Evolution completes A$18m earn-in at Cue
PERTH (miningweekly.com) – Gold miner Evolution Mining has earned a 75% interest in the Cue joint venture (JV), in Western Australia, after completing its earn-in requirements under an agreement with fellow-listed Musgrave Minerals.
As Evolution has met the A$18-million expenditure requirement to complete the earn-in, an unincorporated JV is now formed and a JV committee will be established. Musgrave has the right to contribute to ongoing exploration costs on a pro-rata basis to maintain its 25% interest following approval of a proposed exploration programme and budget, or can elect to dilute.
The initial earn-in and JV agreement was inked in 2019 over a large area of Lake Austin and surrounds on the Cue project, and the JV excludes all of Musgrave’s fully-owned mineral resource at Cue and the Mainland option area.
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