MMG to earn interest in Segue project

Base metals miner MMG has signed a joint venture (JV) agreement with ASX-listed Segue Resources over the Plumridge nickel project, in the Fraser Range. Under the terms of the agreement, MMG would earn an initial 51% interest in the project by spending A$6.5-million on exploration over the next four years. The company could then elect to increase its shareholding in Plumridge to 70% by spending a further A$7.5-million within two years.