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mount magnet south nl (MUM) Details

Mount Magnet South NL explores and develops for mineral properties in Australia. The company explores for gold, copper, nickel, and iron ore. It primarily holds interests in the Kirkalocka gold project consisting of 13 tenements covering 699 square kilometers located in the Mid West region of Western Australia. Mount Magnet South NL was incorporated in 2001 and is headquartered in West Perth, Australia.

10 Employees
Last Reported Date: 09/24/13
Founded in 2001

mount magnet south nl (MUM) Top Compensated Officers

Company Secretary
Total Annual Compensation: --
General Manager of Projects
Total Annual Compensation: A$252.3K
Compensation as of Fiscal Year 2013.

mount magnet south nl (MUM) Key Developments

Mount Magnet South NL Presents at Mines and Money Hong Kong 2013, Mar-19-2013

Mount Magnet South NL Presents at Mines and Money Hong Kong 2013, Mar-19-2013 . Venue: Hong Kong Conference & Exhibition Centre, 1 Expo Drive, Wanchai, Hong Kong.

Mount Magnet South NL Reports Consolidated Earnings Results for the Half Year Ended December 31, 2013

Mount Magnet South NL reported consolidated earnings results for the half year ended December 31, 2013. For the year, the company reported loss before income tax expense of $1,281,087 compared to $3,550,595 a year ago. Net profit was $159,056 or 0.03 cent basic per share compared to net loss of $2,550,759 or 0.55 cent basic per share a year ago. Net cash provided by operating activities was $1,292,902 compared to net cash used in operating activities of $2,602,986 a year ago. Payments for property, plant & equipment were $19,150 compared to $7,928 a year ago.

Australian Mines Ltd. Enters into Farm-In and Joint Venture Agreement with Mount Magnet South NL

Australian Mines Ltd. announced that it has entered into a farm-In and Joint Venture Agreement with Mount Magnet South NL covering the Jumbulyer gold and copper project located within the Murchison Gold Fields district of Western Australia. The Project consists of 31 granted and pending tenements covering 129 square kilometers in one of Australia's most prolific gold producing regions. Recent scout drilling programs completed by Mount Magnet South identified two mineralized structures within the Project, which demonstrate the area's potential to host gold mineralization. Significant drill results returned from the Foothills prospect as previously announced by Mount Magnet South include: 16 metres@6.6 g/t gold from 9 metres(drill hole DH135); 10 metres@3.3 g/t gold from 20 metres (drill hole FR001); 14 metres@2.6 g/t gold from 38 metres(drill hole FRC04); and 20 metres@3.0 g/t gold from 41 metres(drill hole FHRC002). In addition to the encouraging gold results, the Foothills prospect also appears to be an emerging copper target with Mount Magnet South recently mapping multiple outcrops of oxide and supergene copper mineralization across this prospect.


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