TSXV: MMM
OTCQB: MGHCF
FSE: MI5
VANCOUVER, BC, Aug. 17, 2020 /CNW/ - Minco Capital
Corp. (the "Company" or "Minco Capital") (TSXV: MMM) (OTCQB:
MGHCF) (FSE: MI5) reports that the Company has engaged Durose Asset
Management Inc. ("DAMI") as its financial advisor to manage its
gold and other precious metals investment portfolio. DAMI is a fund
manager, portfolio manager and an exempt market dealer registered
in the Province of Ontario,
Canada. The founder of DAMI, Mr. Michael Durose, was a senior mining analyst and
advisor to investment funds principally with Morgan Stanley, UBS
Canada, Nesbitt Burns (now BMO
Capital Markets), and Scotia Capital. Mr. Durose has visited and
analyzed gold mines and gold mining companies throughout the world
and has developed a strong industry network. Mr. Durose was an
independent director of the Company during the last three years. In
connection with DAMI's role as a financial advisor to the Company,
Mr. Durose recently stepped down as a Director to avoid any
conflict of interests.
"We are pleased to engage DAMI as our financial advisor to
manage our precious metals portfolio. Michael has strong expertise
and networks in the global mining markets, particularly in gold
investments," commented Dr. Ken Cai,
Chairman and CEO of Minco Capital. "Michael will work closely with
the Minco Capital team to build up a solid investment portfolio in
precious metals with the goal of creating exceptional value for our
shareholders."
Minco Capital currently has approximately $11,000,000 in cash and investment holdings and
the Company doesn't have any debt. The Company has purchased and
cancelled 2,676,500 common shares under a Normal Course Issuer Bid
Program. With 48,056,881 issued and outstanding shares, the Net
Asset Value of the Company is approximately $0.23 per share.
Minco Capital is a diversified investment issuer focused on
mineral resources, particularly gold and other precious metals.
Besides cash and other investment holdings, the Company holds 11
million shares of Minco Silver Corporation ("Minco Silver"),
representing approximately 18% of Minco Silver's issued and
outstanding share capital.
For more information on Minco Capital, please visit the website
at www.mincocapitalcorp.com, or contact Jennifer Trevitt at (604)-688-8002 or
pr@mincomining.ca.
On behalf of the Board of Directors
Dr. Ken Cai
Chairman and CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Minco Capital Corp.
