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First Point Minerals reports conversion of Decar Project to joint venture under option agreement.

M2 EQUITYBITES-August 10, 2015-First Point Minerals reports conversion of Decar Project to joint venture under option agreement

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Metal exploration company First Point Minerals (TSX:FPX.TO) said on Friday that it has provided a corporate update on the status of its 40%-owned Decar nickel project located in central British Columbia.

In November 2009, the company signed an option agreement with Cliffs Natural Resources Exploration Canada, an affiliate of Cliffs Natural Resources (NYSE:CLF).

Effective immediately, the structure of project ownership has converted to a contractual joint venture, on pre-agreed terms, with initial ownership interests fixed at the current levels of 60% for Cliffs and 40% for First Point.

As part of the option agreement, First Point will continue to engage with Cliffs to understand the potential impact on the Decar project of ongoing developments, and to explore all available opportunities to maximise First Point's participation in the project's continued advancement.

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Publication:M2 EquityBites (EQB)
Date:Aug 10, 2015
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