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Marula Mining PLC - Haywards Heath, England-based mining investor - Enters heads of agreement with Takela Mining Tanzania Ltd to secure a 75% interest in 10 granted graphite licences that make up the Nyorinyori graphite project, which is located in Tanzania, for a total consideration of up to £400,000 through staged equity payments. Marula will initially pay Takela £100,000 through issue of 1.3 million shares at 7.5 pence each, subject to a voluntary 12-month lock up.
Chief Executive Officer Jason Brewer says: ‘Once again, and in line with our strategy, I am delighted to share that with this agreement, Marula has further expanded its footprint in the battery metal sector. Tanzania is a jurisdiction we are becoming familiar with and the team at Takela is one that we are comfortable working with and whom have already demonstrated an ability at identifying high-value and near term mining opportunities.’
On Thursday, Marula said it signed co-development and relationship deals with K2020273872 Proprietary Ltd, a wholly owned subsidiary of Q Global Commodities Group. Q Global is an independent commodity, mining, logistics and investment fund in South Africa.
The co-development agreement sets out the broad technical and strategic support to ‘allow the accelerated development of its current portfolio of mining projects in Africa’, Marula says, while the Relationship deal sets out the terms of the relationship between Q Global, Marula and its AQSE corporate adviser.
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