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Gold/Mining/Energy : Rare Earth Elements and Exotic Metals -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (10644)	8/10/2014 5:50:15 PM
From: LoneClone	Read Replies (1) \| Respond to of 24613

Elementos raises funds for Tasmania tin, copper and tungsten projects Thursday, August 07, 2014 by Proactive Investors proactiveinvestors.com.au Elementos ( ASX:ELT) has raised $1.52 million from an oversubscribed rights issue to fund advanced development activities at the Cleveland tin-copper and tungsten projects in Tasmania. The rights issue of 126 million shares priced at $0.012 each adds to the earlier private placement of 48 million shares to raise $0.58 million. Short-term high priority activities include: - Finalisation of the environmental permitting for the tailings development and mine dewatering, as a precursor to applying for a Mining Lease; - Further metallurgical test work on the tailings resource for process sheet optimisation, engineering and design; - Technical appraisal of the Cleveland hard-rock resource to continue with an emphasis on defining open-cut mineable resources; - Advancing strategic relationships with industry players that may provide marketing, financial and technical synergies with the Cleveland tin and tungsten deposits; and - Evaluation of the Foley tungsten resource within the Cleveland Project. Elementos had completed the acquisition of the remaining 50% interest in the Cleveland project in July this year for a cash payment of $0.15 million and the issue of 29 million Elementos shares. Cleveland has an Exploration Target of between 3 million and 16 million tonnes at 0.6% to 0.7% tin and 0.2% copper. It also hosts an Indicated Tailings Resource of 3.85 million at 0.3% tin as cassiterite and 0.13% copper.