Beadell consolidates landholding at Tucano
PERTH (miningweekly.com) – Gold miner Beadell Resources has entered into an agreement to consolidate the land package of its Tucano project, in Brazil.
The company inked an agreement to acquire the issued capital of Mineracao Vale dos Reis (MVR), which currently holds a 30% interest in joint venture (JV) tenements surrounding the Tucano gold project.
Beadell holds the remaining 70% interest in the JV tenements, which cover some 576 km2.
MVR will be paid an initial $300 000 on closing of the transaction, as well as three further payments of $500 000 over a 12-month period from the date of closing. Along with the $1.8-million in cash, MVR will also receive a 0.75% net smelter royalty on any gold or other precious metals produced from the former JV ground.
Licences currently 100% held by Beadell, including the Tucano mining lease, will not be subject to this royalty.
“The MVR transaction is a major step forward and consolidation of such a dominant land position in a very underexplored greenstone belt is very exciting,” said Beadell MD and CEO Simon Jackson.
“We will expand exploration activity onto the former JV ground with a view to not only adding near mine ounces, but also to search for the next Tucano. Coupled with the ongoing exploration in the underdrilled Tucano mine corridor, we believe that the company has considerable scope to continue to add ounces.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation