AMN - SOUTH AFRICA: Handa closes copper transaction

Handa Mining Corporation has closed the agreement to build a processing plant to recover copper at the Nababeep Copper Oxide Project in Northern Cape Province of South Africa. This will be recovered from the copper oxide waste materials, broken rocks lying on the surface.

The company can earn 65% of the profits generated by the processing plant for the first two years of production from the plant, by building the plant, and by issuing an aggregate of 5.15 million common shares and paying a total of US$15,000.

After two years, the company will receive a third of the profits.

Handa Mining’s group of lenders who loaned US$350,000 to the company in April 2019 will be entitled to 35% of the profits received by the company.

The transaction is subject to final acceptance of the TSX Venture Exchange.

Handa Mining Corporation is a mining and development company that is developing the flagship Mejillones Phosphate Project in Chile in order to bring the project into production and generate cash flow.

As part of its revitalised strategy, the company is also pursuing joint venture opportunities in order to gain further exposure to surface mining opportunities which are very close to or in production.

www.handamining.com