https://newsletter.mw.creamermedia.com
Copper|PROJECT
Copper|PROJECT
copper|project

Megado acquires European copper project

5th November 2024

By: Creamer Media Reporter

     

Font size: - +

Australian company Megado Minerals has announced an agreement to acquire an 80% interest in a copper project in northern Spain.

The Iberian copper project includes 12 permits, including at least 12 historic copper mines, covering an area of 956 km2.

Subject to shareholder approval, Megado intends to complete a share swap with the current shareholders of Iberian Copper (ICPL). As consideration, Megado will pay 175-million shares in the company, 175-million Class A performance rights and 175-million Class B performance rights.

The performance rights will be converted into shares on a one-for-one basis subject to the achievement of project related milestones.

Megado directors Anthony Hall and Aaron Bertolatti are noncontrolling shareholders of ICPL.

Meanwhile, to support the acquisition, Megado announced a nonrenounceable rights issue of one share for every two shares at 1.2c to raise up to A$1.53-million.

Edited by Creamer Media Reporter

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.114 0.19s - 127pq - 2rq
Subscribe Now