Key Developments: Midas Resources Ltd (MDS.AX)
0.00AUD
20 May 2013
$0.00 (+100.00%)
$0.00
$0.00
$0.00
$0.00
6,000,000
526,733
$0.02
$0.00
Latest Key Developments (Source: Significant Developments)
Midas Resources Ltd Announces Fully Underwritten Renounceable Rights Issue
Midas Resources Ltd announced a fully underwritten renounceable rights issue (Rights Issue) of four fully paid ordinary shares (New Shares) for every one fully paid ordinary share at a price of AUD 0.001 each to raise approximately AUD 2.16 million (before costs). The Company intends to apply the proceeds from the Issue to fund the expansion and development of its Lake Carey gold exploration projects and the Paterson Project and for general working capital purposes. Full Article
Midas Resources Ltd Does Not Declare Dividend
Midas Resources Ltd announced that no dividends were declared or paid during the six months ended December 31, 2012 (2011: NIL). Full Article
Midas Resources Ltd Commences Drilling Operations On Paterson Project
Midas Resources Ltd announced that drilling operations are underway at its Paterson Project in the East Pilbara district of Western Australia. Drilling operations have commenced on a VTEM geophysical target in E45/3468 where the target is Nifty style copper mineralisation in carbonaceous sediments of the Broadhurst Formation. Full Article
Midas Resources Ltd Announces No FY 2012 Final Dividend
Midas Resources Ltd announced that no dividends were paid or declared by the Company for the financial year 2012. Full Article
Midas Resources Limited Executes Sale Agreement With Pilbara Commodities Limited
Midas Resources Limited announced that it has executed a binding conditional share sale (Sale) and purchase agreement for all the issued shares in Mulga Minerals Pty Ltd (Mulga) with unlisted company Pilbara Commodities Limited (Pilbara). The execution of the agreement follows an ASX release made on April 30, 2012 concerning acceptance of a conditional sale and purchase offer. The consideration involves: AUD 200,000 in cash; AUD 400,000 in cash upon admittance to the Official List of the ASX; AUD 4.0 million fully paid AUD 0.20 shares and 4.0 million AUD 0.20 options expiring June 30, 2017 upon admittance to the Official List of the ASX; and Pilbara to be responsible for maintenance of the tenements as of the date of the initial payment of AUD 200,000. Settlement of the Sale will occur upon admission of Pilbara to the Official List of the ASX. Full Article
Midas Resources Limited Announces Grant Of Third Tenement
Midas Resources Limited announced that Tenement E 45/3768 has been granted, bringing Midas' total to three granted tenements (E 45/3467, E 45/3468 and E 45/3768) covering a total of 255 graticular blocks or 795 square kilometer (km2); with a fourth tenement (E 45/3895) still under application. Newly granted tenement E45/3768 covers Yeneena Group sediments, including Broadhurst and Coolbro formations. The Broadhurst formation is the preferred stratigraphic host for Nifty style copper mineralization. The sediments are intruded by an interpreted Crofton suite granite. The Company is planning a 650 meters deep diamond drill hole to test for IOCG-style hydrothermal alteration and mineralization associated with the magnetic anomaly. A secondary target that could be encountered in drilling is unconformity-related uranium mineralization at the base of the host Coolbro Formation. Full Article
Midas Resources Limited Sells All Shares In Mulga Minerals Pty Ltd To Pilbara Commodities Limited
Midas Resources Limited announced that it has accepted a binding conditional purchase offer (Offer) for all the issued shares in Mulga Minerals Pty Ltd (Mulga) from Pilbara Commodities Limited (Pilbara). The Offer involves: AUD 200,000 in cash upon completion of Due Diligence by Pilbara; AUD 400,000 in cash upon admittance to the Official List of the ASX; AUD 4.0 million fully paid AUD 0.20 shares and 4.0 million AUD 0.20 options expiring June 30, 2017 upon admittance to the Official List of the ASX; and Pilbara to be responsible for maintenance of the tenements as of the date of the initial payment of AUD 200,000. Full Article
Midas Resources Limited Announces Grant Of Exploration Licenses In Paterson Province
Midas Resources Limited announced that two tenements covering a total of 67 graticular blocks or 213 square kilometer (km2) have been granted to the Company. The tenements E45/3467 and E45/3468 cover key parts of the Broadhurst Formation, which is the preferred stratigraphic host for Nifty style copper mineralisation. Full Article
Midas Resources Limited Announces Gold Tenement E40/295 Granted
Midas Resources Limited announced that E40/295 has been gazetted as granted. The tenement comprises 48 graticular blocks and it is a key tenement that forms part of the Company’s Leonora Gold Project situated between Leonora and Kookynie, approximately 200 kilometers (kms) north of Kalgoorlie in Western Australia. Full Article
Midas Resources Limited Commences Drilling On Intrepid Prospect
Midas Resources Limited announced that aircore drilling will commence on a gold target south of the Intrepid Prospect at the Company's Lake Carey Project in Western Australia. The Intrepid prospect covers an area of widespread gold anomalism in aircore drill holes situated on the Bindah Shear zone in the northwest part of Midas' Lake Carey project. Two east-west lines of Aircore drilling (for a total of 1,150 meters) are being drilled immediately south of Intrepid to test the Bindah Shear in order to locate any mineralized structures and facilitate the planning of grid RC drilling on this structure. Full Article
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