From the rats report last night MNE - Metallum Limited today...

From the rats report last night

MNE - Metallum Limited today clkosed up 33% to finish at 3.2c on $5000k stock trafed. The reason they are up today is because they made an announcement about an acquisition and a small capital raising that my broking mate Malcolm Fraser had a little bit to do with.

Metallum (ASX:MNE) has just done a deal to acquire the Kopore Copper Project in Botswana which looks to be a very prospective tenement package in the Kalahari Copper Belt, directly alongside MOD Resources.

It appears Metallum is taking advantage of a new wave of demand for copper with copper prices rising above US$3/lb and at multi-year highs.

Over the last 18 months MOD Resources has been the darling of the Kalahari and its relatively few listed pure play copper peers, rising from some $5 million in market cap to around $125 million today.

The work MOD has done has helped to established a new interpretation of the southern Kalahari Copper Belt which has unveiled significant prospectivity in the region with structural trends extending directly into Kopore’s ground.  With a very low enterprise value on completion and $3 million to undertake some serious exploration, the sky is the limit should the interpreted geology at Kopore prove to result in a copper discovery.

The Kopore acquisition will be finalised in mid October subject to Metallum shareholder approval and the Company has announced plans to bring in new management and change its name to Kopore Metals Limited.