Spectrum Metals Ltd (ASX:SPX) managing director Paul Adams speaks to Proactive Investors about the exploration company’s gold strategy and work towards bringing the historic First Hit Gold Mine back into production.
The mine was last operated in December 2002 by Barminco Pty Ltd and Barra Resources Ltd (ASX:BAR) and includes substantial underground mining infrastructure. Spectrum’s immediate focus will be to develop a drilling program targeting extensions of high-grade drill intercepts at the near-term development opportunity.
The company has also raised $600,000 at 0.4 cents a share for 150 million shares, with funds to be used for exploration and development of its Western Australian assets.
