Quarterly Activities Report
Perth, Jan 31, 2012 AEST (ABN Newswire) - Resource Mining Corporation Limited (
ASX:RMI) is pleased to provide a quarterly activities report for the period ended 31 December 2011.
HIGHLIGHTS:
- Updated Mineral Resource Estimate Results in Substantial Increase in Tonnage and Grade at Wowo Gap
- Commercialisation Australia provides grant of A$250,000 in support of Organic Leach Project.
COMPANY OVERVIEW
Resource Mining Corporation Limited (ASX:RMI) is a Perth-based specialist mineral exploration company creating wealth from mineral commodities using innovative technical, marketing and financial skills as it explores for economic metal deposits in Australia and Papua New Guinea.
This quarterly report highlights a number of significant milestones for the company including:
1. Raising A$608,067 for working capital through the conversion of options and the issue of new shares.
2. Being awarded a A$250,000 Commercialisation Australia grant from the Federal Government to provide proof of concept for its organic acid nickel recovery process and the
3. Updated Mineral Resource Estimate which has substantially increased the tonnage, grade and confidence level of the Wowo Gap Nickel Laterite deposit.
CORPORATE
Resource Mining Corporation raised a total of $608,067 during the quarter through the following share issues:
Patersons Securities acted as Lead Manager in the issue of 80,000,000 new shares to a sophisticated investor at A$0.005 per share to raise A$400,000; and 26,008,379 new shares were issued at A$0.008 per share upon the exercise of listed options Funds raised are being used for working capital purposes.
To view the complete Resource Mining Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-RMI-576156.pdf
Contact
Warwick Davies
Managing Director
P: +61-8-9213-9400
M: +61-418-949-759
Thomas Murrell
Investor Relations
M: +61-417-984-996
rmc@resmin.com.au
http://www.resmin.com.au
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