80 Mile PLC Announces Binding Heads of Terms with US Group
80 Mile PLC, an exploration and development company, has entered into a Binding Head of Terms with USFM Corporation.
- The agreement outlines the terms for USFM Corporation to fund $30 million to earn 51% of the Disko-Nuussuaq project in West Greenland.
- 80 Mile PLC will act as the operator and receive a management fee of 12.5% of total expenditure.
- A £500,000 cash payment will be made to 80 Mile PLC upon signing of definitive agreements.
No additional comments were provided.
Author's summary: 80 Mile PLC signs agreement with USFM Corporation.
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