03/06/2008 - 15:55

Minemakers acquires Wonarah project

03/06/2008 - 15:55

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West Perth based company Minemakers Ltd has gained full ownership of the Wonarah Phosphate Project from Indo Mines Ltd.

Minemakers acquires Wonarah project

West Perth based company Minemakers Ltd has gained full ownership of the Wonarah Phosphate Project from Indo Mines Ltd.

The deal involves Minemakers acquiring an outstanding 10 per cent stake for $2 million cash and 3 million fully paid Minemaker shares.

Minemakers managing director, Andrew Drummond, said "This transaction will deliver 100 per cent ownership of the Wonarah Project, and thereby give certainty and avoid potential joint venture issues relating to development and management of the project."

 

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