Future Metals signs strategic infrastructure MoU with Zeta Resources for Savannah plant
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Update time : 2025-04-14 16:02:56
Future Metals NL, a mining exploration company based in Australia, has reached a strategic infrastructure-based non-binding Memorandum of Understanding (MoU) with a resources-focused investment company Zeta Resources, with a placement and planned rights issue raising up to A$4.2 million before costs. Zeta Resources has agreed to acquire a 9.99% stake in the company as part of this arrangement.
The MoU was to explore potential for the strategic use of the mothballed Savannah plant to process Eileen Bore copper-nickel-platinum group elements (Cu-Ni-PGM) and Panton PGM ore bodies.
The funds raised would be mainly used to advance the development of the Eileen Bore Cu-Ni-PGM deposit, which was intended to provide a large source of copper raw materials for the Savannah plant.
