(ASX: SEI, Speciality Metals or the Company) also announced on 16 October 2018 that there were still several other parties interested in the Mt Carbine opportunity and the Board believes that they will be able to conclude the deal with at least one of them.
MT CARBINE QUARRY & MINING LEASES UPDATE Speciality Metals provided updates on 31 August 2018 and 16 October 2018 with the latest announcement stating that negotiations with a number of key international and local financiers were progressing with two of the international parties now in the advanced stages of their due diligence process. There are still several other parties considering the Mt Carbine opportunity. Executive Chairman of Speciality Metals, Mr Russell Krause stated: “Your Board is continuing in its efforts to secure the most cost-effective funding model for the purchase of the Mt Carbine Quarry and Mining Leases and are expecting that the Company will be able to successfully secure the required financing from at least one of the above parties. The Board looks forward to unlocking the full value of its world-class Mt Carbine Tungsten Project once the purchase has been finalised.”
BOOM !!!
SEI Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
