MOP Mincorp

RNS Number:5695I
Mincorp Plc
06 September 2006

Mincorp Plc Issue of Equity and Testing Programme



TIDMMOP



Mincorp Plc

September 6 2006



For immediate release



Stock Exchange Announcement



Mincorp Plc

("Mincorp" or "the Company")





Mincorp Plc has made a private placement of 10 million shares of #0.001 each at
an issue price of #0.01 per share to raise #100,000 less commission. The Company
intends to apply for admission of these shares which will begin trading at 8:00
a.m. on Tuesday September 12 2006.



The Company is also pleased to announce that a confidentiality agreement has
been signed with Falconbridge Limited of Canada (now Xstrata) covering the Mt
Cadig nickel project in the Philippines. Two executives of Falconbridge,
including Marc-Antoine Audet, Director of International Exploration for nickel
laterite, visited the property by helicopter on 16th August with Reginald Hare,
CEO of Mincorp Plc.



Auger drilling and test pitting on a portion of the Mt Cadig area has commenced.
The operator is Bonaventure Mining Corporation, a wholly owned subsidiary of
Mincorp Asia, Inc. The latter company is 40% owned by Mincorp Plc. Work is being
carried out under the conditions of a Special Permit to Conduct Initial
Exploration issued by the Governor of Camarines Norte.



The Special Permit has been issued so testing of the deposit could commence
while Bonaventure Mining Corporation is awaiting the issue of an exploration
Permit by the Department of Environment and Natural Resources over an area of
approximately 9,400 hectares in Mt. Cadig. This Exploration Permit Application
covers an area of nickel-bearing laterite which was last tested in 1970.



Results of the current testing programme will be announced when the analysis of
several hundred samples is received from the laboratory. The directors
anticipate that this will take place by the end of October 2006.





For further information:

Mincorp Plc
Reginald Hare                                +632 682 1063

Nabarro Wells & Co. Limited
Hugh Oram/Jonathan Naess                     +44 (0)20 7710 7400




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

IOEBDGDCLDGGGLL

Mincorp (LSE:MOP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Mincorp (LSE:MOP)
Historical Stock Chart
From Jul 2023 to Jul 2024