HPD plans New Year Aim move
Article Date: Nov 21 2002As foreshadowed here last month, Ofex-traded HPD Exploration, which is prospecting for gold in Argentina, is understood to be considering a move to Aim in January or February, possibly accompanied by a £2 million fund raising, with the help of broker Seymour Pierce. Robert Tyerman reports.
HPD, which recently raised £2.37 million in a placing at 13.5p, has a joint venture through a 50 per cent owned local subsidiary, Patagonia Gold, to develop two potentially rich epithermal gold prospects in southern Argentina. Patagonia intends to start exploratory drilling in the Cuya and El Fuesto prospects and can earn 50 per cent of the prospects from Apac Minerals of Canada by spending £1 million over two years.
HPD began life as sister company to the Brancote mining company, which has now been taken over by North America's Meridien group. Its shares, recommended at 4.75p in April in our former Mining Column, now stand at 14.62p.
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