West Australian gold explorer Focus Minerals (ASX: FML) has signed a three-month extension of the Exclusivity Deed with Intermin Resources (ASX: IRC) for the potential sale of the Coolgardie Gold Project for $40 million in cash and Intermin shares payable over 3.5 years.
West Australian gold explorer Focus Minerals (ASX: FML) has signed a three-month extension of the Exclusivity Deed with Intermin Resources (ASX: IRC) for the potential sale of the Coolgardie Gold Project for $40 million in cash and Intermin shares payable over 3.5 years.
HIGHLIGHTS
· Focus and Intermin extend the Exclusivity Deed for the potential sale of the Coolgardie Gold Project for A$40 million by three months
· Focus continues strategic focus on expediting the development of the 100% owned Laverton Gold Project
This extension will allow Focus and Intermin to finalise formal documents for the Proposed Transaction and secure all necessary approvals to complete it. Both parties remain fully committed to completing the Proposed Transaction. However, there is no assurance that the Proposed Transaction will proceed.
Focus will continue to update shareholders in accordance with its continuous disclosure obligations. In the meantime, Focus continues its efforts to establish a high-quality, long-life operation at the Laverton Gold Project, where an extensive diamond and reverse circulation (RC) programmes are underway to increase the Company’s gold resource base.
