News Articles for Hammer Metals

Well known mining focused private equity firm Resource Capital Funds has taken a plunge at ASX junior Hammer Metals with its latest $2b mining fund. RCF has taken a $1.75m placement in Hammer Metals at 7c a share representing the lion's share of the company's latest $2.25m capital raise. The funds will be spent on Hammer's100% owned Mt Isa copper gold project.

Junior explorer Hammer Metals has accessed a little known Federal Government program to give their shareholders a tax windfall worth nearly half a cent per share. Hammer successfully applied for inclusion in the federal Government's “Exploration Development Incentive Scheme” which effectively allows exploration companies to pass on some tax losses to their shareholders.

ASX listed explorer Hammer Metals is in the final planning stages of executing multiple drilling programs across a host of exciting targets within its Mt Isa Copper/Gold/Cobalt project. Importantly it will follow up an impressive historic Copper/Gold/Cobalt hit on its Millennium leases that is the equivalent of a 19m intersection grading 4% Copper.

Hammer Metals have paid just $83 000 in cash and shares to secure an exciting copper/gold/cobalt exploration project near their Mt Isa operations that boasts historic drill results of up to 19m at 1.27% Copper, 0.38% Cobalt and 0.7g/t gold including 6m @3.45% Copper, 0.32% Cobalt and 2.0g/t Gold. It is just 16km west of CuDeco's goliath Rocklands mine.

Hammer Resources and heavyweight partner Newmont are currently processing and modelling geophysical data gleaned from the first round of field programs at Hammer's Mt Isa project. Hammer are also focusing on their own 100% owned tenements including the Scalper prospect that retunred a result of 23 metres at 1.1% Copper and 0.27g/t gold.

Hammer Metals with a market cap of just $5m have done a deal with one of the world's largest miners, Newmont Mining in a $15m farm in deal for their Mt Isa prospects in Queensland. The joint venture is targeting an Ernest Henry style copper-gold deposit which boasts 220 million tonnes at 1.1% Cu and 0.5g/t Au.

Hammer Metals have defined and mapped multiple exciting drill targets at a number of their key prospects within the Mt Isa project area in Queensland.

Perth based Hammer Metals have appointed ex Rio Tinto Senior Mining Engineer Simon Bodensteiner to their board to replace outgoing director Patrick Corr.

Drilling campaign yields 53% resource upgrade and adds nearly 8000 tonnes of copper concentrate

Russell Davis has been appointed as chairman of Midas Resources, replacing Patrick Corr who remains as a non-executive director.

Laverton-focused gold explorer Midas Resources has appointed Derek Fisher as a non-executive director, to replace Terry Streeter who has resigned from the board.

Midas Resources has launched a $2.16 million capital raising plan to fund the expansion and exploration at its Lake Carey and Patersons province gold projects.

Midas Resources is seeking to raise $1.15 million through a share purchase plan and will use the funds to advance its project exploration and evaluation programs.

Subiaco based Midas Resources Ltd aims to raise $3 million through a renounceable rights issue to continue the company's active exploration programs and for working capital.

The mining and property booms have created unprecedented wealth in Western Australia. WA Business News looks at the individuals leading the charge.

Midas Resources Ltd 23-Aug-05 Lodged response to ASX query

3,637,298 ordianry shares are due to be released from escrow from 25 February 2005.

Is to pursue acquisition of part or potentially all of SGW's South Laverton gold assets.

Midas Resources Limited - 27-May-04

Midas Resources Ltd 31-Oct-03

Midas Resources Ltd - 2/10/2003 19,199 (nineteen thousand one hundred and ninety nine) ordinary shares will be released from escrow on 15 October 03.

March 18 Midas Resources Limited Proposed code: MDS Issue price: $0.20

March 18 Midas Resources Limited

March 18 Midas Resources Limited