Australia’s International Funding Overview Board (FIRB) has given the go-ahead for Shandong Yulong Gold to purchase a 70% curiosity in ASX-listed Triton Minerals’s in its portfolio of graphite tasks in Mozambique, together with the flagship Ancuabe venture, for A$17-million.
The FIRB clearance offers for pre-completion to happen, on or earlier than December 31, through which Yulong might be granted three further administrators to the boards of Kwe Kwe Graphite and Grafex – the Mozambique possession firms of Triton’s graphite property – and a fee of $5.95-million to be made to Triton.
The receipt of this pre-completion fee will present a capital injection that considerably strengthens Triton’s monetary place and can allow it to progress its strategic initiatives and operational targets into the longer term.
