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Energy|Exploration|Mining|PROJECT
Energy|Exploration|Mining|PROJECT
energy|exploration|mining|project

Paladin now owns 100% of Michelin project

18th October 2023

By: Creamer Media Reporter

     

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Australia-listed Paladin Energy’s interest in the Michelin exploration project, in Labrador, Canada, has increased to 100%, from 75% previously.

As a result of the funding and dilution provisions of the Michelin joint venture agreement, the Michelin nominees have surrendered their 25% participating interest to Aurora.

The Michelin project is located in a premier mining jurisdiction with more than $75-million of in-ground exploration work previously undertaken.

Paladin has recently completed an extensive geological review including an on-ground review of historic data and an airborne gravity-gradiometry survey.

The company has also re-opened an office in St John’s and has successfully recruited an in-country exploration team.

With the increase in Aurora’s interest in the Michelin project to 100%, Paladin has started a workstream to determine the pathway forward for the project.

The company states that it will provide an update on future activities in the first half of next year.

Edited by Creamer Media Reporter

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