Future Metals acquires Osprey Minerals to expand East Kimberley region exploration

Future Metals NL has officially exercised its option to acquire 100% of Osprey Minerals Pty Ltd, a move that expands its exploration activities in the East Kimberley region of Western Australia. The acquisition involves upfront consideration of 18,382,352 new FME shares and deferred payments, enhancing Future Metals’ project portfolio in the region.

Shareholder Considerations and Future Prospects

Osprey shareholders will receive the upfront consideration within the next five business days, subject to a six-month escrow period. Additionally, Future Metals has committed to deferred payments to Osprey shareholders, based on the drilling milestones achieved on the Osprey tenements. This structured payment approach aligns with Future Metals’ strategic exploration goals.

Strategic Importance of the Acquisition for Future Metals

Future Metals’ Managing Director, Jardee Kininmonth, expressed satisfaction with the closing of the transaction, emphasizing the complementary nature of the acquired tenements to their existing projects. The acquisition includes the Eileen Bore prospect, a significant exploration target within the Osprey tenement package. Kininmonth looks forward to updating the market on forward plans for these projects.

Overview of Future Metals and Osprey Minerals’ Operations

Future Metals NL is focused on advancing its Panton PGM Project in Western Australia, a region recognized for its potential in copper, nickel, PGE, cobalt, and graphite mineralization. Osprey Minerals’ exploration tenements, now part of Future Metals, are located within close proximity to the Panton Project, offering significant exploration opportunities.