MTM (ASX:MTM) to acquire 100% of Flash Metals Pty Ltd, owner of three exploration licences in Western Australia’s West Arunta region, immediately adjacent to ground held by WA1 Resources (ASX:WA1).
DEAL OVERVIEW
MTM has agreed to pay Flash:
A non-refundable $10,000 fee (which has previously been paid).*100 million fully paid ordinary shares of MTM and 50 million MTMO quoted options;*37m performance rights and 15m unquoted options with an exercise price of $0.25 and an expiry date of 30 December 2026 vesting equally across 3 milestones:Drilling results of >10m at > 1,000ppm total rare earth oxide (“TREO”) and/or>0.5% Nb2O5;JORC inferred resource of > 10MT at > 1,000ppm TREO and/or >0.5% Nb2O5JORC inferred resource of >20MT at > 1,000 ppm TREO and/or >0.5% Nb2O5
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