https://www.miningweekly.com

Trek acquires Gabon project from Battery Minerals

11th January 2018

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Trek Metals has acquired 100% of the Kroussou zinc/lead project, in Gabon, from fellow-listed Battery Minerals for $400 000 in cash and securities.

A deferred consideration of options and shares totalling $2.5-million, which had been agreed in a binding term-sheet, will be subject to a mineral resource of 250 000 t of zinc/lead metal estimated on the project.

Battery Minerals will retain a 2.5% net smelter royalty subject to a 1% buyback option by Trek.

“The Kroussou zinc/lead project presents a truly magnificent opportunity for Trek to grow substantially with the potential for the discovery of a very significant zinc/lead orebody in Gabon. The price of zinc is continuing to appreciate near record levels and we are poised to take full advantage at this time,” said Trek MD Bradley Drabsch.

Trek had already been in the process of earning 70% of the project.

Exploration at the asset is continuing, with drilling expected during the second quarter of the year.

Edited by Creamer Media Reporter

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.211 0.246s - 112pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: