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Further to its earlier announcement that the Company has entered into a strategic partnership with Beijing AXHA Investment Co., Puget Ventures (TSXV:PVS) announced that it has accepted the recommendation of Anhua to sign an MOU with China Aluminium International Engineering Corporation Limited as EPC contractor for the Karakul Cobalt Project in Altai, Russia upon completion of the Company’s previously-announced acquisition of Pafra Enterprises Company Limited.
Further to its earlier announcement that the Company has entered into a strategic partnership with Beijing AXHA Investment Co., Puget Ventures (TSXV:PVS) announced that it has accepted the recommendation of Anhua to sign an MOU with China Aluminium International Engineering Corporation Limited as EPC contractor for the Karakul Cobalt Project in Altai, Russia upon completion of the Company’s previously-announced acquisition of Pafra Enterprises Company Limited.
As quoted in the press release:
The potential engagement of CHALIECO results from the previously-announced MOU between the Company and Anhua. Pursuant to that MOU, Anhua was entitled to select an EPC contractor for the Karakul project agreeable to the Company, and will arrange the financing for the engagement of such EPC contractor, subject to the Company issuing common share purchase warrants to Anhua, and providing security with respect to such financing in the form of a pledge of the mining rights underlying the Karakul project or the shares of the Russian entity holding such rights.
Click here to read the Puget Ventures (TSXV:PVS) press release
