26 March 2024
26 March 2024
FBM agreed to pay A$250,000 ($163,282) upon the execution of the agreement, and $750,000 at completion.
In a shareholder meeting of 92E, 99.65% of the attendees voted for the proposal.
The Samapleu-Grata Nickel-Copper Project is located around 600km from Abidjan.
Post-acquisition, Brightstar and Linden shareholders would own 62% and 38% of the merged entity, respectively.
BSMC will help AuKing obtain a Foreign Investment Licence from the Saudi Investment Ministry.
The acquisition is structured with a base price of C$117m ($86.1m), payable over ten years.
The company anticipates beginning the front-end engineering design (FEED) services in September 2024, with an estimated completion time of 18 months.
The proposed smelter will be built within the Ohio/Mississippi River Basins and is among 33 projects to receive funding.
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