Tungsten Mining buys Hazelwood assets
PERTH (miningweekly.com) – ASX-listed Tungsten Mining has agreed to acquire the Australian tungsten exploration assets of Hazelwood Resources, including the Mt Mulgine and Bug Hill projects.
The projects jointly represent a tungsten inventory of 88.2-million tonnes, at 0.17% tungsten, for more than 150-million tonnes of contained tungsten.
Under the terms of a letter of intent inked this week, Tungsten Mining would acquire the project areas for A$1-million in cash and the issue of five-million fully paid ordinary shares.
The shares would be subject to a 12-month voluntary escrow period.
The completion of the sale and purchase agreement would be subject to the completion of a due diligence investigation.
Tungsten Mining said on Monday that the board would also assess future funding requirements in conjunction with the due diligence process, including refining the broader strategic plan for the company, as well as defining work programmes and budgets for the newly acquired projects.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation