The Board of Proto Resources & Investments Ltd (“Proto”, the “Company”) (ASX:PRW) is pleased to announce that discussions with a potential off taker in regards to the 100% owned Barnes Hill mining licence are progressing positively. Through these discussions the company Tianjin Tai Jiang International Trade Co (“Tianjin Tai Jiang”) will explore the potential of working with Proto for the mining potential in iron and nickel mineral production from Barnes Hill Mining Licence 1872 P/M.
Tianjin Tai Jiang are looking to invest into Proto by way of a cornerstone equity investment in ASX listed PRW. This investment will entail the mining plan and development of the proposed iron ore production development planned for the second half of the 2014 calendar year and the production and development of the nickel laterite project on the Barnes Hill Mining Licence 1872 P/M.
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