June 9 (Reuters) - Black Rock Mining Ltd BKT.AX :
* ENTERED INTO STRATEGIC ALLIANCE & DEVELOPMENT MEMORANDUM OF UNDERSTANDING WITH POSCO GROUP
* MOU WITH POSCO FOR DEVELOPMENT OF MAHENGE GRAPHITE PROJECT
* TERMS OF MOU INCLUDE COMPLETION OF DUE DILIGENCE PERIOD OF UP TO 90 DAYS TO SUPPORT 2-PHASE BINDING INVESTMENT DEAL
* IN MOU PHASE 1, POSCO IS TO SUBSCRIBE UP TO US$10M FOR EITHER SHARES AND/OR CONVERTIBLE NOTES IN CO
* IN MOU PHASE 2, POSCO MAY MAKE 2ND INVESTMENT OF AMOUNT YET TO BE DETERMINED IN CO