25th Sep 2023 10:37
Tertiary Minerals PLC - mineral exploration and development company focused on energy transition metals with projects in the US and Zambia - Alongside its local partner, Mwashia Resources Ltd, signs a largely non-binding term sheet for an earn-in and joint venture agreement with an unnamed third party. The agreement provides for the third party to earn into exploration licence 27067-HQ-LEL, the Konkola West project in Zambia. The term sheet proposes the third party will, in stage one, commit to a drill programme to be completed within 14 months of signing the agreement. Following this, the third party will earn an initial 51% interest in the licence, with the option to earn 70% in stage two by sole funding a cumulative USD6 million on exploration within 48 months of signing the agreement. Read More