Acquisition of 100% of Benmara Project
Adelaide, Nov 11, 2021 AEST (ABN Newswire) - Resolution Minerals Ltd (
ASX:RML) (NC3:FRA) is pleased to advise that the Company has elected to acquire 100% of the Benmara Project from Strategic Energy Resources Limited (SER) - see initial announcement on 15 December 2020.
The consideration for the final stage of the agreement of outright purchase of the Benmara Project (EL32228) comprises a payment of $250,000 in RML shares or cash, at RML's election. Resolution has elected to make payment via the issue of 13,773,778 shares as approved by shareholders at today's Annual General Meeting. The number of shares has been calculated using the VWAP over the 5 day period prior to RML's election to proceed. The consideration shares will be issued on 12 November 2021.
About Resolution Minerals Ltd
Resolution Minerals Ltd (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
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