Ann: Metminco to merge with Andes Resources, page-13

I actually can't believe they've pulled off something this big, especially after the Solomons!

I'll go through every detail later today/tonight but some parts that are jumping out are:

  - MNC and Andes are merging
  - Will own a massive portfolio within 30km's of 40Moz Gold
  - Sandfire Reources (SFR) to become Major holder of MNC (currently own ~20% of Andes)
  - Andes (and new MNC) Directors to become Major holders of MNC (currently own 25% of Andes)
  - Raising $4m cash
  - Chuscal to be drilled shortly
  - RMB payment to be settled via $2.5m in shares
  - Andes tenements right next to Nick's/Anglo's massive $40B+ Nuevo Chaquiro discovery (one gold/copper porphyry target is 22km's away)
  - Consolidation to occur once everything is finalised (share price will be 6c+ per share and ~200 million share on issue)

Cheers,

GB.