Ferrum Crescent Limited (ASX, AIM, JSE: FCR) Lead-Zinc Project Update Spain.
Appointment of Technical Consultant and Update re Toral Lead-Zinc Project. FCR, the European lead-zinc explorer, is pleased to provide the following update on its activities.
Ferrum Crescent Limited
(“Ferrum Crescent”, the “Company” or the “Group”)(ASX, AIM, JSE: FCR)
Further Nil-cost Extension of Option to Acquire Interests in Lead-Zinc Exploration Projects in Spain
Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that, further to its announcements of 16 February 2016 and 22 July 2016, a second, nil-cost extension has been agreed and entered into in respect of the Company’s exclusive option to acquire 100 per cent. of GoldQuest Iberica, S.L. (“GoldQuest”), the sole owner of the Toral and Lago lead-zinc exploration projects in northern Spain (the “Option”).
Accordingly, the Option is now scheduled to expire on 30 September 2016 (or such later date as the parties may agree) and all other terms announced on 16 February 2016 remain unaltered.
“Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that it has received applications to subscribe for 149,681,797 new ordinary shares in the capital of Ferrum Crescent (the “Subscription Shares”) at a price of £0.0012 per Subscription Share, to raise £179,618 before expenses (the “Subscription”). The Subscription was oversubscribed and closed on Wednesday, 24 February 2016.
Ferrum Crescent presentation concerning the option by to acquire lead-zinc projects in NW Spain.
Ferrum Crescent Ltd Update