Viking Mines To acquires Flinders Mines’ (ASX:FMS) Canegrass project
- Viking Mines (VKA) is set to earn a 99-per-cent interest in the Canegrass battery minerals project in Western Australia
- The company has entered a farm-in arrangement with Flinders Mines (FMS) to acquire a majority stake in the project, which it believes has “significant potential to add value”
- Viking Mines needs to spend $4 million on exploration over 54 months and will also have to make staged payments totalling $1.25 million in cash
- The company is now undertaking comprehensive activities to better understand the project and plan future exploration
- Viking shares are up 11.1 per cent to trade at one cent at 3:59 pm AEDT, and Flinders shares are down 9.8 per cent to trade at 46 cents
