Developing & Sourcing Precious Metals in Partnership with UAE Firm
Britannia Mining, Inc. announced today, that the Company has executed a MOU with a prominent gold investment holding company in the United Arab Emirates (“UAE”), to forge a partnership which will broaden Britannia’s ability to fund, mine and trade precious metals.
The MOU establishes a relationship between the Dubai and UK based firms, whereby the parties have commenced an evaluation of several acquisition targets and gold trading opportunities. This has been set with a view to enter into a number of joint venture arrangements along with sales and purchase contracts.
“The UAE company is a thriving group that is constantly seeking new companies to join forces with to mutually expand within the precious metals space,” stated Kenneth Roberts, CEO of Britannia Mining. “The tie up with Britannia should prove to be beneficial to both parties.”
Britannia comes to the table with its Yukon gold projects in tow and a pipeline of operating acquisition targets as well as physical gold trading opportunities – immediately demonstrating the company’s ability to source and grow significant and valuable gold projects. With the Dubai firm already having related parties throughout the UAE, South America, Europe, as well as across the Arabian Gulf, Britannia’s reach within Africa and North America provides both parties ample opportunity to expand into new territories.
The multi-billion dollar UAE firm, holds an integrated portfolio of gold assets from mining operations through to trading activities.
“For Britannia, a highlight of this relationship is that we will strengthen our position to acquire and develop a number of gold opportunities, with a view to supply an established gold buying network,” continued Mr. Roberts. “The UAE group will look to provide resources to develop and purchase gold from prospects supplied by Britannia, which is good news for our pipeline projects including the company’s Yukon gold claims. We also have the opportunity to act as the partnership’s intermediary in Forward Purchase gold contracts; which speaks directly to our near term income prospects.”
Mr. Roberts concluded, “We have worked diligently to further our strategic plan; primarily focused on generating near term revenues along with finalizing a credit line of $30 Million from REM Capital. This MOU, along with the anticipated outcomes, brings us closer to delivering on our strategic plan this third quarter.”
- 23 Jul, 2014
- 0 Comments