VVV Resources Ltd - investor focused on identifying opportunities in the precious metals and base metals sector - Signs share purchase agreement to acquire the Mitterberg copper project in Austria. Explains this agreement supersedes a previous SPA signed in March 2022. Pays GBP350,000. Notes an outstanding loan related to the previous SPA and recent legal costs associated with the current SPA of GBP20,000 have been deducted from the purchase price. The remainder consideration comprises GBP297,000 payable in VVV shares priced at GBP0.10 each, plus a GBP33,000 cash payment.
The Mitterberg copper project is located approximately 60 kilometres south of Salzburg, Austria and comprises 198 contiguous exploration licences over an area of some 90 square kilometres. It is considered the largest copper occurrence in the Eastern Alps and is considered a brownfield site.
Current stock price: 10.00 pence
12-month change: down 85%
By Jeremy Cutler, Alliance News reporter
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