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Allion mines joint venture opportunity
Allion Legal acted for Perpetual Mining Holding Limited as it entered a proposed joint venture with Mindax.
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Firms: Allion Legal (Perpetual Mining Holding Limited); Williams & Hughes (Mindax Ltd)
Area: M&A
Value: $52.3million
Key players: Principal Simon Rear (pictured) and senior associate Michael Jools acted for Allion Legal
Deal significance: This joint venture will be effected by way of a 51 per cent equity investment in Mindax’s subsidiary, Yilgiron Pty Limited, which holds the Mt Forrest Iron Project tenements. As part of the transaction, PMHL will also participate in a $2.5 million placement of Mindax shares. Allion Legal principal Simon Rear commented: “It has been a pleasure to work with PMHL on this very strategic and important investment in the development of another iron ore resource in Western Australia. We look forward to working with PMHL in the future to assist the joint venture entity, Yilgiron, in achieving production of DSO from the Mt Forrest Tenements.”
