Brighton Mining Group (BTN) aims to become an integrated manganese miner and trader following its proposed acquisition of Asia Minerals Corporation.
Asia Minerals is an unlisted company with a focus on the exploration for and production of manganese, and on the operation of a marketing and trading platform for small to medium sized steel producers.
Its flagship project is the Kefa manganese operation in Indonesia where it proposes to implement world-leading exploration, processing and environmental practices to develop a vertically integrated manganese production and marketing enterprise. Brighton is offering to acquire all Asia Minerals shares via issue of 23 Brighton shares for every 1 Asia Minerals share held.
Concurrently, Brighton is offering to acquire a related entity, the unlisted Brighton Mining Limited (BML), on the basis of 5 BTN shares and 5 options to acquire BTN shares exercisable at US$0.01 on or before December 31, 2016, for every three BML shares.
BML holds two gold exploration licences in Cambodia. In addition and as part of the acquisitions, BTN will seek to raise US$5 million via issue of 25 million shares at US$0.20, following a consolidation of capital.
Brighton Mining Group Limited is an exploration company with a focus on gold exploration within Cambodia. It has very promising exploration projects located in the gold-rich province of Mondulkiri with hosts Renaissance Minerals’ Okvau Gold Project.