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    MBK   AU000000MBK5

METAL BANK LIMITED

(MBK)
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Global Energy Metals Corporation Sings Binding Terms Earlier This Month It Has Now Enters into A Formal Option Agreement with Metal Bank Limited

06/28/2021 | 09:13am EDT

Global Energy Metals Corporation announce that following on from signing binding terms earlier this month it has now entered into a formal option agreement with Metal Bank Limited for a 6 month exclusive option in favour of MBK to earn-in and joint venture the Millennium cobalt, copper and gold project in Mount Isa, Queensland owned by GEMC’s wholly owned subsidiary, Element Minerals Australia Pty Ltd. During the exclusive 6-month option period, MBK will undertake further due diligence and complete an initial exploration program to confirm the potential for mineralisation in the northern half of the tenement package.   An infill pXRF soil survey and geological mapping to refine drilling locations will commence in the first week of July. At the end of the option period, MBK will have the right to commence a formal earn-in to the Project to earn up to an 80% interest over two phases. Global Energy Metals and Metal Bank Limited have signed a formal agreement granting MBK a 6 month exclusive option to earn-in and joint venture GEMC’s Millennium copper-cobalt-gold Project in the heart of Mount Isa, Queensland; Millennium contains an inferred Cu equivalent Mineral Resource of 5.89MT1 across 5 granted mining leases with significant potential for expansion; MBK’s initial exploration program at Millennium will commence in the first week of July; At the end of the Option Period, MBK will have the right to commence a formal earn-in to the Project to earn up to an 80% interest; The transaction advances GEMC’s objectives of monetizing its existing projects by unlocking unrealized value and advancing projects through partner funded exploration; and GEMC retains project level exposure while diversifying its equity holdings in a well managed company that is creating value through a combination of exportation success and quality project acquisition.


ę S&P Capital IQ 2021
All news about METAL BANK LIMITED
09/24GLOBAL ENERGY METALS : Announces Drilling Results at Millennium North Identifies Significa..
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09/22METAL BANK : Uncovers Broad, Shallow Copper at Millennium Project
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09/22Metal Bank Limited Announces Full Assay Results from the Initial RC Drilling Program At..
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09/08METAL BANK : Concludes Preliminary Drilling at Queensland's Millennium Project
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09/07Metal Bank Limited Announces Completion of Millennium Drilling with First 2 Holes Assay..
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08/16Metal Bank Limited Announces Drilling Underway at the Millennium Cobalt-Copper-Gold Pro..
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08/04METAL BANK : Expands 8 Mile Project in Queensland After Securing Wild Irishman Permit; Sha..
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08/03Metal Bank Limited Announces EPM27693 "Wild Irishman" Has Now Been Granted
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07/15Metal Bank Limited Commences Initial Exploration
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07/14Metal Bank Limited Announces Commencement of Phase 1 Work Program at Millennium
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Financials
Sales 2020 0,01 M 0,01 M 0,01 M
Net income 2020 -1,33 M -0,97 M -0,97 M
Net cash 2020 0,63 M 0,46 M 0,46 M
P/E ratio 2020 -5,97x
Yield 2020 -
Capitalization 11,9 M 8,66 M 8,65 M
EV / Sales 2019 106x
EV / Sales 2020 661x
Nbr of Employees -
Free-Float 46,6%
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Managers and Directors
InÚs Louise Scotland Executive Chairman
Guy Robertson Executive Director
Sue-Ann Higgins Secretary & Executive Director
Trevor Wright Exploration Manager
Sector and Competitors
1st jan.Capi. (M$)
METAL BANK LIMITED-16.67%8
NEWMONT CORPORATION-10.00%43 112
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WHEATON PRECIOUS METALS CORP.-6.40%17 650
NEWCREST MINING LIMITED-11.44%13 633