China Guangshou Group Undertakes Site Visit To Victory West Moly Limited (ASX:VWM) Malala Molybdenum Project
On the 3 September 2010, Victory West Moly Limited (ASX:VWM) (FRA:R1E) isentered into a Memorandum of Understanding (MOU) with China Guangshou Group Corp ("Guangshou" or "CGGC") that, subject to due diligence, CGGC is to acquire a 65% interest in the Malala Molybdenum Project in consideration for CGGC sole funding 100% of all exploration, development and exploitation costs to meet a number of key exploration, development and production milestones with the objective of taking the Malala Molybdenum Project into commercial and sustainable large scale production by 2016.
