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Andean Mining Ltd

Andean Mining Ltd

 Upcoming IPO

Issuer Andean Mining Limited  ABN 98 625 466 006
Transaction 
 Raising between $6m and $7m  @  20c per share to fund drilling aiming to define a maiden JORC resource at El Dovio 
Lead Broker   Novus Capital Limited 
Co-Advisor Cadmon Advisory

Indicative Time Table   (subject to change)

Lodgement  of the Prospectus October  26
Opening of the OfferNovember 2
Expected CloseNovember 30
Listing  on ASXDecember 15

 Brief  Company Summary

Andean has acquired 100% ownership of the high-grade copper/gold El Dovio VMS project in Colombia from Newrange Gold Corp of Canada.

The EL DOVIO  project is an advanced exploration project that hosts a high-grade copper/gold Volcanogenic Massive Sulphide (VMS) system located in the Department of Valle del Cauca, Colombia.

PROJECT HIGHLIGHTS

  • Historical drilling and underground development 
  • Sabana Blanca “stringer zone” contains a high-grade core within a broad halo of stockwork mineralisation 
  • Mineralisation over 1 km in strike and open at depth 
  • Excellent recoveries from metallurgical test work around 95%  in samples done to date
  • Potential main feeder zone (Brazo 1) identified 
  • IPO funds to drill maiden JORC resource across known mineralised areas 

Management  Experience

Management has an excellent track record  of  discoveries and mine development

MD has  years of experience in South America in particular Columbia

Location

Columbia rated  by the Fraser Institute  as one of the best locations for Mining in Latin America

El Dovio Project is well located in terms of infrastructure


More Information.

Gavan Farley - gavan.farley@novuscapital.com.au +61 420 520 300 or 

Wayne Rossiter wayne.rossiter@novuscapital.com.au +61 420 959 304