Aug 17 (Reuters) - Poseidon Nickel Ltd POS.AX :
* BLACK MOUNTAIN METALS HAS MADE A BINDING, CONDITIONAL PROPOSAL TO ACQUIRE 100% OF ISSUED SHARES IN POSEIDON NICKEL
* UNDER PROPOSAL, A CASH CONSIDERATION OF $0.06 PER SHARE IS PROPOSED
* INCLUDES PROVISION OF SUBJECTIVE LOAN FUNDING TO POSEIDON OF UP TO $2 MILLION