Excalibur Mining Corporation Limited has entered into an agreement with Maybach Mining Services and Pinto Minerals Limited to conduct due diligence on a Manganese deposit in early stage production in Zambia.
The Company and Pinto Minerals have agreed to buy and Maybach Mining Services’ shareholders have agreed to sell 75% of their shares in the capital of Maybach.
The acquisition will include an existing small production of Manganese in Zambi and is subject to due diligence and shareholder approval.
Excalibur Mining Corporation reported that the lease will be in the proximity of the processing plant. The Company will be funding any extra equipment required to increase production.
Excalibur Mining Corporation has signed a Memorandum of understanding with Maybach Mining Services in Zambia.
Excalibur Mining Corporation Limited is an ASX listed mineral exploration company with operations inZambia.
