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CMC Metals: Letter of Intent Signed for a Joint Venture
Dec. 02, 2010 01:30PM PST
Base Metals Investing CMC Metals(CVE:CMB) reports it has signed a Letter of Intent with Pruett Ballarat Inc. (PBI), a Nevada mine developer, to progress mine and mill developments in California and Nevada.
The press release is quoted as saying:
The LOI states the principles to guide the transition to a Joint Venture (JV) agreement. A $20,000 initial payment was incurred on signing the LOI, and an additional payment of $30,000 will be required on or before signing the final JV agreement.
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