Arrow Minerals signs a deal to acquire 60.5% controlling Amalgamated Minerals

Arrow Minerals Limited (ASX: AMD) has signed a non-binding term sheet to acquire up to a 60.5% controlling interest in Amalgamated Minerals Pte. Ltd.

Amalgamated Minerals Pte. Ltd. holds a 100% stake in the Simandou North Iron project in Guinea, West Africa. The acquisition of the Simandou North Iron project will be an exceptional early-stage opportunity that will provide Arrow Minerals with access to the premium iron belt in West Africa at a time when significant infrastructural improvements are ongoing.

Under the agreement, the company will issue 81,250,000 fully paid ordinary Arrow shares for a three-month exclusivity option to buy up to a 60.5% interest in the Simandou North Project via Amalgamated.

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