Mithril Resources Limited

MTH

AU000000MTH3

Diversified Mining

Market Closed - Australian S.E. Other stock markets 01:53:45 2024-07-18 EDT			5-day change	1st Jan Change
0.165 ^AUD	-2.94%		-2.94%	-17.50%

06-26	Mithril Resources Raises AU$3.7 Million to Extend Drilling in Mexico; Shares Jump 19%	MT
06-12	Mithril Resources Encounters Gold, Silver at Copalquin Project; Shares Fall 7%	MT

Mithril Resources : Sun Minerals Acquisition Update 24 January 2020

January 24, 2020 at 12:15 am

ASX RELEASE - 24 January 2020

MITHRIL RESOURCES LIMITED - Sun Minerals Acquisition Update

Mithril Resources Limited [ASX: MTH] (the Company) is pleased to provide an update on its proposed acquisition of private exploration company Sun Minerals Pty Ltd (Sun Minerals) which holds an exclusive option to earn up to a 100% interest in the high-grade Copalquin Gold Silver Project located in the Sierra Madre Trend, Durango State, Western Mexico.

The proposed acquisition of Sun Minerals (the Transaction) is subject to a number of conditions precedent including completion of due diligence, completion of formal documentation, shareholder approvals and the completion of the capital raising described below.

Due Diligence was satisfactorily completed on 20 December 2019 (see Mithril's ASX Announcement dated 20 December 2019) and a General Meeting of shareholders to approve the Transaction will be held at the Queensbridge Room at Nexia Australia, Level 12, 31 Queen Street, Melbourne Victoria 3000 on Wednesday, 12 February 2020 at 11:00am (Melbourne time).

The proposed acquisition has continued to progress with formal documentation now completed with the execution of a Share Sale Agreement for the acquisition by Mithril of all issued share capital of Sun Minerals today.

Mithril also proposes to conduct a capital raising by way of an entitlement issue to shareholders on a record date to be determined to raise approximately A$4.9 million (before costs). Funds raised from the capital raising will be primarily used to complete a drill programme at Copalquin and to continue work on the Company's existing projects.

Mithril looks forward to providing further market updates on the Transaction as future material developments occur.

Released with the authority of the Board.

Regards,

Adrien Wing

Non-Executive Director and Company Secretary

Mithril Resources Limited

Mithril Resources Ltd	ABN 30 099 883 922	ASX Code: MTH	Investor Relations
22B Beulah Road	T: +61 3 9614 0600	Issued Shares: 490,389,211	T: +61 416 068 733
Norwood South Australia 5067	E: admin@mithrilresources.com.au	Market Capitalisation: $4.41million	mflynn@mithrilresources.com.au

Page 1

Attachments

Original document
Permalink

Disclaimer

Mithril Resources Limited published this content on 24 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2020 05:09:07 UTC

Latest news about Mithril Resources Limited

Mithril Resources Raises AU$3.7 Million to Extend Drilling in Mexico; Shares Jump 19%	06-25	MT
Mithril Resources Encounters Gold, Silver at Copalquin Project; Shares Fall 7%	06-11	MT
Mithril Resources Limited Announces Change of Registered Office	06-02	CI
Mithril Resources Limited Announces Board Changes	06-02	CI
Mithril Resources Resumes Drilling at Copalquin Project	05-29	MT
Mithril Resources to Undertake 1-for-100 Securities Consolidation	03-22	MT
Mithril Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2023	03-13	CI
Mithril Resources Raises AU$4.03 Million	03-05	MT
Mithril Resources Limited announced that it has received AUD 1 million in funding	03-04	CI
Mithril Resources Raises AU$700,000 for Working Capital, Exploration Work	01-02	MT
Mithril Resources Raises AU$700,000 via Convertible Bonds	01-01	MT
Mithril Resources Limited Appoints Craig Andrew Sharpe as Director	01-01	CI
Mithril Resources Limited announced that it expects to receive AUD 0.7 million in funding	01-01	CI
Mithril Resources Limited cancelled the acquisition of Newrange Gold Corp. in a reverse merger transaction.	11-20	CI
Mithril Resources Limited Reports Earnings Results for the Full Year Ended June 30, 2023	23-08-21	CI
Mithril Resources Enters Scheme of Arrangement for Acquisition by Newrange Gold	23-05-26	MT
Mithril Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2022	23-03-15	CI
Mithril Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2022	23-03-15	CI
Mithril Resources Limited entered into a non-binding term sheet to acquire Newrange Gold Corp. for CAD 1.8 million in a reverse merger transaction.	23-03-05	CI
Mithril Resources to Raise Capital from Share Placement	22-12-02	MT
Mithril Resources Identifies High-Grade Gold, Silver Resource at Copalquin Project in Mexico	22-10-13	MT
Mithril Resources Limited Announces Exploration Results for Its 100% Optioned Copalquin Gold Silver Project in Mexico	22-10-12	CI
Mithril Resources Limited Reports Earnings Results for the Full Year Ended June 30, 2022	22-09-29	CI
Mithril Resources Limited Auditor Raises 'Going Concern' Doubt	22-09-29	CI
Mithril Resources Hits Gold, Silver at Copalquin Project in Mexico	22-08-18	MT

Chart Mithril Resources Limited

Duration

Period

More charts

Company Profile

Mithril Resources Limited is an Australia-based precious metals exploration company that is focused on discoveries, acquisitions and production of gold and silver in Mexico's Sierra Madre Gold Silver Trend. Its Copalquin project is located in Durango State, Mexico and covers an entire mining district of 70 square kilometers (km2) containing several dozen historic gold and silver mines and workings, ten of which had notable production. The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many world-class gold and silver deposits. Its Australian projects include Kurnalpi project, Lignum Dam project and Limestone Well Project. It owns 100% of Kurnalpi Nickel Project (56 km2), which is located approximately 80 kilometers northeast of Kalgoorlie, Western Australia (WA). The Lignum Dam Project is 100% owned by the Company located 60 kilometers northeast of Kalgoorlie, WA. It owns 10% of the Limestone Well Project.

Sector

Diversified Mining

Calendar

2024-09-25 - Q4 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

More financial data

Sector Integrated Mining

	1st Jan change	Capi.
MITHRIL RESOURCES LIMITED	-17.50%	11.45M
BHP GROUP LIMITED	-15.37%	146B
RIO TINTO PLC	-13.23%	112B
GRUPO MÉXICO, S.A.B. DE C.V.	+12.04%	46.32B
SAUDI ARABIAN MINING COMPANY (MA'ADEN)	-8.14%	44.17B
ANGLO AMERICAN PLC	+16.92%	35.89B
HINDUSTAN ZINC LIMITED	+105.27%	33.45B
TECK RESOURCES LIMITED	+18.32%	25.1B
VEDANTA LIMITED	+75.92%	20.21B
IVANHOE MINES LTD.	+49.42%	18.87B