80 Mile Plc Completes Acquisition of FinnAust Mining Finland
Why we think this is neutral
This RNS announcement provides an update on 80 Mile Plc's acquisition of FinnAust Mining Finland, but does not contain any of the mandatory news types that would require a more detailed analysis. The company is divesting its Finnish copper assets while retaining rights to industrial gases, which appears to be in line with its strategic focus.
Key Points
- 80 Mile Plc has executed a Share Purchase Agreement to sell its Finnish copper assets to Metals One Plc
- 80 Mile retains 100% of the rights to any industrial gases associated with the projects
Summary
80 Mile Plc has executed a Share Purchase Agreement for the sale of its wholly owned subsidiary, FinnAust Mining Finland Oy, to Metals One Plc. FinnAust Mining Finland Oy holds the Hammaslahti Copper-Zinc Project and the Outokumpu Copper Project in Finland, both of which are associated with historic copper mines. 80 Mile will retain 100% of the rights to any industrial gases, including helium and hydrogen, associated with the projects.