Eumeralla: ACTIVITIES REPORT JUNE QUARTER 2012
July 31, Eumeralla Resources Limited (ASX:EUM) --
HIGHLIGHTS
• Eumeralla Resources Limited ("the Company") successfully completed its listing on the Australian Securities Exchange on 3 May 2012.
• Since listing, the Company has signed a contract to provide initial mapping, sampling and surveying of the Company's licence site in Northern Mongolia.
• The total cost of this mapping and sampling is estimated at approximately USD 80,000
• During the quarter, field work commenced and exploration drilling is planned to commence in Q3 of 2012.
• The Company continues to identify and evaluate resource projects in the South East Asian region consistent with its stated objectives.
• During the period, the Company commenced legal and geological due diligence of several projects in both Mongolia and Myanmar.
CHULUUN KHOROOT TUNGSTEN PROJECT
The Company has signed a contract to provide initial mapping, sampling and surveying of its licence site in Northern Mongolia, ahead of commencing a drilling program. The License covers an area of 12,657 hectares and incorporates the historical Chuluun Khoroot tungsten mine which was active during the period 1945-195.
Field work commenced during the quarter and exploration drilling is planned to commence in Q3 2012. During July, approximately 300 samples have been collected. The total cost of the mapping and sampling is estimated to be USD 80,000.
MYANMAR PROJECTS
Following legal and geological due diligence work, the Company signed a non-binding Letter of Intent in July 2012 with Myanmar incorporated Southern World Mining Co Ltd. to jointly explore tin and tungsten licences in Southern Myanmar's historical Tenasserim region.
CORPORATE
As at the 30 June the company had a cash balance of AUD $2.856m. The Top 20 shareholders held approximately 68.6% of the company's issued capital.
Link to report
Link to cashflow report
HIGHLIGHTS
• Eumeralla Resources Limited ("the Company") successfully completed its listing on the Australian Securities Exchange on 3 May 2012.
• Since listing, the Company has signed a contract to provide initial mapping, sampling and surveying of the Company's licence site in Northern Mongolia.
• The total cost of this mapping and sampling is estimated at approximately USD 80,000
• During the quarter, field work commenced and exploration drilling is planned to commence in Q3 of 2012.
• The Company continues to identify and evaluate resource projects in the South East Asian region consistent with its stated objectives.
• During the period, the Company commenced legal and geological due diligence of several projects in both Mongolia and Myanmar.
CHULUUN KHOROOT TUNGSTEN PROJECT
The Company has signed a contract to provide initial mapping, sampling and surveying of its licence site in Northern Mongolia, ahead of commencing a drilling program. The License covers an area of 12,657 hectares and incorporates the historical Chuluun Khoroot tungsten mine which was active during the period 1945-195.
Field work commenced during the quarter and exploration drilling is planned to commence in Q3 2012. During July, approximately 300 samples have been collected. The total cost of the mapping and sampling is estimated to be USD 80,000.
MYANMAR PROJECTS
Following legal and geological due diligence work, the Company signed a non-binding Letter of Intent in July 2012 with Myanmar incorporated Southern World Mining Co Ltd. to jointly explore tin and tungsten licences in Southern Myanmar's historical Tenasserim region.
CORPORATE
As at the 30 June the company had a cash balance of AUD $2.856m. The Top 20 shareholders held approximately 68.6% of the company's issued capital.
Link to report
Link to cashflow report
0 Response to "Eumeralla: ACTIVITIES REPORT JUNE QUARTER 2012"
Post a Comment