Just adding some extra infoIPO hopeful Maximus Resources has...

Just adding some extra info

IPO hopeful Maximus Resources has entered into an agreement with Apex Minerals to farm into 13 granted exploration licenses at the Windimurra – Narndee project in Western Australia.

Maximus can acquire a 51% stake in the project through the expenditure of $1.5 million over three years including a minimum expenditure of $600,000 in the first year, and then increase its stake to 70% by spending a total of $3 million over six years.

Under the terms of the agreement, Maximus will also issue Apex one million, five year, 20c unlisted options, and upon raising $4 million pursuant to an IPO, 1M fully paid shares.

Current Flinders Diamonds managing director Kevin Wills and Lach Drummonds senior geological consultant Gary Maddocks will head up Maximus.

The two are reportedly designing programs to investigate the nickel sulphide potential of the Narndee region, the platinum, palladium and gold potential of the broader project area, and a number of historical uranium calcrete anomalies.

The deal is the farm out Apex has announced this week, with Perilya farming into Apex's Jillawarra base metals project, located 150 kilometres north west of Meekatharra, in the Bangemall district in Western Australia.

Apex is concentrating on its operations in China where it has a porphyry copper alliance with Canadian mining house Noranda.