THE BOURSE WHISPERER: Matsa Resources (ASX: MAT) has struck a new agreement with IGO, via the latter’s wholly owned subsidiary.
Matsa Resources announced IGO Newsearch will acquire a 70 per cent interest in the Symons Hill project as well as Matsa’s other Fraser Range tenements.
Under the terms of the agreement IGO will pay $600,000 in cash and then free carry Matsa for all exploration to completion of feasibility studies or decision to mine whichever occurs earlier.
“This transaction enables IGO to have unfettered access to any part of Matsa’s Fraser Range landholding and explore the tenements to the fullest extent without specific time or cost demands,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.
“It provides Matsa with a cash boost as well as receiving the expert knowledge and exploration experience of the IGO team which is second to none.
“Matsa welcomes IGO’s exploration knowhow and capabilities throughout its Fraser Range tenement holdings.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE