Beaufield Signs Exclusivity Agreement and LOI for Purchase of the Balmat Zinc Mine in New York State
Beaufield Resources Inc. (BFD.V) has signed an exclusivity agreement and a non-binding letter of intent with HudBay Minerals Inc. (HBM.TO) to acquire the Balmat Zinc Mine in New York State for $12 million and up to $2 million in initial equity of Beaufield
The LOI and Exclusivity Agreement give Beaufield 90 days to complete its confirmatory due diligence review, negotiate a definitive agreement, and close the Acquisition based on the terms provided for in the LOI.
Hudbay is down 32 cents to $10.62 late morning.
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