Bell suspends feasibility ahead of share consolidation
1st Jun 2012
JUNE 1 – Bell Copper Corp has suspended the feasibility study on its La Balsa Copper Project in Mexico pending additional funding and announced a 7-for-1 share consolidation.
Directors say the consolidation, to be put to shareholders on June 26, will increase investor interest, improve trading liquidity and improving the company's ability to raise capital at a higher share price. The consolidation will give Bell about 24.8M shares.
La Balsa project has measured/indicated resources of 11.4Mt at an average 0.77% copper containing 88,300t (194.6Mlb) copper metal, using a 0.2% cut. In addition, there is an inferred 0.7Mt at 0.66% containing 4,700t (10.3Mlb) copper.
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