Pan Asia Metals Limited (ASX:PAM) entered into binding memorandums of understanding to acquire a portion of the Pink Li Project and the Hilix Li Project from Thomas Eggers for $4.6 million on July 28, 2023. As per the memorandums of understanding, Pan Asia Metals will pay $0.11 million on signing to Thomas Eggers with due diligence to be completed by September 30, 2023. Pan Asia Metals will pay exclusivity payment of $0.01 million, at end of first year will pay $0.05 million, at end of second year will pay $0.15 million, at end of year third will pay $0.3 million, at end of fourth year will pay $1 million, will pay for exploitation permit $3 million.