Thursday, February 25, 2021

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Adriatic Metals: Completes RAS Metals buyout

  • Precious and base metals explorer Adriatic Metals (ADT) has consolidated its landholding in Serbia by acquiring the remaining 90 per cent of RAS Metals
  • The company previously owned a 10 per cent stake through an option agreement held by its subsidiary Tethyan Resource Corp
  • Upon exercising its option to acquire the remaining interest, Adriatic paid just over €1.36 million (roughly A$2.1 million) and also issued 166,000 shares to the vendors of RAS Metals
  • An additional 25,000 metres of step-out drilling has planned over the course of this year
  • With the acquisition complete, Adriatic now wholly owns the Kizevak and Sastavci exploration licenses which together comprise the Raska Project
  • Adriatic Metals up 4.59 per cent to $2.28 per share

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