Fortescue relies on white hydrogen and invests 21.9 million dollars in HyTerra. $FMG (+1,11 %)
HyTerra increases Nemaha shareholding after EMG gives green light to Fortescue acquisition.
HyTerra increases Nemaha acreage by >15% to over 60,000 acres
Expanded land holdings will support upcoming significant exploration supported by Fortescue following an EGM
Three additional drill sites have been approved and work will commence at the Blythe 13-10 site.
Special Report: With Fortescue's 39.66% acquisition now complete, HyTerra has demonstrated its confidence in the Nemaha Hydrogen Project by acquiring approximately 8,000 new acres of land.
It adds to the 13,000 acres acquired in mid-October 2024 and brings the total leasehold to over 60,000 acres fully owned.
This significantly larger landholding will support HyTerra Limited's (ASX:HYT) upcoming significant exploration campaign, which is backed by a US$21.9 million investment from Andrew Forrest's Fortescue, now sealed after shareholders gave the green light at an extraordinary general meeting on Friday.
The strategic alliance agreement between the two companies is aimed at advancing the wholly owned project while exploring new opportunities globally. Fortescue's funds are already earmarked for an expanded drilling campaign over the Nemaha Ridge.
