Sept 16 (Reuters) - Comet Resources Ltd (CRL) : COMET ACQUIRES...

Sept 16 (Reuters) - Comet Resources Ltd (CRL) :

• COMET ACQUIRES STRATEGIC QLD COPPER PROJECT FROM GLENCORE
• ACQUISITION OF STRATEGIC QUEENSLAND COPPER PROJECT FROM GLENCORE
• TO ACQUIRE 100% OF MT MARGARET COPPER PROJECT FROM GLENCORE UNDER IMPROVED TRANSACTION TERMS
• WILL NOW RAISE A$27M TO FUND ACQUISITION AND INITIAL POST-ACQUISITION PRE- DEVELOPMENT ACTIVITIES
• GLENCORE NOW TO PROVIDE 3-YEAR LOAN OF A$27M TO COMET
• QUEENSLAND COPPER PROJECT HAS SIGNIFICANT POTENTIAL FOR RESOURCE GROWTH THROUGH FURTHER EXPLORATION
• CONSIDERATION FOR ACQUISITION OF MINERALS MINING AND METALLURGY LTD SHARES IS 73.6 MILLION CRL SHARES