Alexander Mining has signed a marketing agreement with Dr. Jadambaa Temuujin for the potential commercial adoption of its leaching technologies in Mongolia.
The agreement has an initial term of two years, with a rolling mutually agreeable six monthly extension thereafter.
Chief executive Martin Rosser said: “Mongolia, with its favourable location adjacent to China, is a noted mining country and is highly prospective for the discovery of new mineral deposits. We greatly look forward to working with Dr. Jadambaa Temuujin as our agent to capitalise on the country’s growing mining industry.”
Under the Agreement, if Temuujin introduces an opportunity which leads to Alexander executing a commercial technology licencing agreement and it receiving licencing revenue, then it will pay Temuujin a commission fee from the licensing revenue for the first three years of licence commercial use.
At 1:35pm: (LON:AXM) Alexander Mining PLC share price was +0.03p at 0.21p
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