Common Contracts
1 similar Option Deed contracts
POSEIDON & KIDMAN SIGN LAKE JOHNSTON LEASE AGREEMENTOption Deed • November 16th, 2016
Poseidon Nickel Limited (ASX:POS, Poseidon or the Company) is pleased to announce it has entered into an exclusive Option Deed (Agreement) with Kidman Resources Limited (Kidman) to lease the Lake Johnston facility for processing Mt Holland spodumene lithium hosted pegmatites. Poseidon Chairman, Mr Chris Indermaur stated, “Securing the agreement with Kidman is a significant milestone for the Company as it will potentially deliver a minimum of $6M per year in cash for the duration of the contract. Whilst Poseidon remains focussed on developing its nickel assets, the Company believes the agreement with Kidman offers shareholders a unique opportunity to deliver cash back to the business with little downside risk.”
