Montezuma Mining Company receives stake in two listed companies post divestment Wednesday, May 25, 2011 by John Phillips
Montezuma Mining Company (ASX: MZM) recently divested non-core properties in Western Australia, pursuant to vendor agreements, and has now received shares in two ASX listed companies. Montezuma has received a stake in Exterra Resources (ASX: EXC) following the divestment of the Egerton Gold Project, with Exterra to hit the ASX boards in late May post an IPO. The stake is escrowed until May 2013, which includes 2 million shares and 1.5 million $0.20 options expiring in September 2013. Montezuma has also received 1.525 million shares in Lithex Resources (ASX: LTX), which commenced trading on the ASX in mid-May, last trading at $0.20. Of the stake, 1.5 million of the shares are escrowed until May 2012, and the remaining 25,000 are escrowed until December 2011. Lithex has a large strategic tenement holding within the Gascoyne and East Pilbara regions of Western Australia prospective for tin, tantalum, lithium and rare earth element mineralisation. Montezuma remains primarily focused on manganese, copper and gold, with a 100% interest in the Butcherbird Manganese/Copper Project, and an 85-100% interest in the Peak Hill and Durack Gold Projects in the Murchison region of Western Australia. Quelle proactivinvestor
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