Brief: Consolidated Zinc Enters Into Binding Agreement To Sell Plomosas Project

Impact Silver

10/02/2023 24:28

Feb 10 (Reuters) - Consolidated Zinc Ltd  CZL.AX :
    * ENTERS INTO BINDING AGREEMENT TO SELL PLOMOSAS PROJECT
    * INITIAL CONSIDERATION VALUED AT US$6 MILLION FOR BINDING
AGREEMENT
    * BINDING SHARE SALE AGREEMENT SIGNED FOR SALE OF PLOMOSAS
PROJECT
TO IMPACT SILVER CORP.
    * DEAL ALLOWS RETENTION OF UPSIDE EXPOSURE TO PLOMOSAS
THROUGH
SHARES TO BE HELD IN IMPACT SILVER,12% NET PROFIT INTEREST
ROYALTY 
    * TRANSACTION TO FOCUS ON EXPLORATION FOR LITHIUM AND RARE
EARTH
METALS, AMONG OTHERS  AT PILBARA AND GASCOYNE PROJECTS
    * AT COMPLETION, IMPACT SILVER WILL ACQUIRE 100% OF MINERA
LATIN
AMERICAN ZINC, CO'S UNIT THAT OWNS PLOMOSAS PROJECT
    * CO INTENDS TO CONTRIBUTE US$3 MLN CASH PROCEEDS FROM DEAL
TOWARDS EXPLORATION ACTIVITIES AT ITS PILBARA AND GASCOYNE
PROJECTS 

Source text for Eikon:  ID:nASX1gvDQv 
Further company coverage:  CZL.AX 
 ((Reuters.Briefs@thomsonreuters.com;))