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West Melville Metals (TSXV:WMM) Begins Trading on the TSX Venture Exchange - Video Summary Posted on

July 24, 2012 - Vancouver

Vancouver based West Melville Metals (TSXV:WMM) is one of the latest new listings on the TSX Venture Exchange. Haywood Securities acted as the lead underwriter for their IPO, which consisted of 8,000,000 common shares at a price of $0.50, and 2,822,727 flow-through common shares priced at $0.55, for total gross proceeds of approximately $5.6 million. has produced a "video news alert" about West Melville Metals. If this link is not enabled, please visit and enter "West Melville" in the search box.

West Melville is an iron ore and specialty metals exploration company working to advance the Fraser Bay iron ore project in Nunavut and the Isortoq iron-titanium-vanadium project in Greenland.

The Fraser Bay project, located 15 kilometres from tidewater and 16 kilometres from an airstrip, has potential for significant high-grade direct ship iron ore, which provides opportunity for quick entry to cash flow. The company has budgeted $1.5 million for this year's program which includes establishing Project infrastructure, such as building a 25 person camp at the Mackar Inlet Airstrip. The company will complete detailed geological mapping of the Project area, and an extensive channel sampling program, with results expected in the 4th quarter of 2012.

The Greenland iron-titanium-vanadium Isortoq project also has favorable logistics, including an ice-free deep water ocean inlet and just 70 kilometres from the Narsarsuaq International Airport. The company has budgeted $1.8 million which includes expanding camp facilities to accommodate a 25 person exploration crew. Other work will include complete 2,500 metres of drilling to confirm historical results and to commence a systematic evaluation of the economic potential of the project.

Earlier non NI 43-101 compliant numbers showed an estimated in-ground tonnage potential of 500 million tonnes to 1.18 billion tonnes.

The company also plans to expand the licence area to coverthe potential extension of mineralization to the south-west, and complete metallurgical and market studies.

John Robins, Chairman of West Melville stated "We are pleased to announce the closing of our IPO and commencement of trading for the company. This milestone represents the culmination of the dedicated efforts of our management team and support staff."

West Melville Metals' initial trades were at the $0.50 issue price, and with approximately 33 million shares outstanding, the companyis capitalized at $17 million.

For more information, please visit their website or contact investor relations at +1-604-646-4527 or email

West Melville is one of the Aurora Resource Group of companies. For more information please visit ., a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investorsand financial professionals, specializes in producing short three minute videos based on news releases and research reports.

Barry Morgan, CFO

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Source: InvestmentPitch via Thomson Reuters ONE

Copyright 2012 ACN Newswire. All rights reserved.

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