Anglo Asian Mining plc (AIM:AAZ), the gold, copper and silver producer with operations in Azerbaijan, has announced that it has made another strategic investment in Libero Copper Corporation (TSXV:LBC). The London-listed miner has purchased an additional 4.3 million common shares of Libero at a price of CAD$0.45 per share, through a private placement.
The total investment amounts to CAD$1.9 million (approximately £1.1 million). This investment takes Anglo Asian Mining’s total stake in Libero to 8.5 million common shares, representing approximately 8.6% of the issued and outstanding common shares of the Canadian junior exploration company.
Libero is focused on the exploration and development of copper-gold-silver deposits in the Americas. The company’s main asset is the Cangalli copper-gold-silver project in Argentina, which is located in the Andean Cordillera, in the province of San Juan, at an elevation of 3,500 metres above sea level. The project comprises four mineral concessions covering an area of 5,935 hectares. Libero has completed two drill programmes at Cangalli, with the first programme consisting of three diamond drill holes, and the second programme consisting of eleven diamond drill holes.
Commenting on the investment, Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, said: “We are delighted to have made this strategic investment in Libero. We believe that the Cangalli project has significant potential and we are looking forward to working with the Libero team to unlock its value.” He added: “This investment further demonstrates our commitment to investing in high-quality assets in the copper and gold sectors. We are confident that this investment will create value for our shareholders in the long term.” The proceeds of the private placement will be used by Libero to fund its exploration and development activities at the Cangalli project, including drilling, metallurgical studies and other technical studies. The investment is subject to the approval of the TSX Venture Exchange and other customary closing conditions.
Anglo Asian Mining is a gold, copper and silver producer with a broad portfolio of production and exploration assets in Azerbaijan. The company has a primary listing on the London Stock Exchange’s AIM market, and a secondary listing on the Baku Stock Exchange. Libero Copper is a Canadian junior exploration company focused on the exploration and development of copper-gold-silver deposits in the Americas. The company’s main asset is the Cangalli copper-gold-silver project in Argentina. Libero is listed on the TSX Venture Exchange.
