RE: Errawarra JV29 Apr 2024 13:13
Initially, Errawarra will invest A$500,000 in Alien Metals through a company placement based on the ten-day volume-weighted average price prior to the agreement’s execution.
To earn a 25% stake, Errawarra must spend A$1m within the first two years, followed by an additional A$2.5m within three years to acquire the remaining 25%.
Upon completion of the first two stages, Errawarra will hold a 50% interest in the Pinderi Hills Project.