https://www.miningweekly.com

Newcrest signs up for new gold hunt

8th March 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Newcrest Mining has entered into a heads of agreement (HoA) with fellow listed Alice Queen on a propsed farm-in on the Mendooran project, in New South Wales.

Under the HoA, Newcrest will have the right to earn up to an 80% interest in the gold project by spending some A$10-million on exploration.

An initial A$2-million spend will give the company the right to earn an interest in the tenement and, subject to completing the option expenditure, Newcrest will have the right to earn a 51% stake in the project by incurring no less than A$3-million of exploration expenditure over a 24-month period.

Subject to the completion of the Stage 1 earn-in, the gold miner could increase its stake in Mendooran to 80%, by spending no less than A$5-million during the following 60 months.

Under the proposed farm-in agreement, Alice Queen will also agree to grant exclusive rights to Newcrest over the Looking Glass project, also in New South Wales, during the term of the farm-in.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

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:0.049 0.511s - 128pq - 2rq
Subscribe Now