PERTH (miningweekly.com) – The share price of junior Metalicity on Wednesday closed 25% higher after the company flagged a possible corporate transaction with fellow-listed Nex Metals Exploration.
Metalicity and Nex Metals on Wednesday told their respective shareholders that the two companies had initiated discussions around a proposed corporate transaction.
While the discussions were preliminary, the proposed transaction was intended to unlock value at the Kookynie and Yundamindra gold prospects, in Western Australia, and to fast-track a farm-in agreement executed in May last year.
Metalicity shares closed at 0.5c a share on Wednesday.