MetalsTech Limited (ASX: $MTC) has provided an update on the proposed transaction with Trans Metal Fund (TMF) regarding the Sturec Gold Mine in Slovakia. TMF has proposed an acquisition offer totaling US$81 million, with an upfront cash payment of US$36,000,000 upon closing, and further payments upon the granting of an underground mining activity permit. The Company will also retain a 2% gross overriding royalty on the revenue of the Project. TMF has confirmed the satisfaction of a key condition under the Offer, following the granting of the underground mining activity permit for the Sturec Gold Mine.
We are pleased to announce the progress in the proposed transaction with Trans Metal Fund for the Sturec Gold Mine. The offer of US$81 million, including an upfront cash payment and future royalty, reflects the value of the Project. The confirmation of the satisfaction of a key condition further solidifies the advancement of this transaction. We remain committed to updating our stakeholders as we continue to move forward with the strategic process.
MetalsTech Limited (ASX: $MTC) has provided an update on the proposed transaction with Trans Metal Fund (TMF) for the Sturec Gold Mine in Slovakia. TMF has proposed an acquisition offer totaling US$81 million, with an upfront cash payment of US$36,000,000 upon closing, and further payments upon the granting of an underground mining activity permit. The Company will also retain a 2% gross overriding royalty on the revenue of the Project. The satisfaction of a key condition under the Offer, following the granting of the underground mining activity permit for the Sturec Gold Mine, marks a significant milestone in the transaction process. The Company looks forward to keeping stakeholders informed as it progresses with this strategic initiative.