Alloy Capital Corp. Announces Letter of Intent for Acquisition of Lancaster Exploration Ltd.
Investing News Network - August 30th, 2010
Alloy Capital Corp. (CVE:AYL.P) announced that it has entered into a letter of intent dated August 16, 2010 to acquire, directly or indirectly, Lancaster Exploration Limited.
Alloy Capital Corp. (TSXV:AYL.P) announced that it has entered into a letter of intent dated August 16, 2010 to acquire, directly or indirectly, Lancaster Exploration Limited.
The press release is quoted as saying:
Lancaster’s primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi. Lancaster holds a 100% interest in an exclusive prospecting license over an area of 1,283 km2 in southeast Malawi.