Platina Resources Extends MoU Term by Six Months with Traxys Europe; Stock up 5.88%

May 06, 2020 12:28 PM AEST
Team Kalkine

Australia-based Platina Resources Limited (ASX: PGM), focussed on advancing its portfolio of early stage precious, speciality and base metal projects through exploration, feasibility, permitting and development, has extended the Memorandum of Understanding (MoU) with Traxys Europe S.A by a further six months. The term has been extended to continue with assessment of scandium product and market development, as well as potential funding for the Company’s Platina Scandium Project in New South Wales, Australia.

The MoU contemplates to continue working towards-

A multi-staged cooperation agreement
A marketing and distribution agreement
A future working capital component
Preparing binding documentation

On 6 May 2020 (AEST 12:07 PM), the PGM stock was trading at AUD 0.018, up 5.88% from its previous close.

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