Buxton Resources Forms Joint Venture with IGO; Shares Down 3%

MT Newswires Live

2024/10/14

Buxton Resources (ASX:BUX) said miner and explorer IGO (ASX:IGO) acquired a 51% interest in the Copper Wolf joint venture tenements in the US, according to a Monday filing with the Australian Securities Exchange.

IGO met the first stage earn-in requirement of the Copper Wolf agreement with an expenditure of AU$350,000, the filing said.

The companies have formed a joint venture, with Buxton Resources holding the remaining 49% stake. IGO may earn a further 19% interest by spending AU$5 million in exploration.

Buxton Resources shares fell past 3% in morning trade on Monday.

Price (AUD): $0.06, Change: $-0.002, Percent Change: -3.23%

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