Martina Minerals Corporation is running its activities at a low ebb in difficult financial markets with management continuing to work with potential investors and joint venture partners on its TRIMA 1 and TRIMA 2 projects near Monkayo in South Eastern Mindanao. The company requires additional funds to continue its operations, fund its associate and its acquisition and exploration activities and to become profitable.
The TRIMA areas are at an early exploration stage and, as such, no mineralised zones have been defined accurately although artisanal workings are seen scattered along the bed of the Naboc River to the south of the southern boundary of TRIMA 1.
Martina has negotiated a private placement with Global Resources Investments Trust (GRIT), an arm’s length party to Martina. Martina sought to raise Can$150,000 through the sale of 3 million common shares, post the consolidation approved at the corporation’s AGM.
GRIT has been established to invest in attractive opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth.