Managing Director’s Summary:
“Proto Resources & Investments Ltd (“Proto” “the Company”) (ASX:PRW) has continued to make strong progress in the September Quarter. Results of the fourth hole of Lindemans Bore, in the Northern Territory, were a highlight where Proto intersected a large alteration system.
The company also added a new director to the board, Mr Andrew Heap, who has been tasked to forward the Barnes Hill project in terms of the Iron Ore as well as the Nickel-Cobalt.
Importantly, Proto completed a rights issue that was well subscribed despite a very difficult market. Further, Proto received many messages of support and positive feedback from the shareholder base as part of this process as well.
Finally, Proto continued its strategic planning process which is mainly focusing on the company’s desire to bring in a large multibillion dollar partner to assist Proto in its ambitious operational agenda. Proto has received approaches from large mining industry organisations and discussions are at a preliminary stage. The addition of the copper nickel platinum group element project (Rosewood) in the Northern Territory was also worked on during the quarter and announced in October.” – Andrew Mortimer.
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