ASX-listed PNX Metals has inked a non-binding term sheet with Halifax Capital and its subsidiary Bridge Creek Mining (BCM), which could spur the development of the Fountain Head gold project, in the Northern Territory.
Under the terms of the agreement, BCM could provide a capital investment of A$40-million to fund the acquisition, construction and commissioning of a fit-for-purpose carbon-in-leach processing plant and associated infrastructure for the gold project.