Southern Hemisphere Mining Limited (ASX:SUH) Finalises Joint Venture with FMR Resources
Joint Venture Details
Southern Hemisphere Mining Limited (ASX: SUH) announced that FMR Resources Limited (ASX: FMR) has completed technical due diligence to earn up to a 60% interest in four selected concessions of the Llahuin Copper-Gold Project in Chile, including the Southern Porphyry Copper-Gold Target.
Financial Update
The transaction includes a $2.2 million placement by FMR, resulting in Southern Hemisphere Mining holding $4.2 million in cash post-placement. Mark Creasy joins the FMR register as a substantial shareholder following the successful placement.
Exploration Plans
The JV provides shareholders with exposure to an aggressive exploration program, featuring deep drilling planned for Q4 2025 targeting the Southern Porphyry Copper-Gold prospect.
Executive Comments
SUH Chairman Mark Stowell stated, “We are delighted to welcome FMR to the Llahuin Copper-Gold Project and look forward to joint exploration success across the Southern Porphyry zone. This strategic JV validates our long-held view of the district’s latent potential, and with drilling planned for Q4 2025. Our shareholders are well-positioned to benefit from upcoming catalysts in this emerging major copper story.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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