Alma Metals Expands Briggs Copper JV in Queensland with Strategic EPM Acquisitions

Alma Metals Limited (ASX: ALM) has entered into a binding agreement with Tropex Metals Pty Ltd to acquire two Exploration Permits for Minerals (EPM’s) adjoining the Briggs Copper Project in Queensland. The strategically located EPMs will enhance the existing Briggs, Mannersley, and Fig Tree Hill joint venture in central Queensland.

As part of the deal, Alma will issue AUD $50,000 worth of ordinary shares to Tropex, with a 6-month escrow period. Additionally, Tropex will receive a 1% Net Smelter Royalty on mineral production from the acquired EPMs, capped at AUD $7.5M. These acquisitions align with Alma's Earn-In Joint Venture agreement, where the company holds a 30% JV interest, aiming to increase it to 70% through staged earn-ins with Canterbury Resources Limited (ASX: CBY).

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