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Tertiary Minerals eyes historic Norwegian fluorspar project

Aluminium group Hydro has agreed to sell the asset to Tertiary for a nominal NKr1

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Tertiary has 12 months to carry out due diligence on the acquisition

Fluorspar specialist Tertiary Minerals plc (LON:TYM) has agreed in principle to acquire the land and historic mine workings at the Lassedalen project in Norway.

Aluminium group Hydro has agreed to sell the asset for a nominal NKr1, with Tertiary having 12 months to complete due diligence and a fourteen month exclusivity period.

Richard Clemmey, managing director said:  "The potential land acquisition represents a significant milestone for our Lassedalen fluorspar project, as well adding value to the project, the transaction strengthens the long term security of tenure and reduces future royalty exposure".

Quick facts: Tertiary Minerals PLC

Price: 0.265 GBX

AIM:TYM
Market: AIM
Market Cap: £1.17 m
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