"HMO owns the Hellyer Tails Gold Resource, processing plant, Hellyer Mine Lease and has a Sublicence Agreement with Bass over the Mt Charter Gold Resource (refer Annexure A for Mineral Resource details). BASS METALS WILL RETAIN EXPLORATION AND DEVELOPMENT RIGHTS IN RESPECT OF BASE METALS OVER THE HELLYER MINE LEASE through a Sublease Agreement. Ivy has confirmed to Bass Metals that it intends for the Hellyer Plant to remain on site. The Hellyer Plant could, therefore, be available for Bass Metals to utilise subject to Ivy’s development plans. Ivy Resources is a private investment vehicle owned and managed by experienced mining professionals who are actively involved in a number of other mining and development operations in Australia and internationally. On settlement, Ivy has indicated to Bass Metals that it plans to fast track a feasibility study to assess the treatment of the Hellyer Tails to recover gold and silver. It is proposed that Bass Metals will continue to be involved in the site maintenance and environmental management activities under a technical services agreement to share and optimise personnel and services, but importantly for Bass Metals, these costs will also now be shared."
BSM doesn't even need to go far.
BSM Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
