MTM (ASX:MTM) to acquire 100% of Flash Metals Pty Ltd, owner of three exploration licences in Western Australia’s West Arunta region, immediately adjacent to ground held by WA1 Resources (ASX:WA1).
DEAL OVERVIEW
MTM has agreed to pay Flash:
- A non-refundable $10,000 fee (which has previously been paid).
- *100 million fully paid ordinary shares of MTM and 50 million MTMO quoted options;
- *37m performance rights and 15m unquoted options with an exercise price of $0.25 and an expiry date of 30 December 2026 vesting equally across 3 milestones:
- Drilling results of >10m at > 1,000ppm total rare earth oxide (“TREO”) and/or
- >0.5% Nb2O5;
- JORC inferred resource of > 10MT at > 1,000ppm TREO and/or >0.5% Nb2O5
- JORC inferred resource of >20MT at > 1,000 ppm TREO and/or >0.5% Nb2O5
Click here for the full ASX Release
This article includes content from MTM Critical Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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