Platina Resources Unlocks Value in Skaergaard Project with Multi-Million Deal; Stock Spikes 12%

1 min read | June 01, 2020 12:22 PM AEST | By Team Kalkine Media

Google News:

Recent News

The Contrarian's Map: Which ASX Sectors Look Cheap Right Now

Buying a Dollar for Seventy Cents: What Does Value Investing Actually...

Growth at What Price? A Sensible Framework for Buying ASX Tech After t...

Best ASX Tech Stocks: Durable Moats After the Shakeout

Make Kalkine Media
My Trusted Source

Mineral explorer, Platina Resources Limited (ASX: PGM), has signed an agreement with Canadian exploration company Eastern Zinc Corporation (CSE:EZNC) for the sale of its 100% owned Skaergaard palladium and gold project in Greenland. The deal is expected to create more than AUD 8.3 million in value in the project, holding potential to be one of the world’s most advanced palladium projects and requiring substantial financial and technical resources.

Under the deal, PGM will receive CAD 0.5 million in cash and CAD 7.15 million worth of EZNC shares. Following the deal completion, the Company will become a major shareholder in Eastern with a right to a Board seat.

The PGM stock was trading at AUD 0.026, up 4% at AEST 12.05 PM, after touching a midday high of 12% on 1 June 2020.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.