Moto Goldmines Limited (ASX:MTO) Listed on the Toronto Stock Exchange with Strong Investor Support Says CEO Klaus Eckhof
Moto Goldmines Limited (ASX:MTO), an Australian-based junior explorer has now listed on the Toronto Stock Exchange with a secondary listing on the Australian Stock Exchange Says CEO Klaus Eckhof.
(PRWEB) June 17, 2005 -- Moto Goldmines Limited (ASX:MTO), an
Australian-based junior explorer has now listed on the Toronto Stock Exchange
with a secondary listing on the Australian Stock Exchange Says CEO Klaus Eckhof.
Following shareholder approval, Moto Goldmines Limited completed a
merger with the Canadian-based King Products Inc and the merged entity is now
listed on the Toronto Exchange (TSX:MGL) and has a new code on the Australian
Stock Exchange (ASX:MOE).
"Already we’ve had considerable investor
support in the North American market and this has given us the confidence to
pursue our vision of maximizing shareholder value through the discovery of
substantial, high grade gold deposits in Central Africa," said Klaus Eckhof,
Moto Goldmines Executive Director.
The company is conducting an
extensive exploration programme in the Haut-Congo province in the north east of
the Democratic Republic of Congo and has indicated resources of seven million
tonnes at 2.7 grams per tonne gold for 600,000 ounces Au and inferred resources
of 55.5Mt at 2.9 g/t Au for 5,210,000 ozs Au.
"Moto is now a wholly
owned subsidiary of King providing the necessary corporate structure to provide
ongoing funding to develop the Moto project," Mr Eckhof said.
The
Democratic Republic of Congo has a long history of gold mining and was the
world’s fifth largest gold producer in the 1960’s.
"While the region may
be perceived as high political risk, we see a new dawn for the Congo as one of
the last frontiers in modern exploration and mining and aim to operate at all
times with a high social, environmental and ethical awareness," Mr Eckhof said.
Moto is undertaking an extensive drilling programme focused on
identifying substantial gold resources in this under explored but highly
prospective gold province.
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Source : http://www.prweb.com/releases/2005/6/prweb251641.htm