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Fraser Range Metals Group Wraps Up Share Consolidation

Fraser Range Metals Group (ASX: FRN), formerly AAQ Holdings, has completed the consolidation of its share capital.

The company undertook the consolidation on the basis that every 33 shares would be consolidated into one share.

Following the consolidation Fraser Range Metals now has around 14.5 million shares on issue.

The company is currently suspended from trading until it has completed the re-compliance of Chapters 1 and 2 of the ASX listing rules.

Fraser Range Metals previously began its transition into a multi commodity exploration company with the acquisition of two substantial tenement packages in the Western Albany Fraser Orogen.

The company has acquired the Plumridge Project, located along the Tropicana Gold Belt, and the Fraser Range Project.

The acquisitions endow Fraser Range Metals with advanced drill ready exploration as well as tenements along the general trend of the Albany Fraser Orogen from Sirius Resources (ASX: SIR).

The Albany Fraser Orogen is highly prospective for the discovery of gold mineralisation, as demonstrated byAngloGold Ashanti (ASX: AGG) and Independence Group's (ASX: IGO) 7.9 million ounce Tropicana Gold Project.

There is also significant potential for nickel-cobalt-copper mineralisation in settings analogous to Sirius' Nova discovery.

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