Shareholders' open day for exploration firm Minmet

International mining and exploration company Minmet, which is listed on the Exploration Securities in Dublin is to hold an informal investors' open day with five other associated international mining companies on May 6.

Its aim is to give an insight into the companies, their strategies and their management teams.

Minmet will be joined by fellow Dublin ESM-listed company Ovoca Resources plc, Lapp Plats plc, GoldQuest Mining Corp, OuroQuest Americas and International Gold Exploration.

Ovoca, in which Minmet has a 22% equity stake, is a junior exploration company with a focus on base and precious metal projects in Sweden, particularly along the Gold Line and in Ireland.

Minmet Chief Executive Michael Nolan said today: "We have come a very long way in the last year.

"We have emerged as an established gold producer and, as reported in our recent results, have staged a strong turnaround from a loss of $18.7m (€15.74) in 2002 to a pre-tax profit of $0.54m (€0.45m) in 2003.

"We have crystallised a number of our exploration properties through our stratlets policy of leveraged spin-offs and joint ventures network of associated companies.

"These will also be present at the open day, which we hope will provide further visibility to the Minmet story and its exploration partners."