PELA Executes US$5 Million U.S. Government Project Development Funding Agreement [Yahoo! Finance]
ASX LTD UNSP/ADR (ASXFY)
NASDAQ:AMEX Investor Relations:
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Company Research
Source: Yahoo! Finance
application and approval process, the Company has executed a Project Development Funding Agreement (Agreement) with the U.S. International Development Finance Corporation (DFC). The Agreement provides up to US$5 million in project development funding to support and advance PELA's flagship Krstov Dol Antimony Mine Restart Project (KDM) in North Macedonia. The funding represents a significant milestone in PELA's strategy to become a near-term supplier of critical minerals to allied markets. The Agreement provides funding support for defined project development activities at KDM, including the preparation of a Mineral Resource Estimate to be reported in accordance with the JORC Code, completion of an Environmental and Social Impact Assessment, and progression of the project toward feasibility. The project is underpinned by historical mining activity and a substantial body of historical geological and technical data, including historical mineral resource and reserve estimates prepared
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