MetalsTech Ltd (AU:MTC) has released an update.
MetalsTech Limited has announced the advancement of their strategic process as the condition concerning the underground mining activity permit for the Sturec Gold Mine has been met, satisfying a key requirement of Trans Metal Fund’s US$81 million acquisition offer. Shareholders stand to benefit from an upfront cash payment, a subsequent payment upon the mine’s permit grant, and the option for MetalsTech to convert a royalty into a lump sum following commercial production.
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