Apollo to sell Serbia copper licence to Bindi
ASX-listed Apollo Minerals on Wednesday announced an agreement to transfer its rights to the Donja Mutnica licence and the Lisa licence application, in Serbia, to fellow-listed Bindi Metals.
The agreement allows for the company to focus on its two priority copper exploration assets – Studena and Kopajska Reka – also in Serbia.
Apollo explained that the assets to be divested were prospective for antimony mineralisation and were more suitable for a separate company focus.
As consideration for the divestments, Apollo would receive an initial cash payment of A$200 000 and one-million fully paid ordinary shares in Bindi, as well as the grant of a 1% net smelter royalty on Donja Mutnica.
A deferred consideration comprises A$200 000 in cash and 2.5-million fully paid ordinary shares in Bindi upon the grant and transfer of Lisa.
“This is an accretive deal for both Apollo Minerals and Bindi, allowing two prospective antimony assets to be explored by Bindi whilst Apollo Minerals retains exposure to the upside exploration potential of both Donja Mutnica and Lisa. We look forward to assisting Bindi as it makes an entry into the exciting jurisdiction of Serbia,” said Apollo MD Neil Inwood.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation