Australian Vanadium does deal for equity in gold-copper company...

Australian Vanadium does deal for equity in gold-copper company

14:00 20 Jan 2017

Australian Vanadium (ASX:AVL) has agreed to sell its precious and base metals rights on the **anintha Project and 100% equity in the Peak Hill Project, both located in Western Australia.

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Australian Vanadium's **anintha Project

The development by AVL of its world class, high grade vanadium-titanium-iron project at **anintha will continue unabated.
AVL will receive a 0.75% net smelter return and 5 million shares in Bryah Resources Ltd, which is planning to list on the ASX in the coming month.
The shares will give AVL a 7-9% stake in Bryah after its proposed initial public offering (IPO).
The transaction represents an opportunity for AVL to realise value for the gold and base metals’ potential of its **anintha and Peak Hill projects, whilst it continues to pursue its strategic focus on energy storage minerals, primarily vanadium and lithium.
AVL shareholders will also be given a priority opportunity to participate in the Bryah IPO.

Bryah Resources Ltd
Bryah is an unlisted public company with a focus on gold and copper exploration.
Apart from the **anintha and Peak Hill Projects acquired from AVL, Bryah has recently acquired tenements covering 500 square kilometres within the highly prospective and under-explored Bryah Basin in Western Australia.
With the addition of the AVL ground, this land holding exceeds 700 square kilometres.
Historical drill results from **anintha include 5 metres at 8.72 g/t gold and 3.05% copper from 31 metres depth.

http://www.*.com.au/companies/news/...for-equity-in-gold-copper-company-171926.html