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Caeneus to acquire remaining 20% of Pardoo nickel project in Western Australia

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Caeneus to acquire remaining 20% of Pardoo nickel project in Western Australia

Caeneus Minerals Ltd. said June 13 that it plans to acquire the remaining 20% interest in the Pardoo nickel project in Western Australia that it does not already own from Arrow Minerals Ltd.

The companies agreed to terms to finalize the acquisition through a A$200,000 cash payment in two installments before December.

After Caeneus unit Port Exploration Pty. Ltd. completed a stage two earn-in for 80% of the project in September 2017, Arrow had rights for 18 months to sell the remaining stake to Caeneus.