Southern Hemisphere (ASX: SUH, TSX-V: SH) will discuss a recent US$35 million farm-in deal with US$3B capitalised Lundin Mining Corporation (TSX: LUN) for the flagship Llahuin Copper-Gold Project in Chile at the "Stars in 2012 Series" in Sydney on Wednesday 28th November 2012.
This major deal includes Lundin taking a strategic 11.5% stake in Southern Hemisphere by way of a US$5 million share placement at a 47% premium.
Importantly, the initial joint venture budget provides for an accelerated drilling campaign at Llahuin, where Lundin can earn a direct stake of up to 75% over a six-year period.
A total of US$6 million has been committed to in-ground expenditure at Llahuin within a maximum of three years - US$3 million from the share placement and US$3 million from Lundin Mining.
Prior to the farm-in deal, Southern Hemisphere announced a 36% increase in resources at the Llahuin Project.
The Measured and Indicated inventory is now sitting at 144.9 million tonnes at 0.4% copper equivalent for 435,650 tonnes of copper and 459,180 ounces of gold.
The high confidence Measured category now hosts 88.9 million tonnes at 0.42% copper equivalent, and there is an additional Inferred Resource of 16.7 million tonnes at 0.33% copper equivalent.
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DETAILS: The event will be held on Wednesday 28th November at the Radisson Blu Hotel, corner of Pitt and O'Connell Street, Sydney from 5.30pm.
The event will be followed by a wine and canapé reception where you can interact with the presenting MDs & CEOs.
LUCKY DOOR PRIZE: All attendees instantly go into the draw to win 1 of 3 lucky door prizes (including early prize) drawn on the night: a $100 Apple voucher (early bird prize), a $100 voucher for Radisson Blu Hotel, or a $100 Ticketek voucher.
FULL PRESENTER LIST
Southern Hemisphere Mining (ASX: SUH, TSX-V: SH) is focused on Chile in South America, and wholly owns the Llahuin Copper/Gold Project. Earlier in the month the company raised US$5 million at a 47% premium in a placement to the C$3 billion Lundin Mining Corporation (TSX: LUN).
Titan Energy Services (ASX: TTN) provides a range of energy services including drilling, camp hire and remote camp management, to the coal seam gas industry. Long term contracts have being reached with three of the four major coal seam gas developers for its drilling rigs.
Eastern Iron (ASX: EFE) is targeting iron ore on the infrastructure-rich, eastern seaboard, which is home to the bulk of Australia's industrial capacity, population, workforce and markets.
AusTex Oil (ASX: AOK) produced 500 bpod oil Net Production in the last week of September, with gross sales for the qtr US$1.4m, up 33% on June qtr. The 2012 Vertical Well development program is delivering two new wells per month. AusTex has 2P Reserves of 5.9m BOE and a 2P 10% NPV est. of $288m.
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