About Minco, Plc - Description of the Business
Minco is a London listed (AIM Market: MIO) mining exploration and development company engaged in zinc exploration in Ireland in a joint venture with Xstrata Zinc and with investments in base metal and silver projects in Mexico through an investment (40%) in Xtierra Inc. listied on the TSX Venture Exchange in Toronto. The company's management has an established track record of discovering, developing and operating mines world-wide and this expertise is directed to turning Minco into a production and holding company.
Minco's Strategy
Minco's goal is to become a significant zinc producer mainly through the advancement of its projects in Ireland but also seeking other advanced stage projects in other locations around the world.
Minco's Major Mining Projects
Pallas Green Zinc, Ireland
Minco owns 23.6% of the Pallas Green exploration project in joint venture with Xstrata Zinc. The Pallas Green licences, totalling 294 square kilometres, are located on the southern boundary of the Irish Midland orefield between Limerick and Tipperary. Drilling has resulted in the discovery of several sulphide deposits at Castlegarde, Tobermalug, Caherconlish South, and Srahane West.
Since 2007, drilling has focused on Tobermalug, near Caherconlish, where a deposit comprising 11.3 million tonnes at 12% combined zinc+lead (JORC compliant) was published in August 2009. Minco's internal estimate is about 15 million tonnes (of about 12% zinc plus lead combined) contained in what is believed to be a semi-continuous zone which remains open to the south and to the northwest. This internal estimate of potential is not, and should not be interpreted as, a JORC compliant resource estimate. Minco and Xstrata have initiated a US$10 million exploration programme, mainly drilling, for 2010.
Mexican Zinc and Silver Projects
Through its 40% interest in XTIERRA Inc., Minco participates in the exploration and development of advanced projects, including the Bilbao silver-zinc-lead-copper-gold deposit on which Xtierra is completing a feasibility study. Xtierra holds a very extensive exploration portfolio focused on the Central Mexican Mineral Belt within the States of Zacatecas and San Luis Potosi.
Minco's Management Team
Minco has an experienced management team, both at the operating level in Mexico as well as performing the headquarter roles expected of listed public company directors. During early 2005 a dedicated Mexican management team was recruited to enable Minco to continue to develop its business there.
Last updated 13 May 2010