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BRIEF-Brockman Mining Announces Transfer Of 50% Interest In Marillana Project To Unit Of Mineral Resources

Published 26/07/2018, 11:12 pm
Updated 26/07/2018, 11:20 pm
© Reuters.  BRIEF-Brockman Mining Announces Transfer Of 50% Interest In Marillana Project To Unit Of Mineral Resources

July 26 (Reuters) - Brockman Mining Ltd 0159.HK :

* POLARIS, UNIT OF MINERAL RESOURCES LTD MAY FARM-IN BY SATISFYING FARM-IN OBLIGATIONS AND EARN A 50% INTEREST IN MARILLANA PROJECT

* UNIT OF CO AND POLARIS ENTERED INTO FJV AGREEMENT TO ESTABLISH JOINT VENTURE TO DEVELOP MARILLANA PROJECT

* UNDER JV TERMS, POLARIS WILL PROVIDE AN INTEREST-FREE LOAN OF A$10 MILLION TO UNIT OF CO

* JV PARTIES ARE RESPONSIBLE FOR FUNDING DEVELOPMENT ACTIVITIES OF MARILLANA PROJECT OF A$300 MILLION IN TOTAL OR A$150 MILLION BY EACH JV PARTY

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