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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