Oct 15 (Reuters) - Metallum Ltd MNE.AX :
* Company update MNE.AX
* Update on its operational and corporate activities following the recent shut down of its mining operations at the el roble project in Chile
* Determined that seeking to raise capital required to improve project economics is unlikely to be successful in this climate
* Says board has now determined that restarting operations in Chile will not be economically beneficial to the company
* Says resolved to seek to dispose its remaining chilean assets and to instead focus on advancing the teutonic project in Western Australia
* Says managing director, zeffron reeves have resigned from the board, effective immediately
* Source text for Eikon ID:nASX5JX8nr