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0.1¢ classic minerals ltd

Ann: June 21 Quarterly Activities Report Amended, page-4

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DevsAdvoc

184 Posts.

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01/09/21

21:31

Post #: 55763300
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Originally posted by Hamondo: ↑

Strange in the way that this was announced................................ In the middle of this announcement

FRASER RANGE
The Company refers to the ASX announcements of 17 June 2019 and 05 July 2019 wherein Classic
entered into the Earn-in and Joint Venture Agreement with Independence Newsearch Pty Ltd, a 100%
owned subsidiary of IGO Limited (ASX: IGO) (“IGO”). More details of the transaction can be found in
these two announcements.
The following is an update of progress on exploration carried out during the June 2021 quarter by IGO
on the Fraser Range tenements.

In June 2021, IGO notified Classic of its election to acquire a 51% interest in the joint venture
tenements after spending $1,500,000 on exploration; and its intention, at its option, to spend a
further $1,000,000 exploring the Tenements over the next two years to increase its joint venture
interest to 70%. Classic has provided signed transfers of 51% of the tenements to IGO and received
$550,000 (including GST) on 8 June 2021

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I’ve read this previously so definitely wasn’t a fresh announcement.

CLZ Price at posting: 0.1¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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