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23-Apr-2019

Proactive Investors

Bryah Resources (ASX:BYH) managing director Neil Marston updates Proactive Investors on the company's "game-changing" new joint voint venture with OM Holdings Ltd (ASX:OMH), giving Bryah the ability to earn a 51% interest in manganese mineral rights over 600 square kilometres.

Marston says the company took advantage of OMH Group’s search for new manganese ore to replace its Bootu Creek production.

He adds that exercising Bryah’s option to buy the historical Horseshoe South Manganese Mine gives it exposure to a mine that produced about one million tonnes of high grade manganese ore from 1948-1969 and 2008-2011.

23-Apr-2019

Proactive Investors

The company has also exercised its options to purchase the historical Horseshoe South Manganese Mine and manganese rights over adjoining ground.

Bryah Resources Ltd (ASX:BYH) has executed a “game-changing” $7.3 million manganese farm-in agreement with OM Holdings Limited (ASX:OMH) 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.”

23-Apr-2019

Manganese miner Bryah Resources (ASX: BYH) has done a deal with fellow manganese miner OM Holdings (ASX: OMH) to spend up to $7.3 million to earn up to a 70% interest in Bryah’s flagship West Australian project. OM has already paid a $250,000 signing fee and will have paid another $750,000 by August in an exercise fee and project expenditure.

OMH will then have to spend $2 million by 30 June 2022 to earn 51 per cent and further targets, which take the total to $7.3 million have been set with a relevant stake but without a time frame. Drilling will commence in early May. Bryah Managing Director Neil Marston has declared the deal ‘a game-changing event’ for the company.

23-Apr-2019

WITH a promising outlook for manganese demand, Bryah Resources has struck a A$7.3 million deal with OM Holdings under which the ASX-listed miner can earn up to 70% in Bryah’s namesake project in Western Australia, which will immediately be expanded to include 154sq.km around the Horseshoe South mine.

23-Apr-2019

OM Holdings (ASX: OMH) will earn up to 70% of Bryah Resources’ (ASX: BYH)manganese rights at the flagship Bryah Basin project in Western Australia under a new joint venture, which paves the way for the duo to fast-track the discovery and development of a commercially mineable manganese deposit within the project.

Integrated manganese miner and processor OM Holdings will spend $7.3 million on manganese exploration across the 660 square kilometre project, which will be broken down into various milestone payments, including an already paid $250,000 signing fee.

23-Apr-2019

OM Holdings has executed a manganese joint venture agreement with Bryah Resources as the latter has purchased a mining lease including the historic Horseshoe South mine in Western Australia.

Perth-based Bryah’s acquisition includes the rights to prospect, explore, mine and develop manganese ore covering a further 154 square kilometres of ground within the Bryah Basin.

23-Apr-2019

Bryah Resources (ASX:BYH) managing director Neil Marston updates Proactive Investors on the company's "game-changing" new joint voint venture with OM Holdings Ltd (ASX:OMH), giving Bryah the ability to earn a 51% interest in manganese mineral rights over 600 square kilometres.

Marston says the company took advantage of OMH Group’s search for new manganese ore to replace its Bootu Creek production.

He adds that exercising Bryah’s option to buy the historical Horseshoe South Manganese Mine gives it exposure to a mine that produced about one million tonnes of high grade manganese ore from 1948-1969 and 2008-2011.

23-Apr-2019

Perth – ASX-listed junior Bryah Resources has struck a farm-in and joint venture (JV) agreement with fellow-listed OM Holdings to hunt for manganese on the Bryah Basin project.

Under the terms of the agreement, OM will spend up to A$7.3-million to earn a 70% interest in the manganese mineral rights of the Bryah Basin project, in Western Australia.

23-Apr-2019

Bryah Resources Limited (ASX: BYH) is a metals and mining company, which is primarily focused on copper-gold-manganese. It has two projects situated in central Western Australia namely; the 200km2 Gabanintha Project and the 880 km2 Bryah Basin ProjectOn 23rd April 2019, Bryah Resources announced that it has exercised options to purchase the mining lease for the Horseshoe South Manganese Mine including the rights, with which the company can prospect, explore, mine and develop manganese ore.

23-Apr-2019

OM Holdings has executed a manganese joint venture agreement with Bryah Resources as the latter has purchased a mining lease including the historic Horseshoe South mine in Western Australia.

Perth-based Bryah’s acquisition includes the rights to prospect, explore, mine and develop manganese ore covering a further 154 square kilometres of ground within the Bryah Basin.

The tenements are subject to the manganese farm-in and JV agreement between Bryah and OM Manganese, a subsidiary of OM Holdings.