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Wednesday, 31st December 2008 (1015 views)

A business deal between Slam Exploration and MineralFields has been welcomed by Slam's president and chief executive officer.

Mike Taylor described the deal – under which Slam will pay the other firm a cash-finder's fee equal to five per cent of proceeds raised by MineralFields – as an "important milestone".

"We look forward to working with MineralFields Group as we develop our mineral property interests in Canada," he remarked.

Slam has also amended the terms of its recently-announced non-brokered private placement.

It is set to offer 15 million flow-through units at a price of $0.035 (£0.019) each, for gross proceeds of up to £525,000.

MineralFields claims it is an "industry leader" in managing flow-through investments related to the Canadian resources sector.

It offers individuals such investment deals through exposure to the gold industry and, along with Pathway Asset Management, announced a record rise in assets in 2007.

 

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