Just a quick summary of what's been announced so far for reference:
2017/03/21
Under the Agreement, RMX has an exclusivity period of 6 weeks in order to conduct initial due diligence on the Mokabe Cobalt-Copper Project, including tenure and technical due diligence.
2017/05/02 (6 weeks later)
Red Mountain Mining (RMX or Company) advises that the exclusivity period in respect of the Mokabe-Kasari Cobalt-Copper Project in the Democratic Republic of Congo has been extended to 19 May 2017, in order to address certain due diligence matters.
2017/05/22
-Additional high-grade Cobalt results –> 1% Co
-Significant improvement in earn-in terms negotiated
-Further results from rock chip samples to follow prior to official site visit
The parties have agreed to extend RMX’s exclusivity period over the Project to 30 June 2017 in order to finalise due diligence, most importantly obtaining final sample results, completing tenure paperwork and conducting a thorough site visit with CSA Global Pty Ltd in order to assist and complete the Project assessment.
2017/06/04 (Update)
The Company advises that its technical advisor on the Mokabe-Kasari Cobalt-Copper Project in the Lualaba Province, Democratic Republic of Congo (DRC), CSA Global, has recently conducted a site visit. Ground work due diligence has been completed, including verification and fresh sampling. The Company expects to be able to report on such results in the near term.
As a result of the site visit, CSA has begun work on designing a detailed ground-work programme. To allow for results and analysis, the Company has been granted an extension of exclusivity over the project.
2017/07/26 (Quarterly; exactly same as previous update)
Subsequent to the quarter, the Company’s technical advisor on the Mokabe-Kasari Cobalt-Copper Project in the Lualaba Province, Democratic Republic of Congo (DRC), CSA Global, conducted a site visit. Ground work due diligence has been completed, including verification and fresh sampling. The Company expects to be able to report on such results in the near term.
As a result of the site visit, CSA has begun work on designing a detailed ground-work programme. To allow for results and analysis, the Company has been granted an extension of exclusivity over the project.
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