- Tempest Minerals will be investing AU$1 million in Lole Mining
- The company has had a successful site visit at Tolukuma Mine as part of due diligence process.
- Lole Mining is transitioning Tolukuma from administration and progressing projects
In the latest release, Tempest Minerals Limited (ASX:TEM) has shared an update on the status of the proposed acquisition of Lole Mining Ltd (Lole). The company has been making solid advancement in Lole’s projects based in Papua New Guinea (PNG) in parallel to the ongoing due diligence process.
The Board considers the projects as high potential and has announced that the company will be moving forward with an investment of AU$1M in Lole to aid its acquisition.