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Toyota Tsusho and Matamec Move Closer to JV Agreement

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Mineweb reported that Toyota Tshusho (TSE:8015) and Matamec (TSXV:MAT) are getting closer to a joint venture regarding the Quebec-based Kipawa project.

Mineweb reported that Toyota Tshusho (TSE:8015) and Matamec (TSXV:MAT) are getting closer to a joint venture regarding the Quebec-based Kipawa project.

As quoted in the market news:

In a Monday update Matamec said both parties agreed they would consider the MOU binding as of February 28, 2012. Matamec also said it had received C$1.5 million from Toyota as part of agreed amount for re-imbursement of certain Kipawa project costs it has incurred since December.

Click here to read the full Mineweb report.

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