MDD - Mandalong Resources

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Mandalong Resources Limited (MDD) has entered into an agreement pursuant to which it has acquired initial 20% interest in the Bethanga Project (Acquisition Agreement). The Bethanga Project is located in north eastern Victoria, approximately 15 kilometres east of Albury. Pursuant to the Acquisition Agreement, the Company has the right to earn a further 70% interest (for a total 90% interest) in the Bethanga Project.

The Company proposes to complete geological mapping and surface sampling, followed by a mix of geophysical surveys and aircore/RC drilling to test known targets as well as anomalies defined through the geophysical surveys.

http://www.mandalongresources.com.au

 

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On September 28th, 2018, Mandalong Resources Limited (MDD) was removed from the ASX's Official List in accordance with Listing Rule 17.12.

ASX Limited formed the view that it was appropriate to remove MDD from the Official List having regard to the following factors:

1. Ongoing breaches by MDD of its periodic reporting obligations under Chapter 4 of the Listing Rules.
2. In ASX's opinion, MDD no longer has a level of operations, and MDD's financial condition is no longer adequate, to warrant its continued listing, resulting in a breach of Listing Rule 12.1 and 12.2.
3. The ongoing failure of MDD to spend its funds or carry out activities in line with the disclosure in its prospectus.