Highlights
- Ark Mines has signed an MOU with Currumbin Minerals for the supply and delivery of heavy mineral sands (HMS) from Sandy Mitchell Project.
- The ore would be processed at CM’s licenced treatment plant.
- AHK and CM would negotiate a price for the ore treatment to produce HM and rare earths critical minerals concentrate, which AHK would sell at commercial market rates.
Ark Mines Limited (ASX:AHK) has signed a Memorandum of Understanding (MOU) with Currumbin Minerals for its North Queensland-based rare earths and HMS project.
The development concerns he supply and delivery of mineral sands from the Sandy Mitchellproject,.
Under the MOU, the framework as well as timeline has been defined for both the companies involved to work in collaboration for a definitive agreement. The definitive collaboration agreement would allow the treatment of HMS ore transported from Sandy Mitchell at Currumbin Minerals’ fully owned and operated licenced treatment facility in South-East Queensland.
AHK shares were trading at AU$0.165 apiece at the time of writing on 12 January 2024.