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Platina enters MOU with Traxys to advance Australian scandium project

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.