Metals miner Independence Group has struck an agreement with ASX-listed junior Boadicea Resources for the conditional sale of nine Fraser Range tenements at a potential sales price of A$57-million plus royalties.
The transaction will include a A$5.5-million up-front, non-refundable cash payment to Boadicea and a A$1.5-million subscription to purchase 6.25-million Boadicea shares at 24c each.