Australia’s Foreign Investment Review Board (FIRB) has approved a strategic cooperation arrangement between Kimberley Metals and China’s largest lead producer, Henan Yuguang Lead & Gold Co.
The arrangements involve Yuguang taking a 15% placement in Kimberley and earning a 25% direct interest to develop the Sorby Hills lead-silver-zinc project in Western Australia.
The FIRB has advised Yuguang that it has no objections to the proposed arrangements with Kimberley.
The $5 million of funding for the Sorby Hills Joint Venture will be utilized to bring the project feasibility study to completion.
The $5 million cash injection into Kimberley will be dedicated to a production start-up for the Pearse Gold Project at Mineral Hill in New South Wales, including the recommissioning of the Mineral Hill processing plant to produce both gold bullion and gold in concentrate.
www.kimberleymetals.com.au

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