trending Market Intelligence /marketintelligence/en/news-insights/trending/PQ3jTO2E2VaxGVPSYMe0FQ2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Magmatic Resources gets waiver for A$500,000 spend for Mount Venn acquisition

Blog

COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Metals & Mining Insights, April 2021

Blog

Global M&A Infographic Q1 2021


Magmatic Resources gets waiver for A$500,000 spend for Mount Venn acquisition

Magmatic Resources Ltd. said May 29 that a A$500,000 minimum spend requirement as part of its acquisition of the Mount Venn copper-nickel-cobalt project in Western Australia from Element 25 Ltd. was waived in exchange for 2 million options.

The options are exercisable at 3 Australian cents within five years. The Australia-listed explorer has already paid A$250,000 in cash and A$425,000 in shares in connection to the transaction.

Meanwhile, Magmatic was granted tenement license E38/3351 abutting the Mount Venn project to the north.