploration programs in Indonesia.<\/p>\n
The deal, which is subject to regulatory approvals and
\napproval by Meekatharra shareholders, would also see MM Gold
\nrepay loans totaling about A$5.8 million to Meekatharra, the
\ncompany said.<\/p>\n
Way Linggo is forecast by Meekatharra to produce up to 25,000
\nounces of gold and 500,000 ounces of silver annually.<\/p>\n
Production is scheduled to start early next year, it said.<\/p>\n
MM Gold's other interests include the Muarawahua project in
\nnortheast Kalimantan, Indonesia, which lies directly along the
\nstrike of the linear trend defining the Trans Borneo gold belt,
\nMeekatharra said.<\/p>\n
MM Gold has a strategic alliance with Canadian mining group
\nTeck Corp to identify and jointly apply for Contracts of Work in
\nIndonesia, Meekatharra said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/meekatharra-unit-seeks-canada-listing-1447893297",
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"sponsor": "Okusi Associates",
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