StockMarketWire.com - Weatherly International has agreed to acquire the Kitumba copper project in Zambia from Australian-listed Intrepid Mines.

It would pay an up-front consideration of A$4.75m in cash, plus deferred consideration of A$0.5m upon a decision to mine and a further A$0.5m upon achieving commercial production.

The transaction is subject to certain conditions including Intrepid shareholder approval and any regulatory approvals required in Zambia and Australia.




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