Fandango Holdings (LSE:FHP) has executed a non-binding Heads of Terms to potentially acquire a significant interest in a historically productive silver property in Idaho, USA.
The board said the opportunity could provide exposure to a historically productive silver asset in a tier-one mining jurisdiction, subject to satisfactory due diligence and agreement of definitive terms.
It also confirmed that the previously announced potential acquisition of European Battery Metals Pty will no longer proceed because certain key licences had a remaining duration and the company was unable to obtain sufficient certainty regarding their extension.
Fandango, meanwhile, has appointed David Facey as a Non-Executive Director with immediate effect to support the board in relation to the company's ongoing transaction evaluation and financing strategy.
Facey, a founding partner of broker SP Angel, brings more than 25 years' experience advising governments, listed companies and private businesses on complex transactions.
