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11OCTOBER2017
MONTEZUMATODIVESTYAMARNAPROJECTE38/2889
HIGHLIGHTS
Ø AgreementreachedwithGoldRoad(NorthYamarna)Pty
LimitedtodivestYamarnaProjecttenementE38/2889.
Ø Montezumahasreceivedconsiderationof$150,000incash
atcompletion.
Ø Montezumatoreceiveadiscoverypaymentof$7.50per
resourceounceonfuturediscoverieswithinthearea
coveredbyE38/2889.
MontezumaMiningCompanyLtd(“Montezuma”or“Company”)advisesthatithasreachedagreementwithGoldRoad(NorthYamarna)PtyLimited(“GoldRoad”)todivestexplorationlicenceE38/2889.
GoldRoadhaspaidconsiderationof$150,000incashandhasagreedtopayMontezumaaDiscoveryPaymentof$7.50perresourceounceonfuturediscoverieswithintheareacoveredbyE38/2889.
GoldRoadmustprepareaMineralResourceStatementonatleastanannualbasisandpaytheDiscoveryPaymentoneachtroyounceofgoldaddedtotheglobalMineralResourcewithin45daysofthefinalisationofeachresourceupdate.
TheDiscoveryPaymentisalsopayableonouncesincludedinamineplanbutwhichhavenotbeenincludedinaJORCresource.
Thistransactionispartofanongoingstrategytorealisevaluefromnon-coreassetstoallowtheCompanytomaintainfocusontheadvancementofitscommercialisationactivitiesatthehighpurityButcherbirdManganeseProjectandthePinnaclesCobaltProjectaswellasotherkeyportfolioassets.
TheinclusionoftheDiscoveryPaymentinthetransactionalsoprovidesMontezumashareholderswithaneffectivefree-carryonfuturediscoveriesprovidingpotentialupsideexposurewithnoriskandnorequirementtoallocatefurtherfundstotheproject.
ABOUTMONTEZUMAMININGListedin2006,MontezumaMiningCompanyLtd(ASX:MZM)isadiversifiedexplorerprimarilyfocusedonmanganese,cobaltandgold.TheCompany’sprimaryobjectiveistoachievereturnsforshareholdersthroughselectedstrategicacquisitionsandtargetedexploration.
Montezumahas100%interestsintheButcherbirdManganeseProjectwhichhostsAustralia’slargestonshoremanganesedeposit,inadditiontothePinnaclesCobaltProjectandtheHolletonGoldProject,alllocatedinWesternAustralia.
MARKETDATAASXcode: MZMShareprice: $0.185Sharesonissue: 83.5MMarketcapitalisation: $15.5MCash(at30June): ~$4.2MListedInvestments(at30June): ~$7.1M
BOARDANDMANAGEMENTChairman SeamusCorneliusExecutiveDirector JustinBrownNon-ExecutiveDirector JohnRibbonsExplorationManager DaveO’Neill
Companyinformation,ASXannouncements,investorpresentations,corporatevideosandotherinvestormaterialontheCompany’sprojectscanbeviewedatwww.montezuma.com.au
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FORMOREINFORMATION…
JustinBrown
ExecutiveDirectorPhone:+61863151400Email:[email protected],ASXannouncements,investorpresentations,corporatevideosandotherinvestormaterialontheCompany’sprojectscanbeviewedat:http://www.montezuma.com.au.
TheinformationinthisreportthatrelatestoExplorationResults,ExplorationTargets,MineralResourcesandMineralReservesisbasedoninformationcompiledbyMrDavidO’NeillwhoisamemberoftheAustralasianInstituteofMiningandMetallurgy.AtthetimethattheExplorationResults,ExplorationTargets,MineralResourcesandMineralReserveswerecompiled,MrO’NeillwasanemployeeofMontezumaMiningCompanyLtd.MrO’NeillisageologistandhassufficientexperiencewhichisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtotheactivitywhichheisundertakingtoqualifyasaCompetentPersonasdefinedinthe2012editionofthe‘AustralasianCodeforReportingofExplorationResults,MineralResourcesandOreReserves’.MrO’Neillconsentstotheinclusionofthisinformationintheformandcontextinwhichitappearsinthisreport
Pleasenotewithregardtoexplorationtargets,thepotentialquantityandgradeisconceptualinnature,thattherehasbeeninsufficientexplorationtodefineaMineralResourceandthatitisuncertainiffurtherexplorationwillresultinthedeterminationofaMineralResource.
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