Volta Mining in major discussions

THE BOURSE WHISPERER: Volta Mining (ASX: VTM) has told the market it is in advanced discussions with an ‘industry participant’ with respect to formalising collaborative agreements.

According to Volta discussions are well underway between both parties with regards to entering into agreements (binding and non-binding) with respect to project finance, drilling services, access to infrastructure, and other collaborative efforts to expedite the development of each parties’ respective corporate objectives.

“We believe the discussions are a critical step forward in the growth of the company,” Volta Mining managing director David Sumich said in the company’s announcement to the Australian Securities Exchange.

‘‘We are pleased with the progress of discussions achieved to date and look forward to successfully concluding arrangements for the introduction of a strategic partner to aid in the advancement of our projects.

‘‘Such collaboration makes commercial sense as the resulting agreements will better equip us, through collaborative efforts, to attaining our goal of becoming the first iron ore producer in Gabon, thus enabling Volta Mining to generate significant value for its shareholders and the Republic of Gabon.”