Minotaur divests of WA nickel assets

Junior Minotaur Exploration has signed a binding conditional term sheet with fellow-listed Auroch Minerals to divest of its Scotia and Leinster nickel assets, in Western Australia, in a deal valued at A$1.5-million.

Under the terms of the agreement, Auroch would pay Minotaur A$1.4-million, payable in 233-million Auroch shares, as well as a deferred A$100 000 cash payment, which will be paid on Auroch’s next capital raising.