Brief: Medallion Metals Says Co And IGO Entered Exclusive Negotiations On Forrestania
08/08/2024 02:25
Aug 8 (Reuters) - Medallion Metals Ltd MM8.AX :
* ASX ALERT-MEDALLION & IGO ENTER EXCLUSIVE NEGOTIATIONS ON
FORRESTANIA,IGO-MM8.AX
* NEGOTIATING A POTENTIAL TRANSACTION WHEREBY MEDALLION
ACQUIRES
CERTAIN ASSETS OF FORRESTANIA NICKEL OPERATION
* CO AND IGO LIMITED HAVE ENTERED INTO AN EXCLUSIVITY
AGREEMENT
* CONSIDERATION PROPOSED TO COMPRISE UPFRONT CASH TO A
MAXIMUM OF
A$15 MILLION
* AGREEMENT REGARDING NEGOTIATING A POTENTIAL TRANSACTION
WHEREBY
MEDALLION ACQUIRES CERTAIN ASSETS OF FORRESTANIA NICKEL
OPERATION
* TOTAL CONSIDERATION TO BE CAPPED AT A$50 MILLION.
* MEDALLION AND IGO TO NEGOTIATE ACQUISITION OF GOLD AND
SILVER
RIGHTS ACROSS BROADER FNO TENURE ON A NON-EXCLUSIVE BASIS
Source text for Eikon: ID:nASX94FFPj
Further company coverage: MM8.AX
((Reuters.Briefs@thomsonreuters.com;))
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