Transcript:
Hi, my name is Karen Wellman and I’m the managing director of Dynamic Metals.
I’m here to talk about our binding term sheet that we’ve signed with Mineral Resources.
This agreement, mineral Resources would earn a 40% interest of our lithium rights and our Widgiemooltha project in exchange for $5 million cash.
Stage two of the agreement is to earn up to 65% by spending $15 million in the ground at Widgiemooltha.
Dynamic will then be free carried to 20% interest until a decision to mine is made by Mineral Resources.
This is a fantastic opportunity for Dynamic Metals to partner with Mineral Resources who are a leader in the Australian lithium space.
This is an obvious partnership due to the location of the Widgiemooltha projects sitting directly around the Mount Marion operations and also the Bald Hill project which is owned by Mineral Resources.
This transaction is a great opportunity for Dynamic shareholders as $15 million we spent in the ground which will accelerate exploration activities and increase the chances of discovery at Widgiemooltha.
The cash consideration given to Dynamic Metals be used to accelerate our own exploration on our other projects which include the Lake Percy project and the Deep Well project up at Meekatharra.
For more information, please hit our website or check out our socials.
