Western Manganese Limited (ASX:WMN) Executes Legally Binding Agreements with Borneo Brothers Limited
Sydney, Nov 21, 2011 AEST (ABN Newswire) - Western Manganese Limited (ASX:WMN) is pleased to announce that it has executed the following agreements with Borneo Brothers Limited ("BBL") which legally bind the transaction pursuant to the Heads of Agreement ("HOA"), previously announced on 21 October 2011:
- Option Sale and Purchase Agreement for the option to buy 51% of the issued shares of PT Genesis Berkat Utama, a manganese concession with IUP Production license in Toli Toli, Central Sulawesi.
- Investment Agreement between BBL and WMN.
These agreements are subject to Shareholder approval. Details of the Shareholder meeting will be announced shortly.
Contact
Colin K Locke
Executive Chairman
Email: locke@westernmanganese.com
http://www.westernmanganese.com
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