Universal Resources to be renamed: Altona Mining Limited (ASX: URL). Altona Mining Limited (Altona) is the result of a merger of ASX listed base metal companies; Vulcan Resources Limited and Universal Resources Limited. The company has two major copper assets. Altona has a clear strategy to build a profitable copper business producing from multiple mines in historic major copper mining camps.
The Company expects to commence production in 2011 and is targeting production of in excess of 40,000t of copper annually by 2014 with significant additional gold, zinc, nickel and cobalt credits. With two high quality advanced stage copper projects (Outokumpu in Finland and Roseby near Mt Isa in Queensland), over 1Mt of contained copper in Resources, near-term production, and a strong balance sheet, Altona is poised to deliver significant shareholder value.
Mining CompanyCopper, aluminum, lead, nickel, tin, zinc, cobalt
Altona Mining Looks to Raise $70 Million
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