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ASX- and TSX-listed explorer Xanadu has begun a prefeasibility study on its flagship Kharmagtai copper-gold project in Mongolia and completed phases two and three of its strategic partnership with Chinese copper giant Zijin Mining.
The deal takes Zijin’s shareholding of Xanadu to 19.42%.
"We are pleased to have money in the bank and the PFS activities underway," Xanadu's executive chairman and managing director, Colin Moorhead said.
Xanadu Mines has been transformed by an investment from Zijin Mining
Capstone Copper sees peak inflation
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