trending Market Intelligence /marketintelligence/en/news-insights/trending/ljxso0oyqlrpivaipbvmta2 content esgSubNav
In This List

Apollo Minerals to acquire 75% interest in Aurenere tungsten-gold project

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Apollo Minerals to acquire 75% interest in Aurenere tungsten-gold project

Apollo Minerals Ltd. said March 21 that it signed a heads of agreement to acquire a 75% interest in NeoMetal Spania SL, which holds the rights over the Aurenere tungsten-gold project in northern Spain, from NeoMetal SAS.

The Aurenere project is contiguous with its Couflens tungsten-copper-gold project in southern France. Apollo initially acquired an 80% interest in the Couflens project in 2017 and then acquired the remaining 20% earlier this month.

To acquire the interest in NeoMetal Spania, the company will pay an initial €100,000 and a deferred €150,000 prior to the grant of the investigation permit by the Spanish government. In addition, Apollo must incur a €3.5 million spend over eight years to retain its 75% interest.

An initial reconnaissance field campaign has been carried out at Aurenere, with the results to be released following verification.