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Miner branches out into timber industry
19-June-08
Written by Edited announcement
Subiaco-based gold and copper explorer Red Emperor Resources NL has branched out into the timber industry after signing an agreement with its Russian partners to harvest a resource in the country.
The company has signed a memorandum of understanding whereby the unnamed Russian partners will provide the opportunity to acquire a 100 per cent interest in a licence of a timber project.
Under the terms of the agreement Red Emperor will acquire a 100 per cent interest in the project by paying EUR5 million to the partners and the issue of 30 million Red Emperor shares for consideration.
Article continues...
19-June-08
Written by Edited announcement
Subiaco-based gold and copper explorer Red Emperor Resources NL has branched out into the timber industry after signing an agreement with its Russian partners to harvest a resource in the country.
The company has signed a memorandum of understanding whereby the unnamed Russian partners will provide the opportunity to acquire a 100 per cent interest in a licence of a timber project.
Under the terms of the agreement Red Emperor will acquire a 100 per cent interest in the project by paying EUR5 million to the partners and the issue of 30 million Red Emperor shares for consideration.
Article continues...
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Harry Kleyn - Publisher
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