11
Nov
14:41
NICKEL: Auroch forms JV to reopen Australia's Nepean mine
Australia-based Auroch Minerals says it has signed a binding agreement to acquire 80% of the shares of Eastern Coolgardie Goldfields Pty Ltd and the historic closed Nepean nickel mine for $4 million, Kallanish reports.
Of the $4m, $2.5m will be paid in cash and the rest in Auroch stock.
The remaining 20% stake in ECG will be acquired by Goodfellas Pty. Ltd, a newly created private company. The deals must be approved by shareholders and regulators.
When the deal …
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