Fasken advised the majority shareholders in World Titane, AMED Funds and Boulle Titanium, regarding the investment by Base Resources in the Toliara Sands Project in Madagascar with initial consideration consisting of US$75 million and a further deferred sum of US$17 million payable on achievement of key milestones as the project advances to mine development. The Toliara Sands Project is considered to be one of the best mineral sands development projects in the world. It is a large, high-grade Mineral Resource of 857 million tonnes at 6.2% heavy mineral, with 612 million tonnes in the Measured and Indicated categories at 6.7% heavy mineral.
Fasken’s Al Gourley advised World Titane’s majority shareholders, AMED Funds and Boulle Titanium, regarding this transaction.
