21.8 C
Supported byspot_img

Orsu Metals’ letter of intent for more assets in Russia

Member of Europium Groupspot_img
Supported byspot_img

The Alexandrovskoye open pit gold mining project and mining processing plant – GOK assets are located immediately west of the Orsu Metals’s Sergeevoskoe project in Russia and the company has entered into a nonbinding letter of intent (LoI) to acquire a portfolio of core assets, including GOK.

Orsu and GOK are conducting a bulk test of the Sergeevoskoe mineralised material to determine the metallurgy and amenability to processing at the GOK plant. Pursuant to the LoI, Orsu has the exclusive right to conduct due diligence and agree on the structure and terms of the execution of a definitive agreement by February 28, 2021. The proposed transaction is subject to the completion of due diligence by each of Orsu and GOK, the negotiation and finalisation of a binding definitive agreement for the transaction, the approval of the transaction by the boards of directors of each of Orsu and the sellers, and the approval of the TSX-V.

Source: miningweekly.com

Supported by



Supported byElevatePR Digital

Related News

Sydvaranger acquisition: GRANGEX expands amidst Russian ore exodus

The withdrawal of Russian ore from the European market is fueling increased demand for companies like Sydvaranger, according to Christer Lindquist, leader of GRANGEX....

Expansion milestone: MetalsTech extends operations at Sturec gold mine in Slovakia for ten more years

It sounds like MetalsTech (MTC) has some exciting developments with its Sturec gold mine in Slovakia. The ten-year extension of its underground mining permit...

West African Resources provides production update for Sanbrado gold mine

West African Resources recently provided a production update for its Sanbrado gold mine in Burkina Faso. In the update, the company disclosed that it...

Nornickel shifts strategy: Closing Arctic copper plant, setting up smelter in China

Nornickel, a major Russian nickel and palladium mining company, is adjusting its strategy in response to Western sanctions by shutting down its Arctic copper...
Supported by
Supported by
Supported by
error: Content is protected !!