As part of the new 2020 focus on PGM-nickel-copper exploration, Impact Minerals Limited (ASX:IPT) announced to ASX on 24 February 2020 that it had signed a non-binding MoU with Castillo Copper Limited (ASX:CCZ) and Squadron Resources Limited to form the Broken Hill Alliance (BHA) to which the Company will contribute the rights to silver-lead-zinc Broken Hill-style mineralisation and other associated styles of mineralization.
Impact will retain the rights to the nickel-copper-PGMs and associated metals across its entire tenement holding in the region.
Two key terms of the MoU are: It is an initial six-month agreement to market the project to potential strategic partners, with the marketing to be led by Castillo Copper Limited and If a suitable partner is found, the three parties will form a special purpose vehicle (SPV) which will acquire a total of nine tenements from the three parties in return for equal shareholdings (33.3% each) in the new SPV company.
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