ACS ann finally out on lead up to possible negotiations. explains buying interest on chart in recent weeks.
if they fail on this then another plv where gets sold off until come good on finance and development. plv spiked to 90c last year on similar news but still waiting and price fell right back. cant see ACS spiking yet on this ann. will happen down track if they can deliver.
"Accent Resources (ASX: ACS) has executed confidentiality deeds with interested parties in China to facilitate the exchange of information regarding a possible sale of the Magnetite Range project in the mid west of Western Australia.
Accent's quality Magetite Range iron ore project, has a 391 million tonne resource and more than 70% of the maiden resource is already in the Indicated category.
E59/875 partly surrounds Mt Gibson Irons (ASX: MGX) Mt Extension Hill project and the ironstone formation is believed to extend onto the companys EL59/875 at the north eastern and south western extremes of the project.
Accent is preparing a data room to facilitate due diligence of the Magnetite Range project.
Following discussions expected to be had in China in the near future Accent will invite interested parties to review the data.
Ian Hastings, executive chairman, said Accent continues to examine all possible options for the Magnetite Range project and on completion of the above will be in a better position to evaluate the benefits of a possible sale.
