BRIEF-Lion One Metals updates on Tuvatu Gold Project

Wed Aug 24, 2016 5:25pm EDT
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Aug 24 (Reuters) - Lion One Metals Ltd

* Announces Mou For EPC Contract And Vendor Financing With Ansteel Capitalasia for construction of the Tuvatu Gold Project

* Lion one announces mou for epc contract and vendor financing with Ansteel-Capitalasia for construction of the tuvatu gold project

* Company will fund a minimum of us$10 million or approximately 20% of anticipated value of epc contract

* Ansteel will provide vendor financing for up to 80% of anticipated value of epc contract in form of a deferred payment amount

* Deferred payment amount by Ansteel of about $39 - $44 million Source text for Eikon: Further company coverage: