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Matsa-IGO deal win for both parties

IGO has acquired a 70 per cent interest in Matsa Resources’ Fraser Range Tenements in Western Australia.

Under the terms of this 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.

Matsa executive chairman Paul Poli said the transaction enabled 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.

“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.”

Both companies agreed to terminate any existing agreements and immediately proceed to the one all-encompassing agreement for the entire Matsa holding in the Fraser Range.

IGO owns and operates the Nova nickel-copper-cobalt operation, the Forrestania Nickel operation and the Cosmos Nickel operation in Western Australia, and is also invested in a lithium focused joint venture with partner Tianqi.

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).
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