Fulcrum Metals PLC on Wednesday announced that it signed a letter of intent to sell its Saskatchewan uranium projects.
The Canada-focused mineral exploration and development company said the LOI is with Terra Balcanica Resources Corp, a Bosnia & Herzegovina and Serbia-focused mining explorer.
Terra will have the option to fully buy the projects, paying C$300,000, around $221,000, in cash, with the value of shares in Terra to Fulcrum increasing to around C$3.0 million over four years.
Panther Metals, an Isle of Man-based investor in and acquirer of companies within the natural resource sector with a near 20% stake in Fulcrum, noted the announcement.
Fulcrum Metals shares were flat at 15.00 pence each on Wednesday afternoon in London, while Panther Metals shares rose 7.7% to 3.50p each.
Copyright 2024 Alliance News Ltd. All Rights Reserved.