News blog
Papua Mining
- BY: Andrew Hore |
- POSTED: 18/06/2012 |
Papua Mining says that its drilling programme is due to commence in the fourth quarter of 2012.
Papua is using the £7m it raised at 44p a share in March to finance exploration on the copper/gold properties in Papua New Guinea. There are three licences and one of these is being renewed.
The cash will finance 12,000 meters of drilling. The New Britain project will be first and drilling at Ambunti may be delayed until early 2013.
A general election in Papua New Guinea is scheduled for later this month and this has caused political uncertainty.
At 46.5p a share, Papua is valued at £14.8m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf
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