News and Announcements
Moggie Mining Limited is seeking to raise $2.0 million
- Published October 10, 2013 4:50PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
10/10/2013
“Moggie Mining Limited (“MML”) is seeking to raise $2.0 million to assist with a comprehensive drilling and exploration programme on its mining tenements situated near Greenvale, North Queensland.
There are strong indications available to MML of the presence in those tenements of large porphyry copper/gold deposits of a dimension capable of supporting commercial mining operations.
Successful mineral exploration results from the funds available to an explorer being used in a cost effective manner. A substantial amount of the funds to be raised from investors will be used directly on exploration, and not on overheads and administration. For example, the directors of MML are not paid directors’ fees.
The directors will spend the majority of the funds raised on drilling holes – drill holes are needed to discover and confirm commercial deposits.
MML has already carried out the exploration work needed to site the planned drill holes. This work is part of a very cost effective exploration programme to be carried out on all of its mining tenements.”
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