Extension of Acquisition End Date of the Toro - Malambo - Tambo Project
Perth, Feb 28, 2023 AEST (ABN Newswire) - Belararox Limited (ASX:BRX) is pleased to announce that due diligence in respect of the acquisition (Acquisition) of the Toro - Malambo - Tambo (TMT) Project in Argentina (Project) announced on 3 January 2023 is well advanced.
A successful site visit was completed by BRX in February 2023 together with the finalisation of technical, financial and corporate due diligence. Legal due diligence is still subject to independent confirmation of the good standing of the tenements to be acquired.
The Company has agreed with the Vendors to extend the End Date for the Acquisition to 5.00pm on 31 March 2023 to enable confirmation of the good standing of the Tenements. The Company is confident that due diligence will be completed before the new End Date.
Preparation of a Binding Agreement reflecting the terms of the Non -Binding Term Sheet together with key transaction documents including royalty and management agreements is well underway.
About Belararox Limited
Belararox Limited (ASX:BRX) is a mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets. Our projects currently include the potential for zinc, copper, gold, silver, nickel and lead resources.