FYI Resources Begins JV Negotiations for Laos Potash Production

FYI Resources (ASX:FYI) reported that it will advance discussions with China’s Yuntianhua Group regarding a joint venture for development of the Sino-Lao potash project. The companies signed an MOU regarding the project on February 9.
As quoted in the press release:

The transaction is conditional upon FYI completing its current due diligence to its satisfaction by 31 May 2016 and obtaining all necessary shareholder and regulatory approvals.
Both FYI and Yuntianhua have agreed to use reasonable endeavours to negotiate, finalise and execute the proposed formal joint venture agreement.
FYI will keep the market informed as the Company moves towards finalisation of the joint venture terms and completion of the transaction.

Click here for the full press release.