Viking Mines (ASX:VKA) signed a drill-for-equity agreement with Topdrill, allowing the company to pay invoiced drilling costs through the issuance of shares, according to a Wednesday filing with the Australian bourse.
Under the deal, the company can issue 25 million shares for 40% of drilling costs at the Riverina East project in Western Australia, up to a maximum of AU$1 million, the filing said.
The agreement will expire on Oct. 31, according to the filing.
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