PERTH (miningweekly.com) – ASX-listed Vital Metals on Thursday announced its withdrawal from an earn-in agreement into the Bouli gold project, in Niger, citing concerns over the ‘geopolitical situation’ in the region.
Vital in July this year announced that it would proceed with A$5-million earn-in over a two-year period, to gain a 50% stake in the project, after already spending A$1-million on exploration.
However, the junior company on Thursday said that a review by the board had considered various factors relating to the project, including the geopolitical situation in Niger.
The company has no further expenditure requirements under its agreement with private Turkish company SUMMA.