The company has also exercised its options to purchase the historical Horseshoe South Manganese Mine and manganese rights over adjoining ground.
() has executed a “game-changing” $7.3 million manganese farm-in agreement with OM Holdings Limited () covering manganese in the company’s Bryah Basin project.
A farm-in and joint venture agreement has been signed with OM (Manganese) Ltd (OMM), a wholly-owned subsidiary of OM Holdings, a regional leader in the manganese industry.
Shares are up almost 17% at midday to 7.6 cents.
OMH seeks new sources
Bryah’s managing director Neil Marston said: “The execution of this agreement with the highly regarded OMH Group is a game-changing event for Bryah and its shareholders.
“OMH Group has manganese mining expertise and is seeking new sources of manganese ore to replace its Bootu Creek production in the near future.”