Millennium Minerals (ASX: MOY) has been granted a trading halt by the ASX pending the release of information about the company's future financing arrangements.
The company expects to make an announcement on or before the commencement of trading on Wednesday 24th August.
On 18th August Millennium agreed a farm-in and joint venture with Novo Resources Corp (CNSX: NVO), allowing Nova to farm-in to the non-core Beatons Creek gold project.
The Beatons Creek tenements are not integral to the company's 1.25 million ounce Nullagine Gold Project.
Under the agreement Nova can earn up to a 70% interest in the gold and associated minerals, with the consideration A$500,000 in Nova shares.
Nova is also required to incur expenditures of A$500,000 in the first year, and A$1 million in the second, while procuring a Bankable Feasibility Study in respect to gold rights by the fifth year.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/18825/millennium-minerals-in-trading-halt-pending-financing-announcement-18825.html
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