Xanadu Mines Ltd. is pleased to report that is has accepted firm commitments for a placement of 34.0 million new fully paid shares in Xanadu at A$0.033 per New Share to raise approximately A$1.12 million . Proceeds from the Placement will be used to underpin the next phase of activities at its Kharmagtai copper and gold project . HIGHLIGHTS A$1.12 million raised at A$0.033c per share, with strong demand from existing [...]
Xanadu Mines Ltd. is pleased to report that on-ground exploration activities have commenced at the highly prospective Red Mountain Joint Venture with the Japan Oil, Gas and Metals National Corporation . HIGHLIGHTS On-ground exploration activities have commenced at Red Mountain On-ground program is designed to collect baseline data over the large district to prepare drill targets Red Mountain JV with JOGMEC is focused on [...]
Xanadu Mines Ltd. wishes to provide an update on its Mongolian exploration projects, with the Company implementing several important changes over the previous months to ensure workplace safety and balance sheet preservation in response to the spread of CoV-2 and subsequent COVID-19 pandemic. HIGHLIGHTS Diamond drilling at Kharmagtai was suspended in February and field crews demobilised to their home bases in order to [...]
Xanadu Mines Ltd. advises that due to the current restrictions arising from the COVID-19 containment efforts, and in line with recent advice received from the Australian Securities and Investments Commission , the Xanadu Board has decided to defer the Company’s Annual General Meeting , which was due to be held on 8 May 2020, as advised in Xanadu’s ASX/TSX Announcement dated 16 March 2020. ASIC has recently provided the [...]
Xanadu Mines Ltd. is pleased to announce that it has entered into an earn-in agreement with Japan Oil, Gas and Metals National Corporation to sole fund up to $USD7.2 million in exploration expenditure at the Company’s Red Mountain copper-gold Project located in the South Gobi region of Mongolia . Exploration objectives of the earn-in deal are to discover Mongolia’s next world-class copper-porphyry deposit [...]
Xanadu Mines Ltd. is pleased to advise that in accordance with ASX Listing Rule 3.13.1, Xanadu will hold its 2020 Annual General Meeting on: Date: Friday, 8 May 2020 Time: 10:00am Location: Computershare Investor Services Pty Limited, Level 3, 60 Carrington Street Sydney NSW 200 In addition, the closing date for the receipt of nominations from persons wishing to be considered for election as a director is Wednesday, 25 [...]
Xanadu Mines Ltd. is pleased to report that diamond drill hole KHDDH526, located to the immediate east of the Stockwork Hill deposit on the Company’s Kharmagtai porphyry copper and gold project in the south Gobi region of Mongolia , has intersected a significant new zone of mineralisation outside the defined resources. This new discovery significantly increases the potential strike of the Stockwork Hill Deposit [...]
Xanadu Mines Ltd. is pleased to advise that the Company has overnight, conducted a non-brokered placement raising $2,584,768.26 . The Placement was conducted at $0.033 per share and it will result in 78,326,311 new ordinary shares being issued. Shareholder approval is not required for the Placement which was undertaken under Xanadu’s Listing Rule 7.1, 15% placement capacity and the New Shares issued under the [...]
Xanadu Mines Ltd. is pleased to announce significant improvements in copper and gold recoveries from metallurgical testing from its flagship at Kharmagtai project, which is located in the south Gobi region of Mongolia . The new metallurgical test programme has expanded on that conducted during the 2018 Mineral Resource Estimate and 2019 Scoping Study and has produced substantial improvements in copper and gold recovery [...]
Xanadu Mines Ltd. wishes to advise the pending retirement of Dr Darryl Clark as non-executive director and Chairman of the Company, and the appointment of his successor, Mr Colin Moorhead. The transition will take effect from 29 November 2019. Mr Moorhead is an experienced industry executive with a demonstrated track record of over three decades building value in mining companies through innovation, discovery, project [...]
27 November 2019 Mr. Alex Sutton Adviser - Geology, Listing Compliance ASX Limited Level 4, Exchange Centre 20 Bridge Street Sydney NSW 2000 By email only: Alex.Sutton@asx.com.au Dear Alex Xanadu Mines Ltd. Updated ASX Announcement Further to Xanadu Mines Ltd.’s announcement tilted Significant increase in Exploration Target at Kharmagtai, lodged with the ASX on 6 November 2019, attached is a revised announcement [...]
Xanadu Mines Ltd. is pleased to announce it has upgraded the global copper and gold Exploration Target at its flagship Kharmagtai project, which is located in the south Gobi region of Mongolia . A new global Exploration Target has been developed to highlight the large-scale copper-gold potential of the Kharmagtai project. Additionally, an independent valuation has been completed by SRK for the Kharmagtai Mining Lease [...]
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