Minmet, the mining company, has announced the acquisition of an option to purchase a 100 per cent interest in the issued capital of a Brazilian gold property, Mineradora de Bauxita Ltda (MBL). The company said MBL consisted of a series of gold claims covering about 970,000 hectares. "The consideration, if the option is exercised, will involve cash, the issue of 25 million ordinary shares and 7.7 million Minmet warrants exercisable at 8p sterling per share over three years," Minmet stated. The option period runs until June 30th.