Ly­nas talks con­firmed

Townsville Bulletin - - Investor -

RARE earths ex­plorer Ly­nas Cor­po­ra­tion Ltd says it is in talks about its Crown poly­metal­lic de­posit at Mount Weld in West­ern Aus­tralia amid spec­u­la­tion it may sell the as­set to Forge Re­sources Ltd. A re­port claimed Forge, a ju­nior min­eral and en­ergy ex­plorer, was set to raise about $ 30 mil­lion to buy the de­posit from Ly­nas. In en­ter­ing a trad­ing halt on Mon­day, Forge said it was work­ing to com­plete ‘‘ ne­go­ti­a­tions associated with the pur­chase of a ma­te­rial pro­ject and associated cap­i­tal rais­ing’’. Ly­nas con­firmed it was in dis­cus­sions about the Crown de­posit.

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