MGT successfully listed on the Australian Securities Exchange (ASX) in January with an offering underwritten by Patersons Securities Limited
In late January ML 20547 “Summer Hills”, one of the biggest mining leases in the region, was granted. This mining lease surrounds the Mt Veteran processing plant, and contains MGT’s first mining target, the Dalcouth Prospect. Dalcouth, a shallow open-pittable deposit is situated around 500 metres from the processing plant. This will keep extraction costs very competitive.
In February, MGT sent its maiden shipment of tin concentrate to a London Metals Exchange licensed smelter in Asia. This was a particularly significant milestone for the company as it demonstrated that its tin concentrate would be accepted by an LME approved smelter.
In February, acquisition of further MGT Mining shares brings total shareholding to 86.48%
In mid 2013, Phases One, Two & Three of the 2013 Summer Hills Drilling Program produced some of the highest grades and shallowest tin intercepts reported in Australia for some time, validating the decision to focus on Dalcouth as the first mining target.
In August, acquisition of further MGT Mining shares brings total shareholding to 89.48%