Pacific Wildcat Resources Sells Mozambique Tantalum Project
Pacific Wildcat Resources (TSXV:PAW) has sold its Muine tantalum mine in Mozambique to an arm’s length private Seychelles’ company Novak Holdings Limited.
Pacific Wildcat Resources (TSXV:PAW) has sold its Muine tantalum mine in Mozambique to an arm’s length private Seychelles’ company Novak Holdings Limited.
As quoted in the press release:
The transaction is subject to conditions precedent, customary to a transaction of this type including but not limited to, regulatory approval as well as the release of the security on the asset as previously granted to European Projects Products and Services International Limited.
Pacific Wildcat chairman Don O’Sullivan stated:
The sale of the TMPL allows the Company to look for new opportunities and reduces the Company’s working capital requirements. The PAW team is currently actively looking at other assets and will update the market in due course.