Minco PLC is a mineral exploration company engaged in zinc-lead and manganese exploration and development in Canada, the United Kingdom and Ireland and in evaluating a manganese project in New Brunswick, Canada.  Minco also has an investment in base metal and silver projects in Mexico through its 26% interest in ownership of Xtierra Inc.

Minco is incorporated in the Republic of Ireland and listed on the AIM Market of the London Stock Exchange under the symbol MIO. Minco's directors and management have an established track record of discovering, developing and operating mines across the world. 

Overview of Minco’s Projects  

 Minco plc Sale of Curraghinalt Royalty

Possible Offer for Minco plc by Dalradian Resources Inc.
and
Demerger of Buchans to Minco Shareholders

 

On 21 March 2017, Minco announced that it is in discussions with Dalradian Resources Inc. regarding the possible disposal of its 2% net smelter return royalty on the Curraghinalt gold deposit (the “Royalty Disposal”) in return for the issue of a total of 15,490,666 new Dalradian Shares valued at C$20,000,000,

 It is proposed that the Royalty Disposal would be structured as an offer by Dalradian for the acquisition of the entire issued share capital of Minco (the “Possible Offer”). It is intended that the Possible Offer would be implemented by means of a scheme of arrangement, under Section 450 of the Companies Act 2014 of Ireland (“Scheme”).

As part of the Scheme, it is proposed that Minco would undertake a demerger of its wholly owned subsidiary Buchans Resources Limited (“Buchans”), a wholly owned subsidiary of Minco, by way of a transfer in specie of the shares of Buchans to Minco Shareholders (the “Demerger”).

Following the Demerger Minco shareholders would be issued 11,618,000 new Dalradian Shares which would represent 75% of the total shares to be issued by Dalradian in connection with the Royalty Disposal. The balance of 3,872,666 new Dalradian Shares, being 25% of the total, would be issued directly to Buchans, which would then be wholly owned by Minco Shareholders.

For more information, please see the announcement dated 21 March 2017.

Buchans, Newfoundland, Canada

Minco’s wholly-owned subsidiary, Buchans Minerals Corporation, has four advanced base metal properties in the Buchans area of central Newfoundland containing numerous exploration prospects. At the core of these properties is the Lundberg copper-zinc-lead deposit, which is the most advanced undeveloped deposit in the district and consists of a large lower grade resource being evaluated for open pit mine development. 

North Pennines, United Kingdom 

The North Pennines Orefield in the north of England is the second largest area of carbonate-hosted lead-zinc mineralization in the British Isles with an extensive history of past production (1700s – 1938). Minco’s exploration project in the North Pennines is centered in the vicinity of Nenthead, the most prolific area of past production within the Pennines Orefield, with potential for disseminated zinc-lead mineralisation within the surrounding historic vein mine workings. 

Moate, Westmeath, Ireland

Minco holds three prospecting licences at Moate in County Westmeath, located along the northwestern margin of the Irish Midland Orefield on the “Tynagh-Ballinalack Trend and centered on a specific geological target with potential for zinc-lead mineralisation of Tynagh Mine type. 

Tatestown, Navan, Ireland

Minco owns a 20% interest (Tara-Boliden 80%) in Prospecting License 1440R in Tatestown, Ireland, located adjacent to Tara-Boliden's Navan mine in Navan Co. Meath. Tara-Boliden has continued exploration of license 1440R to identify further mineralized areas for potential development as satellite deposits for mill feed at its Navan mine.

Curraghinalt, Northern Ireland 

Minco holds a 2% net smelter royalty on the Curraghinalt gold deposit near Omagh, Co. Tyrone, Northern Ireland. The deposit is currently being explored and developed by Dalradian Resources Inc.

New Brunswick, Canada

Minco holds a 100% interest in the Woodstock electrolytic manganese metal (EMM) project located 5 km west of the town of Woodstock and the junction of the Trans Canada and US I95 Highways in west-central New Brunswick.  Minco has completed a positive Preliminary Economic Assessment on the project for a 3,000 tonne per day open pit mining, hydrometallurgical and electrowinning operation, with projected average annual payable production of approximately 80,000 tonnes of electrolytic manganese metal.

Mexico – Zinc and Silver Projects

Through its 26% shareholding in Xtierra Inc. (TSX-V: XAG), Minco participates in the exploration and development of advanced projects in Mexico, including the Bilbao deposit located in the State of Zacatecas in the Central Mexican Mineral Belt, a prolific mineralized belt that has historically generated the bulk of Mexico’s silver production from the early colonial period to the present day and hosts many world class precious and base metal deposits.