Metminco lists on AIM, to raise £12m

Metminco has (ASX: MNC) has commenced trading on the AIM in the UK, with agreements in place to raise £12 (A$20) million.
It will place 103,795,569 shares at a price of 9p (A$0.15) per fully paid ordinary share and through the issue of US$4 ($A4.5) million Convertible Loans.
Metminco has a 37.8% holding in Hampton Mining Limited (Hampton), which will increase to between 55% and 69% on completion of the option with Junior Investment Company (JIC Option) no later than early May 2010.
Hampton’s projects range from mine pre-feasibility, through advanced exploration to grassroots exploration are are mainly focused on copper, but with significant exposure to gold, molybdenum and zinc. These  are located in north central Chile and southern Peru.
Hampton’s premier project is the Los Calatos copper and molybdenum porphyry deposit located in southern Peru, near and in a similar geological setting to three large existing copper-molybdenum porphyry mines. Hence the project is close to established service infrastructure in an existing important mining region.
At Los Calatos, Hampton has estimated an initial JORC compliant resource of 262 million tonnes at a 0.2% copper cut-off grade, made up of Indicated Mineral Resources of 69.2 million tonnes at 0.44% Cu and 510ppm Mo and Inferred Mineral Resources of 192.4 million tonnes at 0.42% Cu and 382ppm Mo. Hampton is currently undertaking an eleven hole (10,000 metres) drilling program at Los Calatos.
Hampton’s other advanced projects are the Mollacas copper leach project, now undertaking final leach test work leading to a feasibility study (being the precursor to the commencement of mining) and the Vallecillo gold-zinc project, both located in north central Chile.

http://www.proactiveinvestors.com.au/companies/news/6201/metminco-lists-on-aim-to-raise-12m-6201.html