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montero mining and explorati (MON) Details

Montero Mining and Exploration Ltd. engages in the identification, acquisition, evaluation, exploration, and development of mineral properties in Tanzania, South Africa, and Canada. The company primarily explores for rare earth elements, phosphates, and uranium deposits. It principally holds interests in the Wigu Hill project that consists of 2 prospecting licenses covering an area of 55.65 square kilometers located in Tanzania. The company was incorporated in 2006 and is headquartered in Toronto, Canada.

Founded in 2006

montero mining and explorati (MON) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$62.5K
Chief Financial Officer, Secretary, Director ...
Total Annual Compensation: C$31.3K
Compensation as of Fiscal Year 2013.

montero mining and explorati (MON) Key Developments

Montero Mining and Exploration Ltd. Announces the Results of Moyale Graphite Project

Montero Mining and Exploration Ltd. announced the results of a review of existing information completed on the Moyale Graphite Project in Ethiopia. The Moyale deposit is described as having favorable characteristics for development as compared to other global flake graphite deposits. The graphite bearing horizons have been mapped and systematically sampled in shallow trenches. There is initial preliminary evidence to demonstrate upside exploration potential at Moyale. An exploration target on the order of 1.5 Mt of contained graphite (Cg) from the three defined areas combined has been developed, assuming that the graphite mineralization has grade and thickness continuity down dip to 100 m vertical depth. Given the current annual demand for natural flake concentrates this would be more adequate as the basis for conducting feasibility studies. A phased evaluation program of data verification, ground truthing, trenching/pitting and resampling and core drilling has been proposed to assess the mineral potential to a vertical depth of 100m. Metallurgical testwork will form an integral part of the program which is planned to lead to preparation of an NI 43-101 compliant resource and Preliminary Economic Analysis. The budget for the full program is estimated at approximately $1.5 million including contingency allowance.

Montero Mining and Exploration Ltd. Acquires Moyale Graphite Project in Ethiopia

Montero Mining and Exploration Ltd. has entered into a binding agreement with Hulager General Import and Export plc, to acquire up to an 80% interest in its wholly owned Moyale Graphite Project in Ethiopia (the "Property"). The agreement provides Montero six months to complete legal and technical due diligence to its satisfaction and is also subject to regulatory approval. Under the terms of the binding agreement, Montero immediately earns a 51% interest in the Property by committing to define and complete a report prepared in compliance with NI 43-101 within 2 years with a minimum expenditure requirement of $1.5 million. Montero may earn a further 29% interest by completing a Feasibility study within 3 years to a maximum expenditure of $10 million. The Moyale Graphite Project (Moyale) is located in southern Ethiopia 5km to the west of the town of Moyale. It is located in the Oromia Region connected by an asphalt road to the capital, Addis Ababa.

Montero Mining and Exploration Ltd. Announces Resignation of Michael Wolley from Board of Directors

Montero Mining and Exploration Ltd. announced the resignation of Michael Wolley, effective immediately, as a member of the Board of Directors of the Company due to increased work commitments in Australia. The Board of Directors will look to fill the vacancy in the coming months.


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