will continue to develop the Malala Molybdenum Project whilst pursuing various DSO Nickel opportunities.
Additionally, CGGC have indicated their interest in securing an off-take and supply agreement for DSO Nickel from the USSU Nickel Project which is currently in the process of being acquired by VWM
. The parties have agreed to enter into good faith negotiations as the project continues to advance towards production.
After undertaking preliminary technical due diligence, VWM
has entered into a Termsheet with the vendors of PT Noviendindo Multi Resources ("NMR") and secured the right to acquire a 75% equity interest in NMR which holds the Project.
Chief Executive Officer Rob Hyndes said the data re-evaluation has demonstrated that the project offers great potential for value adding options to be explored over and above its known DSO potential.
Primara Utama Lestari ("PT PUL") and VWM
has agreed to acquire Oceantides rights to acquire the 70% equity interest in PT PUL by;
Perth, Australia, Oct 21, 2010 - (ABN Newswire) - Victory West Moly Limited (ASX:VWM) ("VWM
" or the "Company") confirms that on 21 October 2010, the Company entered into a Share Acquisition Agreement with the shareholders of Victory West Pty Ltd (Victory West) to formalise its agreement to acquire the remaining 25% of their shares in Victory West as previously announced.
holds a majority interest (71.25%) in the exploration rights to the 'Malala Molybdenum Project' comprising of 5 strategic concession areas (IUP's under the new Indonesian mining law) in the Toli-Toli Regency on the island of Sulawesi in Indonesia covering a total area of 23,747Ha.
Perth, Australia, Sep 3, 2010 - (ABN Newswire) - Victory West Moly Limited (ASX:VWM) (FRA:R1E) ("VWM
" or the "Company") is pleased to announce the signing of a binding Memorandum of Understanding ("MOU") with China Guangshou Group Corp ("CGGC") that, subject to due diligence, is to acquire a 65% interest in the Malala Molybdenum Project.