Dec 19 (Reuters) - Andromeda Metals Ltd ADN.AX :
* COMMERCIAL TERMS AGREED FOR BINDING EARN‐IN & JV DEAL ENTERED WITH ENVIRONMENTAL METALS RECOVERY TO FORM MOONTA ISR JV
* UNDER TERMS, AFTER DUE DILIGENCE, EMR WILL SOLE FUND $2.0 MILLION OVER 4 YEARS TO EARN A 51% EQUITY INTEREST IN PROJECT AREA
* EMR CAN ELECT TO SOLE FUND FURTHER $3.5 MILLION OVER ADDITIONAL THREE & A HALF YEARS TO INCREASE EQUITY INTEREST TO 75% IN PROJECT AREA
* EMR WILL ACT AS MANAGER AND OPERATOR OF JOINT VENTURE