Tyranna reinforces stake in Challenger gold assets
JOHANNESBURG (miningweekly.com) – Resource and exploration company Tyranna Resources has initiated a formal dispute process as a result of repeated claims allegedly made by emerging gold producer WPG Resources that part of exploration licence 5661, which surrounds South Australia’s Challenger gold mineral lease, does not form part of Tyranna’s operations.
The ASX-listed company, a merger between Trafford Resources and Ironclad Mining, announced on Tuesday that it had initiated the dispute to protect its “leading ownership position” of the gold assets within the tenement immediately surrounding Challenger gold mine in the far north of South Australia.
“The board . . . is aware that in certain market releases made by WPG Resources, an impression has been given that part of exploration licence 5661 (that part which surrounds the original Challenger gold mineral lease – ML 6103) does not form part of the long-established Tyranna Resources/ Challenger Gold Operations joint venture (JV). This is incorrect,” said Tyranna.
The company had written to Challenger Gold Operations and WPG Resources seeking written acknowledgement and confirmation that they each recognise the nature and extent of Tyranna’s interests in the mine.
Tyranna reiterated that EL 5661, which immediately surrounds, and is contiguous with, the Challenger gold operations, formed part of the Tyranna/Challenger Gold JV and that the recently granted mineral lease 6457 within that tenement was subject to the same JV agreement.
Tyranna held a 59% jJV equity in the project, while Challenger held the remaining 41% stake.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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