Apollo Minerals Ltd. subsidiary Gemini Resources struck a deal to earn-in up to an 80% stake in Trek Metals Ltd.'s Kroussou zinc-lead project in western Gabon, according to a Sept. 3 release.
Apollo has to spend A$2.0 million on the project within three years to earn an initial 70% stake and an additional A$2.0 million over five years for a further 10%.
Afterwards, the parties must contribute on a pro rata basis or see their stakes diluted.
Apollo is looking to raise up to A$4.2 million through a pro rata rights issue at 2.5 Australian cents per share to fund new and existing activities.
In July, the administrative court of Toulouse ruled to cancel Apollo's Couflens tungsten-copper-gold exploration license in France.
