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  • Metals Of Africa Shares Gain On Strategic Mozambique Assets 0 comments
    Jul 16, 2014 10:05 PM

    Metals of Africa's (ASX:MTA) shares jumped another 32.35% yesterday to close at $0.225, following the identification of three new high priority base metal targets at its Rio Mazoe project in Mozambique.

    The company's shares have also been receiving a major boost in recent weeks from its strategically located Montepuez Graphite Project also in Mozambique.

    Montepuez comprises the wholly-owned 5572L, 6216L and 6172 with the first two on strike from Syrah Resources' (ASX:SYR) Balama Graphite Project and Triton Mineral's (ASX:TON) Balama North Graphite Project.

    Shares in the company have risen 275% since closing at $0.06 on 19 June 2014 prior to its announcement that it had secured the three tenements.

    MTA plans to start graphite exploration this month on its tenements which have been considerably de-risked by the large deposits found by both Syrah and Triton.

    This offers a pipeline of news flow and price catalysts ahead.

    Funding raised

    Earlier in the month MTA raised $950,500 in a placement at $0.125 per share.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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