Matsa Resources Limited (ASX: MAT) has entered in to an agreement with IGO Newsearch Pty Ltd whereby IGO will acquire a 70% interest in the Symons Hill project as well as Matsa’s other Fraser Range tenements in Western Australia.
Under the terms of this agreement IGO will pay $600,000 in cash and then free carry Matsa for all exploration to completion of feasibility studies or decision to mine whichever occurs earlier.
“This transaction enables IGO to have unfettered access to any part of Matsa’s Fraser Range landholding and explore the tenements to the fullest extent without specific time or cost demands. It provides Matsa with a cash boost as well as receiving the expert knowledge and exploration experience of the IGO team which is second to none,” Matsa’s Executive Chairman, Paul Poli, said.
“Matsa welcomes IGO’s exploration knowhow and capabilities throughout its Fraser Range tenement holdings.”
Both companies agreed to terminate any existing agreements and immediately proceed to the one all encompassing agreement for the entire Matsa holding in the Fraser Range.
For further information: https://www.matsa.com.au/
