MDN Signs Option Agreement with Metalinvest

MDN Inc. (TSX:MDN), an exploration company that focuses on tantalum, announced that it has signed an agreement which grants Metalinvest Capital Corporation an option to acquire 55% undivided interest in the prospecting licenses of the Ikungu property.

As quoted in the press release:

To acquire such 55% undivided interest in MDN’s interest in the Ikungu property, Metalinvest must incur $14 million in exploration expenditures over a four-year period, including at least $3 million by December 31, 2013. Metalinvest may accelerate exploration spending at its discretion. MDN will manage the exploration work.

Click here to read the full MDN Inc. (TSX:MDN) press release.