viewMetallica Minerals Limited

Metallica Minerals receives royalty from non-core nickel lease in Queensland


Metallica Minerals (ASX:MLM) has entered into a royalty agreement with a privately owned company over its Dingo Dam Mining Lease in Queensland and has received the first $250,000 payment.

The lease is part of the company’s non-core Lucky Break Nickel Project that is directly west of Townsville and to the southeast of its larger SCONI scandium-nickel and cobalt project.

The agreement allows the privately owned company to mine and extract nickel laterite ore from the lease.

The second payment of $200,000 is due six months form the signing date or when a total of 30,000 tonnes of nickel laterite ore is extracted and removed, whichever is later, while the third payment of $200,000  is due 10 months from the start date or cumulative production of 60,000 tonnes of ore.

Metallica can also receive additional payments of $4 per tonne for any tonnages above 130,000 tonnes of nickel ore that is extracted and removed from the royalty area.

The privately owned company is responsible for conducting all mining operations and trucking activities and associated rehabilitation at Dingo Dam.

It is also responsible for keeping the Existing Tenement valid and in force and effect including, lodging in good time, all required reports and paying all fees, rates, royalties, taxes and rental payments due.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Metallica Minerals Limited

Price: 0.011 AUD

Market: ASX
Market Cap: $3.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Market Report: FTSE 100 lower as Super Saturday approaches

Headlines from the Proactive UK newsroom. The FTSE 100 was lower as the excitement of pubs reopening tomorrow and yesterday’s US jobs numbers failed to translate into market gains. The index was 24 points lower at 6,216. Tomorrow is "Super Saturday" when after more than three months in...

49 minutes ago

2 min read