Chrystal Capital has successfully introduced Melior Resources Inc, a publicly listed company majority owned Pala company to Belridge Enterprises Pty Ltd, a private Australian incorporated company which owns the Goondicum Ilmenite Project located in Queensland, Australia, on an all share deal, with respect to the acquisition of 100% of the issued and outstanding shares of Belridge Enterprises Pty Ltd.
100% all share acquisition of Belridge by TSX listed Melior.
Melior to invest up to US$15m in the re-start of mining operation.
Commenting on the deal, Raj Karia, Consultant at Chrystal Capital, states : “The Belridge deal underpins our experience in the sector in identifying fundamentally strong assets and aligning our interests with our investors”
About The Goondicum Project
Resource Base of 1.9 million tonnes of indicated and 1.93 million tonnes of inferred in-situ ilmenite resource with significant opportunities to grow the resource base further through near mine exploration.
In excess of A$120m of historical invested capital previously spent on infrastructure and process plant equipment.
Formerly operating project, currently on care and maintenance, expected to allow for quick and cost effective restart.
Project is strategically located in Australia, close to high growth Asian Markets.
High quality ilmenite product well understood and accepted by customers, with over 61,000 tonnes having been previously supplied to customers.
Successful re-start of Goodicum will provide a strong platform allowing consideration of further growth opportunities.