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The Biggest Mining group is expanding gold and base metal

The big Mining group is expanding gold and base metal tenement, as well as its global footprint, with the acquisition of its first offshore project, the Comval Project in the Philippines.

This mining company exited a trading halt this morning to announce it has signed a binding Heads of Agreement with Cadan Resources Corporation (TSX-V: CXD) to acquire an 80 percent interest in the Comval Project, which is prospective for copper and gold.

This acquisition has the potential to transform the Mining Group, as the Comval Project is located within the East Mindanao Ridge, which is a world class copper-gold province.

Mining Group is a newly listed gold, base metals and uranium mineral exploration and development company with three prospective projects in Western Australia.

The company listed on the ASX at the beginning of July with a positive debut after raising $2.5 million for the exploration of its Western Australian projects, and for the identification and evaluation of complementary projects.During the September 2011 quarter, Mining Group commenced field exploration at its Boorara and Teutonic Projects.