Description and Investing Strategy
Description
Metminco is a mineral exploration & development company, incorporated in Australia but operating in Chile and Peru, in South America.
In October 2007 Metminco listed on the ASX as a diversified mineral explorer. In December 2008, it announced a scrip for scrip offer to acquire Hampton Mining Limited (Hampton). Metminco currently owns 100% of Hampton (refer to Metminco website under “Background”).
Through its ownership of Hampton it has an interest in six mineral projects, mainly focused on copper, with significant exposure to gold, molybdenum and zinc. Projects range from mine pre-feasibility, through advanced exploration to grassroots exploration.
Hampton’s premier project is the Los Calatos copper and molybdenum porphyry deposit located in southern Peru, near and in the same geological belt as three large existing copper-molybdenum porphyry mines (refer to Metminco website under "Projects").
Hampton’s other advanced projects are the Mollacas copper leach project, now undertaking final leach testwork leading to a feasibility study, and the Vallecillo gold-zinc project. Both these projects are located in north central Chile, approximately 500 km north of Santiago.
Operating jurisdictions
Metminco has interests in projects primarily located in Chile and Peru.
Both these countries have substantial existing mineral extraction industries, developed over many decades, and both countries are major producers of copper.
Both countries offer favourable jurisdictions for exploring and developing mineral projects.
Metminco’s remaining exploration projects in Australia will be divested or relinquished.
Investing strategy
Metminco will strive to optimally grow value for shareholders by advancing its portfolio of projects, whether by exploration and evaluation through to a decision to develop, or, if warranted, by bringing projects into production.
The Group believes it has the necessary skills and experience to successfully undertake this strategy.
