Wednesday February 28, 2024
Volume 39 No. 06
$2 inc. GST
The Cobar Weekly Federation VPA worth $7.3 million to council Pg 2
Ward Oval project on track for completion Pg 3
Another arrest made by Strike Force Dozer Pg 5
Mining is dominating this week’s news
Mining is dominating the news this week Company as we continue to expand and work recorded at Nymagee (37.9 per cent Zn) and with three of Cobar’s biggest mining share- towards our long-term goal of owning and some of the highest copper (13.4 per cent Cu) holders, Metals Acquisition Corp (MAC), operating multiple metals and mining assets and silver (254g/t Ag) assay results since drillAurelia Metals and Polymetals Resources, that are critical to the electrification and decar- ing started in the area in 1905. all reporting favourable outcomes. bonisation of the global economy and become Aurelia’s Chief Development and Technical MAC has this week gained national attention a notable player in the industry,” he said. Officer, Andrew Graham noted the results also after it became the largest Australia Stock Ex- Aurelia Metals has just released the success- highlight why the company is back drilling at change (ASX) mining listing in five years. ful results of their exploration program at the Nymagee. MAC, which purchased the CSA Mine from Nymagee Deposit. “The grade in the lead-zinc zone was excepGlencore in June 2023, is now dual listed on Aurelia reports the four-hole exploration tional but it’s the multiple lenses of thick, high the ASX and NYSE (New York Stock Ex- program reaffirms the significant prospectivity -grade copper that’s the real standout of this change). of the Cobar Region. program,” Mr Graham said. The company listed through a $325 million The program included the highest zinc assays Continued Page 2. initial public offering (IPO) which is the largest amount raised for a mining IPO since July Photo contributed 2021. MAC reports strong support for the offer was received from Australian and offshore institutional investors, including MAC’s existing shareholders. The company advises the proceeds of the offer will be used for further development of the CSA Mine, to pay a deferred payment due to Glencore, to fund growth opportunities at CSA, and for working capital and costs associated with the offer. MAC CEO Mick McMullen said they were very pleased to have achieved an ASX listing. “An Australian IPO and listing will allow us to pursue a range of organic and inorganic growth opportunities in Australia and globally to continue building shareholder value,” Mr McMullen commented. “While we have made significant progress in improving overall operational performance at our CSA Copper Mine to date, our initial focus will be to assess further exploration, development, and production improvement opportunities. “The listing is an important milestone for the MAC’s CSA Mine will benefit from the company’s recent dual listing on the ASX.