Sandfire is acquiring all the issued shares of MOD Resources, which owns the T3 copper project in Botswana
() confirmed it is to receive 6.3mln new shares in Sandfire Resources (), after the approval of the takeover of MOD Resources Ltd.
The Supreme Court of Western Australia ratified the deal yesterday.
Sandfire is acquiring all the issued shares of MOD Resources at a ratio of 0.0664 Sandfire shares for each MOD share.
MOD, in which Metal Tiger holds a 19.9% interest, is the owner of the T3 copper project in Botswana.
Metal Tiger will also be granted its 2% net smelter royalty over the exploration joint venture area.
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