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| About Planet Metals Limited |
Planet Metals (ASX Code: PMQ) is a Brisbane-based ASX-listed mining and exploration company with a focus on tungsten, molybdenum, copper and gold.
Key operations include the Wolfram Camp tungsten-molybdenum project (85% owned) and the Mount Cannindah copper-gold project (100% owned) - both located in Queensland.
The Wolfram Camp project (situated west of Cairns) has a full scale commercial processing plant and equipment under care and maintenance. Planet Metals continues to evaluate the project with a view to returning it to production.
Mount Cannindah (near Gladstone) is a large gold bearing porphyry copper system with a significant resource already delineated. The depth potential of the resource is highly prospective and a drilling programme to test this target commenced in August 2010.
The company's major shareholder is Metallica Minerals Limted (ASX Code: MLM) with a 76% shareholding. As at 30 June 2010, Planet Metals had 59.7 million shares on issue and $1.24 million in cash (effectively no debt).
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