Metminco Signs Deal with Hampton

1 October 2009 (Last Updated October 1st, 2009 18:30)

Metminco has signed an option agreement with an investment company to purchase a controlling stake in junior investment company Hampton Mining, which has interests in the Peruvian drilling programme at Los Calatos. Under the agreement, Metminco will purchase the investment company's 31.

Metminco has signed an option agreement with an investment company to purchase a controlling stake in junior investment company Hampton Mining, which has interests in the Peruvian drilling programme at Los Calatos.

Under the agreement, Metminco will purchase the investment company's 31.9% controlling stake in Hampton for $1m.

The company garnered A$2.5m by issuing 16.7 million shares at a 15 cents issue price to professional investors.

The funds will be used to meet JIC option fees working capital and cash reserves.