Pan Asia Metals Limited (ASX: PAM) announces that it has completed due diligence on the Rosario Copper Project and has secured a binding Option Agreement to acquire 100% of the project. The Rosario Copper Project represents a significant opportunity in the Central Copper Belt, one of Chile's premier copper-producing regions. This strategic move will provide PAM with a solid entry point into the lucrative copper market, a crucial metal in high demand for battery production. This project offers immense potential, strategically positioned near critical copper infrastructure, including the El Salvador copper mine, Enami's El Salado copper ore processing plant, and Codelco's Porterillos copper smelter.
Under the terms of the Option Agreement, the three-year period allows it the option to purchase the project for US$2.0 million at any time. Furthermore, it can optimize its investment with 50% of the annual fee of US$100k payable in PAM shares. The company is incredibly excited about this project's prospects and looks forward to the opportunities.
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