Company has a high tolerance for working in more challenging jurisdictions
Philippines copper-gold aspirant RTG is in a trading halt as it seeks to raise circa A$20 million for its Mabilo development with Glencore.Pricing is understood to be at 2.5c per new share.Shares in RTG were last traded at 2.
6c, at which price the company was capitalised at about $44 million.Mabilo is being initially developed as a DSO operation starting in the second half of the year and targeting circa 100,000t of supergene chalcocite grading 21% copper.RTG holds a 40% interest in Mt Labo, which in turn owns Mabilo.Earlier this month, Mt Labo entered a strategic partnership with Glencore for financing and offtake of 100% of the DSO development.The project is understood to be capable of generating near-term net cashflow of US$145 million.The plan is for a conventional project development to follow the DSO operation.The Justine Magee-led RTG also holds 90% of the high-grade Chanach gold-copper asset in Kyrgyz Republic.It is also trying to position itself for a potential role in redeveloping the massive Panguna/Bougainville copper project in Papua New Guinea.Market-wise, the company has been struggling since late 2020 when it was trading above 20c.
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