Sandfire exercises option to enter JV on Red Mountain

Company News

by Rachael Jones

White Rock Minerals (ASX:WRM) is pleased to announce that Sandfire Resources NL (ASX:SFR) has exercised its option under the subscription agreement enter into a Joint Venture Agreement with White Rock regarding their high-grade zinc and precious metals.

White Rock commenced a strategic relationship with Sandfire in July 2018 in relation to White Rock's Red Mountain Project in Alaska.

In addition to the $2.5 million equity contribution under the Subscription Agreement, Sandfire has also previously provided an unsecured $1 million convertible loan to White Rock.

Sandfire Resources NL (ASX:SFR) are trading 2.37 per cent higher at $6.47.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.