AcroMeta's Subsidiary Forays into Nickel Trading in Indonesia
MT Newswires
Jan 22
AcroMeta's (SGX:43F) subsidiary, AcroMeta Minerals, signed a non-binding term sheet with Esa Jaya Labdagati for a proposed partnership to focus on nickel trading activities in Indonesia, according to a Thursday filing with the Singapore Exchange.
Esa Jaya is a nickel trading company that owns a nickel concession in South Konawe, Sulawesi, Indonesia.
Under the term sheet, AcroMeta will provide funding of up to SG$2 million and has a six-month option to acquire 51% interest in the nickel concession at SG$0.06 per share.
The move is part of the company's strategy to selectively invest in global nickel value chain.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.