Emergent Resources
Emergent Resources (ASX: EMG) is a diversified, multi commodity junior exploration and development company. The company sees the present and foreseeable demand for resource commodities such as iron, base metals and precious metals remaining strong.
Emergent’s strategy is to effectively define and develop the company's Beyondie Iron Project exploration in conjuction with existing strong geological and structural association of lead-zinc and copper-gold mineralised targets.
Emergent Resources extends date for completion of Beyondie Project acquisition
Wednesday, March 17, 2010
Emergent Resources extends date for completion of Beyondie Project acquisition
On 6 October 2009, Emergent Resources (ASX: EMG) announced the acquisition by agreement with De Grey Mining (ASX: DEG) to acquire 100% ownership of the Beyondie Magnetite Iron Project through the purchase of De Grey’s right to a 20% free carried interest in the project.
The Agreement is conditional on China Metallurgical Investment Co Ltd (CMIC) investment under Emergent’s proposed Development Joint Venture with CMIC for the development of the Beyondie Project, being approved by the Australian Foreign Investment Review Board.
Emergent and De Grey have agreed to extend the date for completion of the acquisition to 30 April 2010.
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