West Australian junior Marengo Mining Ltd is living proof that market confidence in mineral projects in Papua New Guinea has well and truly returned. Since announcing its intention to change its exploration focus from Australia to PNG during early 2005 the company's share price has more than doubled and - during one brief spike - even managed to treble in value. Late last year Marengo proved investor sentiment for the Pacific Rim country was again favourable when it successfully completed a 6 million dollars share placement to help the junior advance its two major PNG projects - the Yandera copper-molybdenum-gold play near the Ramu nickel-cobalt mine on the mainland and the less developed Bolubolu gold epithermal target on Goodenough Island.
展开▼
