Reported Monday, Metals Acquisition Invests In Polymetals Resources With Strategic A$5M Deal, Securing Initial Stake And Future Collaborations
Portfolio Pulse from Benzinga Newsdesk
Metals Acquisition Corp (MAC) is investing A$5 million in Polymetals Resources (POL) to secure an initial stake and future collaborations. The deal includes an initial A$2.5 million investment for a 4.31% interest in POL and an additional A$2.5 million subject to certain conditions. These conditions include funding for the Endeavor mine, tolling and water offtake agreements, and necessary third-party consents. MAC will also have the right to appoint a director to POL's board if it holds more than 7% of POL's shares.
May 28, 2024 | 8:18 am
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Metals Acquisition Corp (MAC) is investing A$5 million in Polymetals Resources (POL) to secure an initial stake and future collaborations, including mine funding and tolling agreements.
The investment by MAC in POL is likely to be seen positively by investors as it secures a strategic stake and potential future collaborations, which could enhance MAC's business prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100