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Element 25 Earns AU$1-million in Holleton Project Sale
Oct. 18, 2018 05:37AM PST
Australian manganese developer Element 25 has announced the completion of the sale of its Holleton project has now completed.
Australian manganese developer Element 25 (ASX:E25) has announced the completion of the sale of its Holleton project has now completed. The deal earned Element 25 AU$1 million.
As quoted from the press release:
Pursuant to the sale agreement, EMO has acquired 100 percent of the Holleton project. E25 has received AU$1 million in cash and a 1 percent NSR on all future production from the Holleton project.
The company is pleased with the outcome of this transaction. The cash will provide important working capital whilst the royalty ensures that shareholders will benefit from future exploration success as EMO and RMS roll out their exploration programmes. This transaction represents an important incremental step in the company’s stated strategy to rationalise its project portfolio to allow the technical team to focus on the high purity manganese business at Butcherbird.
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Originally from Calgary, Georgia has been right at home in Toronto for more than two decades. Graduating from the University of Toronto with an honors BA in journalism, she is passionate about writing on diverse topics, including resources, arts, politics and social issues.
At INN Georgia covers a wide range of topics, including energy, battery and critical metals and diamonds. In her spare time, Georgia enjoys watching documentaries and experiencing Toronto's vibrant food, arts and cultural scene.
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Originally from Calgary, Georgia has been right at home in Toronto for more than two decades. Graduating from the University of Toronto with an honors BA in journalism, she is passionate about writing on diverse topics, including resources, arts, politics and social issues.
At INN Georgia covers a wide range of topics, including energy, battery and critical metals and diamonds. In her spare time, Georgia enjoys watching documentaries and experiencing Toronto's vibrant food, arts and cultural scene.
Learn about our editorial policies.