FINWIRES · TerminalLIVE
FINWIRES

Locksley Resources Enters Into Option Agreement With Sky Metals Unit; Shares Up 7%

By

Locksley Resources (ASX:LKY) entered into a binding option agreement with Balmain Minerals, a unit of Sky Metals (ASX:SKY), to acquire a 100% interest in the Iron Duke project in New South Wales, according to a Thursday filing with the Australian bourse.

The deal involves an option fee of AU$100,000 for nine months and an initial consideration of AU$500,000 on exercise of the option, the filing said.

A further consideration of AU$500,000 is also due upon the delineation of a JORC Code-compliant mineral resource of at least 3 million tonnes graded at 1% copper equivalent or higher, or upon sale or transfer of the project, per the filing.

Locksley Resources shares rose 7% in morning trade on Thursday. Meanwhile, Sky Metals shares were up 5%.

Related Articles

Asia

WiseTech Global Share Price Expected to Face Pressure After Largest Customer Signals Move Away from WiseTech Global's CargoWise, Jefferies Says

WiseTech Global's (ASX:WTC) share price is expected to come under pressure after DSV, one of its largest customers, decided to consolidate its air and sea transport management systems, transitioning away from CargoWise, Jefferies said in a Tuesday note.DSV confirmed its strategic shift from CargoWise to Schenker's Tango. However, this could be a multi-year journey, and DSV continues to migrate Schenker users into CargoWise.DSV spends about $150 million per year on CargoWise, representing around 9% of WiseTech's revenue and around 10% of earnings before interest, taxes, depreciation, and amortization (EBITDA) in fiscal 2027.The investment firm retained WiseTech Global's buy rating and AU$72 per share price target.

ASX:WTC
Asia

Ganfeng Lithium Cancels Stock Options on Missed Target; Shares Fall 4%

Ganfeng Lithium (SHE:002460, HKG:1772) canceled 551,250 stock options after failing to meet company performance goals for the fourth exercise period of its 2022 incentive plan.The cancellation was confirmed May 12 via the Shenzhen depository, according to a Wednesday filing with the Shenzhen bourse.The options were tied to fiscal years 2022 to 2025.Shares of the lithium miner fell 4% in recent trade on the Hong Kong bourse.

HKG:1772SHE:002460
Asia

South Korea to Raise Safety Inspections on Overseas Direct Purchases

South Korea plans to increase safety inspections on its overseas direct purchase on concerns about the influx of hazardous products amid an increase in cross-border e-commerce and online sales, the Office for Government Policy Coordination said in a Wednesday release.Safety inspections will be raised to over 2,000 by 2028 from about 1,000 cases in 2025.The government plans to boost inspection by applying data and AI across the entire product safety lifecycle and shifting toward preventive regulation, the release said.The initiative outlines four core strategies and 16 key tasks that are aimed at improving public confidence, it said.

^KOSDAQKOSPI