Neometals {ASX: MNT} and Mineral Resources {ASX: MIN} have confirmed that financial close has taken place in their agreed transaction for MIN to acquire another 13.1% of Reed Industrial Minerals from Neometals.

 

Neometals {ASX: NMT} and Mineral Resources {ASX: MIN} advise that financial close occurred today regarding the exercise of a call option by MIN to acquire an additional 13.1% of Reed Industrial Minerals Pty Ltd from Neometals.

 

The companies advise that financial close occurred today with the receipt of US$19.65 million.

 

Neometals’ cash balance now stands at AUS $79.7 million.