Thundelarra to Sell East Kimberley Nickel Assets to Panoramic Resources

Thundelarra Ltd. (ASX:THX) announced yesterday that it has agreed to sell its remaining interest in the Australia-based Copernicus and East Kimberley joint ventures to Panoramic Resources Ltd. (ASX:PAN) for AU$800,00 in cash.

As quoted in the press release:

This transaction is the culmination of discussions that were first contemplated over 12 months ago.

The interests include Thundelarra’s ~22% of Copernicus, a small open pit nickel sulphide deposit that has been on care and maintenance since 2008; and ~31% in a number of regional exploration licences around Panoramic’s Savannah nickel operations.

The sale is conditional on ministerial consent under the Mining Act to the transfer of Thundelarra’s interest in the Copernicus mining lease.

Click here to read the full Thundelarra Ltd. (ASX:THX) press release.