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Article: Inmet Mining Announces Option Agreement with LS-Nikko to Invest in Cobre Panama Project.
- Article from:
- Biotech Week
- Article date:
- November 11, 2009
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Inmet Mining Corporation (Inmet) (TSX:IMN) announced that it has entered into an option agreement (Option Agreement) with LS-Nikko Copper Inc. (LS-Nikko) under which LS-Nikko has the right to acquire a 20 percent interest (Option Interest) in the Cobre Panama copper project in Panama (Project). If LS-Nikko exercises the option, it will receive an equity interest in Minera Panama, S.A. (MPSA), owner of the Project. LS-Nikko may, prior to January 31, 2010, elect to increase the Option Interest to 30 percent (see also Inmet Mining Corporation).
LS-Nikko is holding the option through a wholly-owned subsidiary, Korea Panama Mining Corp. (KPMC). LS-Nikko has guaranteed ...