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Montero Mining and Exploration ( (TSE:MON) ) has issued an update.
Montero Mining and Exploration Ltd. has announced shareholder approval for a return of capital through a cash distribution of C$15,036,892.50, stemming from a settlement with Tanzania. This distribution, amounting to C$1.80 per share, will be paid to shareholders and is significant enough to require special trading rules on the TSX Venture Exchange. The distribution is contingent on final approval by the exchange, and the trading of shares will be affected during the specified period, impacting shareholders and potential buyers.
More about Montero Mining and Exploration
Montero Mining and Exploration Ltd. is a Canadian exploration company focused on mineral development in emerging markets. The company recently settled a US$27 million dispute with Tanzania over the expropriated Wigu Hill rare earth project. Montero holds the Avispa copper-molybdenum project in Chile and is advancing it through exploration. The company is listed on the TSX Venture Exchange and has a strong track record in discovering and developing precious and base metal projects.
Average Trading Volume: 26,126
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$15.62M
Find detailed analytics on MON stock on TipRanks’ Stock Analysis page.