MetalsTech Ltd (AU:MTC) has released an update.
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MetalsTech Limited has announced the advancement of their strategic process as the condition concerning the underground mining activity permit for the Sturec Gold Mine has been met, satisfying a key requirement of Trans Metal Fund’s US$81 million acquisition offer. Shareholders stand to benefit from an upfront cash payment, a subsequent payment upon the mine’s permit grant, and the option for MetalsTech to convert a royalty into a lump sum following commercial production.
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