Greatland Gold PLC (LON:GGP) and shareholder Metal Tiger PLC (LON:MTR) are to work together over the next 12 months to find new projects in Australia and Asia.
Metal Tiger will inform Greatland of early-stage exploration projects it considers attractive but too early stage for its own portfolio while Greatland will refer projects it considers too large or complex to Metal Tiger.
If all goes well, the companies may form an Australia-listed company to focus on precious and strategic base metals.
Callum Baxter, Greatland’s executive director, said while mining prices had recovered recently valuations on early stage exploration assets, particularly unlisted private assets, remain relatively depressed.
The memorandum of understanding will provide Greatland with a significantly expanded set of attractive opportunities in the precious and strategic base metal sectors over the next few years, he added.