Focus Minerals (ASX: FML) says it continues to work cooperatively with Intermin Resources (ASX: IRC) towards completing a proposed sale of the Coolgardie gold project. However, addressing weekend media reports, Focus stressed that no binding sale agreement had been entered into at this stage. Focus announced a month ago that it and Intermin had entered into an exclusivity agreement, to run for five months, to finalise documentation and seek all relevant approvals for the sale of Coolgardie to Intermin.
Focus Minerals Limited (ASX: FML) refers to an article in the West Australian on 9 March 2019 discussing the potential sale of the Company’s Coolgardie Gold Project.
As disclosed to the ASX on 11 February 2019, Focus and Intermin Resources Limited (ASX: IRC) entered into an exclusivity agreement which provided a five-month exclusivity period for the parties to finalise formal documentation and obtain all necessary approvals in relation to the Proposed Transaction.
Focus wishes to clarify that at this stage no binding sale agreement has been signed with Intermin. Focus and Intermin are continuing to work cooperatively to advance the potential transaction.
However, there is no guarantee a binding sale agreement will be executed or completed. Focus will update shareholders as and when appropriate.