C29 Metals, through its local subsidiary, has executed a binding heads of agreement (HOA) with Kazakhstan-based Bask International Group Ltd. that sets out the framework for an incorporated Joint Venture between the companies.
The purpose of the JV is to enable the companies to work collaboratively to identify or acquire and develop advanced exploration projects across Kazakhstan. It will be primarily focused on identifying copper-gold projects that exhibit strong geological evidence and tenement package scale with a high potential of being a Tier-1 project.
“The execution of the HOA as a precursor to the incorporated joint venture marks another significant milestone in our strategic growth plans,” C29 Metals Managing Director Shannon Green.
“Partnering with Bask International Group in Kazakhstan will grant us access to opportunities that would not typically be within the company’s’ scope and Bask International Group’s network and capabilities will enable us to move at an unprecedented pace as we work to rapidly scale the company.”
C29 Metals said the HOA would not have any effect on its existing project portfolio or capital Structure.
Source: C29 Metals