Hammer Metals Limited
Deal: Fundraise. Lead Manager Europe.
Size: A$700k Total Raise
Date: February 2014
Hammer Metals has one of the largest land packages (2,000km2) of any junior in Mt Isa, Queensland. Its main asset is Kalman, a copper-gold-moly-rhenium deposit, and there is also potential to define a number of other opportunities, including a large IOCG system west of Kalman. Larger operators in the immediate area include BHP Billiton, Glencore Xtrata, Copperchem, Chinova, Cudeco.
HMX currently has a total resource of 31.2Mt at a copper equivalent grade of 1.3% and the Company intends to build a strategic mining hub at Kalman, where the majority of the resources sits.
Hammer is listed on the Australian Stock Exchange with the ticker HMX.
IBCP advised Hammer on its fundraising in February 2014 from UK sophisticated investors.
For more information: www.hammermetals.com.au