Platina Resources Ltd. said Sept. 24 that it is looking to advance its namesake scandium project in New South Wales, Australia, after signing a six-month memorandum of understanding with Traxys SARL unit Traxys Europe SA.
Traxys will help the company develop a strategic product, a market and a marketing plan and will arrange funding in exchange for long-term exclusive marketing and distribution rights to the Platina project's scandium products.
The companies will now prepare a binding, multi-staged cooperation agreement and a marketing and distribution agreement with a future working capital component.
