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    MBK   AU000000MBK5

METAL BANK LIMITED

(MBK)
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Metal Bank Limited Announces Drilling Underway at the Millennium Cobalt-Copper-Gold Project in Queensland, Australia

08/16/2021 | 09:12am EDT

Global Energy Metals announced that its partner, Metal Bank Limited has commenced drilling acUviUes as part of a six month exclusive opUon (`OpUon') for MBK to earn-in and joint venture the Millennium Copper, Cobalt and Gold Project in Mt Isa, Queensland (`Millennium Project'). Highlights: MBK's drilling program at the Millennium Project in northwest QLD has commenced as part of its exclusive 6-month opUon to earn in up to an 80% interest. 2 RC drill holes for 195m completed in the southern project area for resource validaUon and extension: MI21RC01 intersected visible Cu-Co mineralisaUon from 46m to 73m and 82m to 96m. MI21RC02 intersected visible Cu-Co from 62 to 87m. These holes provide confidence in growth upside for the exisUng Inferred. Resource of 5.9Mt @ 1.08% CuEq1. Up to 600m RC drilling in the Northern Extension Area has now commenced Drilling is predominantly focussed on confirming the mineralised system con- Unues to the north, with some resource validaUon work in the south. Drilling is expected to be completed by mid to late August. The first two drill holes in the south have been completed. IniUal observaUons supported by pXRF analysis are very encouraging, with MI21RC01 intersecUng several broad zones of Cu-Co mineralisaUon. This supports the up-dip conUnu- ity of the resource and potenUal northern extension of the southern resource model. MI21RC02 intersected Cu-Co mineralisaUon and infills a zone of low confi- dence in the exisUng resource model. Samples have been delivered for analysis and results are awaited and drilling has now commenced in the Northern Extension area. The Millennium Project is an advanced exploraUon and development project located in the Mount Isa region, 19km from the Rocklands copper-cobalt pro- cessing facility. The Millennium Project holds a 2012 JORC-compliant Inferred Resource of 5.9MT @ 1.08% CuEq across 5 granted Mining Leases with signifi- cant potenUal for expansion, all in close proximity to processing soluUons and excellent infrastructure in the Mount Isa region.


ę S&P Capital IQ 2021
All news about METAL BANK LIMITED
09/27Metal Bank Limited Reports Earnings Results for the Full Year Ended June 30, 2021
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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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Financials
Sales 2021 0,11 M 0,08 M 0,08 M
Net income 2021 -0,36 M -0,27 M -0,27 M
Net cash 2021 1,00 M 0,74 M 0,74 M
P/E ratio 2021 -21,9x
Yield 2021 -
Capitalization 11,8 M 8,79 M 8,79 M
EV / Sales 2020 661x
EV / Sales 2021 68,9x
Nbr of Employees -
Free-Float 46,4%
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Managers and Directors
InÚs Louise Scotland Executive Chairman
Guy Robertson Executive Director
Sue-Ann Higgins Secretary & Executive Director
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