The announcement today that Blackthorn Resources and Glencore have signed a binding agreement for the commencement and production of saleable zinc early in 2012 is extremely positive. The process is dependent on a EGM shareholder approval and precedent conditions being met . This now appeasr to be par for the course.
Glencore will commit $80 million towards the project comprising of $50 million in equity and $30 million towards production of Perkoa zinc. Having a world leader in base materials such as Glencore associated and leading with the Perkoa Zinc Project is a feather in the cap of Blackthorn Resources.
This coupled with Blackthorn's links with BHP on other projects is extremely positive for the future of the company and for shareholders. Well done Scott Lowe and team. Ever the optimist! DYOR
btr and glencore sign binding agreement
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