PERTH (miningweekly.com) – Resources and investment company Cape Lambert Resources has inked a sale and purchase agreement with a subsidiary of Newcrest Mining over its three exploration licences in Côte d’Ivoire.
Under the terms of the agreement, Cape Lambert would sell its three exploration licences for $332 500, as well as a 1% net smelter royalty on any gold produced from the licences, capped at $1-million.
“I am pleased that we have been able to divest the Côte d’Ivoire licences to a well respected mining corporation who will be able to progress the exploration of the licences for the benefit of all stakeholders,” said Cape Lambert executive chairperson Tony Sage.
The sales agreement was subject to gold miner Newcrest receiving approval from the Minister of Mines for the transfer of the licences.