MINING MARKET & INVESTMENT NEWS — Mispec completes property deal

At a special meeting in mid-August, shareholders of Mispec Resources (MPE-M) voted to issue 20 million shares, thereby boosting ownership of the company’s Indonesian gold properties.

Once completed, Mispec will hold a 90% interest in the Jampang Block and Jampang East properties and 85% of the Pongkor property. The properties are all situated in West Java.

At the same time, Mispec announced plans to raise $750,000 by way of a private placement in return for 3 million shares at 25 cents per share and 1.5 million share purchase warrants. The warrants entitle the holder to buy one share at the same price for up to a year.