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Article: Great Western Minerals Group Makes Second Option Payment on Steenkampskraal Project.
- Article from:
- Marketwire Canada
- Article date:
- September 25, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SASKATOON, SASKATCHEWAN, Sep 25, 2009 (Marketwire via COMTEX) -- Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") is pleased to announce that, under the terms of the option agreement between the Company and Rare Earth Extraction Co. Ltd. ("Rareco") to refurbish, recommission and operate the former-producing Steenkampskraal Mine, the Company has now paid the second option payment of R500,000 (US$62,500) to Rareco.
GWMG and Rareco will now enter a period of further due diligence and the negotiation of a supply agreement under which 100% of the rare earth ore mined and processed will be made available to GWMG. In ...