Argentina Mining Limited (AML) this week released its Initial Public Offering Prospectus

Nov. 3, 2010 - PRLog -- Western Australia based Argentina Mining Limited (AML) this week released its Initial Public Offering Prospectus to raise funds to explore its prospective gold and copper exploration properties in San Juan Province, Argentina.  

The Company is seeking to raise a minimum of $5 million at 20 cents per share, with up to $1 million oversubscriptions.  For each two shares subscribed for, the Company will attach a free option exercisable at the IPO offer price of 20 cents and which will expire four years from the date the Company lists on ASX.

AML is exploring a suite of Andean copper and gold properties in Argentina’s Andean province of San Juan.  The company plans to commence drilling at its flagship Cerro Blanco porphyry copper-molybdenum-gold project in early 2011.  Previous exploration of the large altered and mineralised system at Cerro Blanco intersected copper and molybdenum sulphides in limited drilling.

Managing Director Eduardo Videla is an Argentinean-Australian geologist who moved to Perth 15 years ago.  Mr Videla spent 10 years as an executive of a leading mining software company during which time he worked on many mineral resource estimation projects worldwide.  He has also worked on the team that discovered the Veladero gold deposit in San Juan in the early nineties.

Exploration expenditure in Argentina’s San Juan Province has risen significantly in recent years with the development of Barrick Gold Corp’s Veladero-Pascua Lama gold mining complex, which has combined published reserves of 30 million ounces of gold.  Other large mining projects developed in San Juan include Yamana’s Gualcamayo gold mine, Troy Resources Casposo gold mine and Xstrata’s El Pachon copper project.  

Argentina Mining Limited’s Prospectus may be viewed on the Company’s website at: www.argentinamining.com.au.

The offer of securities is made in the Prospectus.  Any person interested in investment in the Company should consider the information set out in the Prospectus in deciding whether to acquire the securities.  Anyone who wishes to acquire the securities will need to complete the application form that accompanies the Prospectus.

ENDS

For further information contact:

Lead Manager for the Offer, Martin Place Securities Pty Ltd, +61 2 9222 9111, Attention: David Grimes

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Western Australian based Argentina Mining Limited this week released its Initial Public Offering Prospectus to raise funds to explore its gold and copper exploration properties in San Juan Province, Argentina.
Prospectus:www.argentinamining.com.au