Drilling program in Mt. Isa commenced
Heidelberg. Deutsche Rohstoff AG (DRAG) acquired further 2 million shares of Hammer Metals (in the amount of AUD 150,000) at a share price of 7,5 cent per share from another shareholder. In addition, an option to purchase an additional 2 million shares at 10 cents per share was agreed on. This option can be exercised by DRAG within six months. With the shares currently purchased, Deutsche Rohstoff now holds 17,625 million shares (17,3%) of the capital of the company. 20% of that share are indirectly held by DRAG’s Australian subsidiary SRD (Strategic Resources Development). Simultaneously to DRAG, the management of Hammer Metals took over the same amount of shares from the seller. With this purchase, DRAG is now the largest shareholder of Hammer Metals.
Meanwhile, the announced exploration program within the highly prospective license areas around the Mt. Isa region in Queensland/Australia is well underway. The first results of the geophysical surveys are available. They form the basis for the decisions of the drilling targets for the upcoming drilling program, which will commence this week and should bring results until May. A detailed description of the results so far and the planned program have been published by the company in a press release:
Heidelberg, 24 March 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in political stable countries with high environmental standards. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de.
Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. +49 6221 871 000