https://www.miningweekly.com

Newcrest firms up Alice Queen plans

10th April 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Newcrest has firmed up plans to hunt for gold in New South Wales, replacing a previous heads of agreement with ASX-listed Alice Queen, with a formal option and farm-in agreement.

Subject to conditions, Newcrest will have the option to obtain the right to an interest in the Mendooran project tenements by spending some A$2-million on exploration within the first two years of the agreement.

Subject to meeting the minimum expenditure, Newcrest can earn the right to a 51% interest in the project by spending a further A$3-million over the next two years.

Subject to completing the first earn-in, Newcrest will then have the right to earn a further 29% interest in the project by spending a further A$5-million during the 60 months immediately following the Stage 1 earn-in.

The agreement is conditional upon the partners agreeing on the terms and scope of a minimum commitment.

Edited by Creamer Media Reporter

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.134 0.173s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: