IGO Unit to Proceed With Second Stage Farm-In with Venus Metals Unit for Western Australia Project

MT Newswires Live12-12

An IGO (ASX:IGO) subsidiary elected to proceed with the second-stage farm-in exploration at the Bridgetown-Greenbushes project in Western Australia under an agreement with a Venus Metals' (ASX:VMC) unit, according to a Friday filing with the Australian bourse.

Under the stage two farm-in period, which involves a AU$3 million expenditure commitment, the IGO subsidiary can earn a further 19% legal and beneficial interest in the project, the filing said.

The IGO subsidiary currently holds a 51% interest in the project and associated tenements, while the Venus Metals subsidiary owns a 49% stake, per the filing.

IGO shares rose 1% in afternoon trade on Friday, while Venus Metals shares were up 3%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment