https://www.miningweekly.com
Projects|Resources
Projects|Resources
projects|resources

Pursuit settles asset sale

17th May 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior explorer Pursuit Minerals has settled the sale of its Scandinavian assets to LSE-listed Kendrick Resources for A$3.1-million.

Pursuit at the start of last year struck an agreement with Kendrick, which was at that point an unlisted company, to divest of its nickel and vanadium projects in Norway, Sweden and Finland.

With the transaction now settled, Pursuit will be issued A$2.35-million in Kendrick shares, amounting to 37.9-million shares in the company, with 36% of the shares to be free trading, while the balance would be free trading over 18 months, in three equal tranches.

Pursuit will also receive A$250 000 in cash on the completion of a bankable feasibility study on any of the Scandinavian projects demonstrating an internal rate of return of no less than 25%, and a A$500 000 payment upon a decision to mine at any of these projects.

“Pursuit is very pleased to confirm that Kendrick has settled on the purchase of our Scandinavian projects. The company and its shareholders have the opportunity to participate in the growth of the Scandinavian projects through Kendrick. Pursuit is now fully focussed on its Warrior and Commando projects,” said Pursuit MD Bob Affleck.

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

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:0.125 0.16s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: