RMA Energy Ltd will allow an unnamed Chinese company to undertake independent evaluation of its Coane Range and McCauley Creek uranium and base metals tenements ahead of formal discussions, the Perth-based company has announced.
The full text of a company announcement is pasted below
Australian diversified resources company RMA Energy Limited ("RMA" or "the Company") recently hosted a delegation of senior executives from a China based Fortune 500 company at its 100% owned Coane Range and McCauley Creek Tenements ("McCauley Creek") in Queensland, Australia.
As a result of this site visit, the board of RMA will now commence detailed discussions with the Chinese group which may lead to the signing of a more formal business arrangement.
In the meantime, the Company has agreed to the Chinese sending representatives from its technical team to McCauley Creek and Coane Range to undertake independent evaluation of these areas.
The Board of RMA emphasises that these are not as yet exclusive negotiations, and may or may not result in the Company entering a formal Joint Venture Agreement with this group, however the Company felt it appropriate to make this statement so as to ensure it fulfills its on-going obligations regarding continuous disclosure.
Should negotiations between the parties progress to a more formal level, the company will advise the market accordingly.
