Well they are a good 6+ weeks in DD so maybe we will know something this quarter
CORPORATE
During the June Quarter the Company completed negotiations on a possible corporate transaction or an alternative commercial transaction with another corporation, and entered into a “Deed of Advance” with that company under which Niuminco has access to a $500,000 funding facility, of which approximately $250,000 has been advanced to date. In the event that either of these transactions are finalized, the advances will form part of the equity contributions contemplated under these transactions.
In early June, as part of the due diligence process, a team of independent third party mining, geological and environmental consultants visited the Edie Creek mine. We refer shareholders to recent ASX announcements on the progress to date of these possible transactions.
The Company is currently awaiting the result of a regulatory review, and finalization of any further transaction is subject to the results of this and any further regulatory reviews, completion of due diligence, documentation, shareholder approval and other usual preconditions and approvals.
The Company will provide further updates to shareholders on the progress of this transaction.
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