A deal with benefits: Valor offloads Peruvian projects to focus on uranium, rare earths

Firetail’s shareholders give the all clear for Peruvian project acquisition

Divestment allows Valor to focus on Canadian REE and uranium assets

The company retains exploration upside with up to 20% stake in FTL and 20% free carry in the project

Uranium to play a key role in global decarbonisation Shareholders of Firetail Resources (ASX:FTL) have approved the acquisition of Valor Resources’ Picha copper-silver project and Charaque copper project in southern Peru. The transaction will streamline Valor’s (ASX:VAL) global portfolio, allowing it to focus on its high-potential uranium and rare earth assets in Canada’s Athabasca Basin.Firetail will acquire up to an 80% interest in the projects for $550,000 in cash, 15 million Firetail shares and 20 million performance rights subject to certain vesting conditions.The equity consideration is equivalent to a 20.58% shareholding in Firetail on a fully-diluted basis, so Valor will retain exposure to any future exploration upside in Peru.Plus, […]

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